Armada hoffler properties, inc. (AHH)
Balance Sheet / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12
ASSETS
Real estate investments:
Income producing property

1,465,882

1,460,723

1,442,809

1,407,224

1,102,803

1,037,917

1,023,658

934,929

936,579

910,686

906,225

900,782

898,526

894,078

844,127

752,783

722,123

579,000

649,029

599,339

552,172

513,918

499,661

436,450

434,281

406,239

404,742

403,296

-

350,814

Held for development

13,607

5,000

1,246

2,752

2,994

2,994

2,979

1,474

1,473

680

680

680

8,042

680

1,933

2,032

1,995

1,180

1,180

1,180

1,180

-

0

8,592

-

0

7,081

4,733

-

3,926

Construction in progress

155,672

140,601

129,830

156,695

145,366

135,675

139,450

157,795

120,850

83,071

62,948

39,361

19,198

13,529

13,895

79,258

62,365

53,411

35,407

24,169

26,251

81,082

93,946

105,253

78,536

56,737

29,091

12,258

-

-

Gross real estate investments

1,635,161

1,606,324

1,573,885

1,566,671

1,251,163

1,176,586

1,166,087

1,094,198

1,058,902

994,437

969,853

940,823

925,766

908,287

859,955

834,073

786,483

633,591

685,616

624,688

579,603

595,000

593,607

550,295

512,817

462,976

440,914

420,287

-

354,740

Accumulated depreciation

235,249

224,738

214,146

205,650

196,518

188,775

185,831

177,966

171,205

164,521

157,932

152,438

145,981

139,553

133,288

127,337

121,920

125,380

129,996

124,975

120,224

116,099

115,839

112,024

108,706

105,228

101,920

98,612

-

92,454

Net real estate investments

1,399,912

1,381,586

1,359,739

1,361,021

1,054,645

987,811

980,256

916,232

887,697

829,916

811,921

788,385

779,785

768,734

726,667

706,736

664,563

508,211

555,620

499,713

459,379

478,901

477,768

438,271

404,111

357,748

338,994

321,675

-

262,286

Real estate investments held for sale

0

1,460

0

0

929

929

-

-

-

0

-

-

-

-

0

5,829

2,731

40,232

-

-

27,882

8,538

-

-

-

-

-

-

-

-

Cash and cash equivalents

48,096

39,232

44,195

23,109

15,577

21,254

17,732

12,279

15,804

19,959

19,721

18,587

10,039

21,942

23,890

19,984

18,810

26,989

15,191

27,356

31,479

25,883

17,101

16,271

13,444

18,882

9,775

14,737

-

9,400

Restricted cash

4,692

4,347

3,411

2,852

3,382

2,797

2,916

3,139

3,502

2,957

3,195

3,139

3,649

3,251

3,471

3,158

3,695

2,824

4,243

3,090

4,026

4,224

4,425

3,224

2,754

2,160

2,966

3,117

-

3,725

Accounts receivable, net

22,831

23,470

22,850

20,713

18,297

19,016

18,224

16,444

16,125

15,691

15,826

15,027

14,122

15,052

15,100

14,366

13,360

21,982

22,006

21,412

20,788

20,548

20,307

19,517

18,884

18,272

17,846

17,509

-

17,423

Notes receivable, net

178,700

159,371

148,744

144,743

152,172

138,683

100,486

93,478

88,973

83,058

75,522

73,382

60,959

59,546

49,935

39,311

10,464

7,825

-

-

-

-

-

-

-

-

-

-

-

-

Construction receivables, including retentions, net

35,051

36,361

19,605

13,696

17,784

16,154

21,959

19,868

21,336

23,933

35,923

45,820

50,151

39,433

39,981

31,277

31,567

36,535

48,097

39,603

28,085

19,432

15,285

12,730

12,736

12,633

12,619

17,511

-

10,490

Construction contract costs and estimated earnings in excess of billings, net

458

249

624

461

317

1,358

727

1,287

315

245

110

53

812

110

419

1,756

300

88

289

53

170

272

40

1,287

1,184

1,178

1,452

901

-

1,206

Equity method investments

-

-

0

0

0

22,203

16,811

14,538

12,821

11,411

11,169

10,950

10,794

10,235

10,360

-

-

1,411

-

-

-

-

-

-

-

-

-

-

-

-

Operating lease right-of-use assets

32,997

33,088

33,179

33,268

32,242

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Finance lease right-of-use assets

