Armada hoffler properties, inc. (AHH)
Income statement / TTM
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'14Sep'13Jun'13
Revenues
Rental revenues

162,719

151,339

140,238

126,948

119,168

116,958

113,881

112,047

110,204

108,737

107,599

105,808

103,304

99,355

94,610

90,608

86,265

81,172

76,922

72,332

67,743

64,746

62,124

59,642

0

0

0

General contracting and real estate services revenues

136,091

105,859

78,823

71,135

70,345

76,359

96,297

117,548

153,565

194,034

211,866

209,217

185,746

159,030

149,864

165,134

179,000

171,268

162,019

139,729

113,158

103,321

93,157

84,916

0

0

0

Total revenues

298,810

257,198

219,061

198,083

189,513

193,317

210,178

229,595

263,769

302,771

319,465

315,025

289,050

258,385

244,474

255,742

265,265

252,440

238,941

212,061

180,901

168,067

155,281

144,558

0

0

0

Expenses
Rental expenses

36,982

34,332

31,849

29,028

27,523

27,222

26,402

26,129

25,778

25,422

24,739

23,743

22,643

21,904

21,182

20,213

19,773

19,204

18,693

18,242

17,451

16,667

16,070

15,055

0

0

0

Real estate taxes

16,166

14,961

13,754

12,414

11,698

11,383

11,119

10,972

10,832

10,528

10,339

10,002

9,789

9,629

9,197

8,897

8,474

7,782

7,184

6,608

6,057

5,743

5,548

5,316

0

0

0

General contracting and real estate services expenses

130,802

101,538

75,009

67,536

67,500

73,628

93,476

113,880

147,808

186,590

203,627

201,524

179,534

153,375

144,539

158,981

172,239

165,344

156,088

134,840

108,911

98,754

88,714

80,749

0

0

0

Depreciation and amortization

58,939

54,564

50,094

44,838

40,539

39,913

37,956

36,999

37,124

37,321

37,710

37,356

36,654

35