23,983

24,130

24,277

24,415

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquired lease intangible assets, net

65,014

68,702

-

-

-

27,561

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Due from affiliates

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,719

Other assets

34,404

32,901

104,435

105,749

63,909

27,616

58,747

55,106

55,216

55,953

57,611

58,995

62,593

64,165

62,022

72,055

64,493

43,450

48,647

41,829

32,192

30,224

32,409

24,815

25,799

24,409

23,199

23,857

-

21,564

Cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1

-

Total Assets

1,846,090

1,804,897

1,761,059

1,730,027

1,359,254

1,265,382

1,217,858

1,132,371

1,101,789

1,043,123

1,030,998

1,014,338

992,904

982,468

931,845

894,472

809,983

689,547

694,093

633,056

604,001

588,022

567,335

516,115

478,912

435,282

406,851

399,307

1

331,813

LIABILITIES AND EQUITY
Indebtedness, net

1,006,617

950,537

943,371

949,345

737,621

694,239

653,750

580,446

589,634

517,272

488,609

465,291

522,394

522,180

513,993

501,940

460,938

377,593

420,145

386,871

363,730

356,345

335,792

349,840

317,271

277,745

247,356

244,336

-

334,438

Debt secured by real estate investments held for sale

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6,380

6,373

-

-

-

17,342

-

-

-

-

-

-

-

-

-

Participating note

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

643

Accounts payable and accrued liabilities

15,768

17,803

18,339

15,983

15,904

15,217

15,752

11,525

11,333

15,180

14,383

9,311

11,008

10,804

10,604

6,379

6,812

6,472

6,278

4,606

5,649

8,358

7,569

6,743

7,158

6,463

6,970

8,060

-

2,478

Construction payables, including retentions

50,161

53,382

36,516

37,798

42,293

50,796

45,541

40,719

41,516

47,445

48,160

58,546

57,457

51,130

51,203

49,203

43,611

52,067

54,159

42,700

34,264

42,399

39,820

34,631

27,047

28,139

26,162

17,512

-

17,369

Billings in excess of construction contract costs and estimated earnings

6,311

5,306

3,333

1,789

3,622

3,037

1,767

1,711

2,235

3,591

5,232

6,780

9,823

10,167

6,560

2,893

3,177

2,224

2,512

1,683

1,206

1,053

3,420

1,227

1,134

1,541

2,270

3,258

-

4,236

Operating lease liabilities

41,512

41,474

41,387

41,300

41,697

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Finance lease liabilities

17,916

17,903

17,891

17,862

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Due to affiliates

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,597

Due to related parties

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

406

1,599

-

-

Other liabilities

69,404

63,045

63,637

59,508

40,431

46,203

40,912

41,000

40,170

39,352

41,181

39,889

39,107

39,209

39,517

38,935

33,820

25,471

25,350

22,833

18,942

17,961

17,979

16,474

16,264

15,873

15,736

12,991

-

10,393

Total Liabilities

1,207,689

1,149,450

1,124,474

1,123,585

881,568

809,492

757,722

675,401

684,888

622,840

597,565

579,817

639,789

633,490

621,877

605,730

554,731

463,827

508,444

458,693

441,133

426,116

404,580

408,915

368,874

329,761

298,900

287,756

-

373,154

Redeemable noncontrolling interest

-

-

-

-

-

-

-

-

-

-

2,000

2,000

2,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Stockholders’ equity:
Preferred stock, $0.01 par value, 100,000,000 shares authorized: 6.75% Series A Cumulative Redeemable Perpetual Preferred Stock, 2,930,000 shares authorized, 2,530,000 shares issued and outstanding as of March 31, 2020 and December 31, 2019

63,250

63,250

63,250

63,250

0

0

0

0

0

0

0

0

0

0

0

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Common stock, $0.01 par value, 500,000,000 shares authorized; 56,492,134 and 56,277,971 shares issued and outstanding as of March 31, 2020 and December 31, 2019, respectively

565

563

549

528

523

500

496

488

452

449

449

449

377

374

342

328

310

300

262

258

251

250

250

193

193

192

192

192

0

-

Additional paid-in capital

457,804

455,680

430,193

394,269

389,547

357,353

350,849

338,577

289,699

287,407

288,485

288,162

199,923

197,114

153,571

133,915

113,105

102,906

64,027

59,831

51,877

51,472

51,179

1,650

1,473

1,247

1,010

767

0

-

Distributions in excess of earnings

115,390

106,676

100,087

95,490

88,949

82,699

76,386

70,648

65,190

61,166

56,755

55,709

50,629

49,345

46,066

45,114

41,244

53,010

53,225

51,447

53,572

54,413

53,695

51,307

49,550

47,934

-

-

-

-

Accumulated other comprehensive loss

-9,393

-4,240

-5,308

-4,502

-1,981

-1,283

-47

-

-

0

-

-

-

-

0

0

-

-648

-972

-344

-495

-

-

-

-

-

-

-

-

-

Predecessor deficit

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-46,195

-43,934

-

-41,341

Total stockholders’ equity

396,836

408,577

388,597

358,055

299,140

273,871

274,912

268,417

224,961

226,690

232,179

232,902

149,671

148,143

107,847

89,129

72,171

49,548

10,092

8,298

-1,939

-2,691

-2,266

-49,464

-47,884

-46,495

-44,993

-42,975

-

-41,341

Noncontrolling interests in investment entities

4,370

4,462

5,510

4,550

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Noncontrolling interests in Operating Partnership

237,195

242,408

242,478

243,837

178,546

182,019

185,224

188,553

191,940

193,593

199,254

199,619

201,444

200,835

202,121

199,613

183,081

176,172

175,557

166,065

164,807

164,597

165,021

156,664

157,922

152,016

152,944

154,526

-

-

Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest

638,401

655,447

636,585

606,442

477,686

455,890

460,136

456,970

416,901

420,283

431,433

432,521

351,115

348,978

309,968

288,742

255,252

225,720

185,649

174,363

162,868

161,906

162,755

107,200

110,038

105,521

107,951

111,551

-

-41,341

Total Liabilities and Equity

1,846,090

1,804,897

1,761,059

1,730,027

1,359,254

1,265,382

1,217,858

1,132,371

1,101,789

1,043,123

1,030,998

1,014,338

992,904

982,468

931,845

894,472

809,983

689,547

694,093

633,056

604,001

588,022

567,335

516,115

478,912

435,282

406,851

399,307

1

331,813

Predecessor
Income producing property

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

351,560

-

Held for development

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,358

-

Construction in progress

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,063

-

Gross real estate investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

357,981

-

Accumulated depreciation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

95,299

-

Net real estate investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

262,682

-

Cash and cash equivalents

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,101

-

Restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,402

-

Accounts receivable, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

17,315

-

Construction receivables, including retentions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

13,746

-

Construction contract costs and estimated earnings in excess of billings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

959

-

Due from affiliates

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,831

-

Other assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

24,277

-

Total Assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

333,313

-

Secured debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

332,985

-

Participating note

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

643

-

Accounts payable and accrued liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,505

-

Construction payables, including retentions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

18,033

-

Billings in excess of construction contract costs and estimated earnings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,037

-

Due to affiliates

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,240

-

Other liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

10,611

-

Total Liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

376,054

-

Equity

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-42,741

-

Total Liabilities and Equity

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

333,313

-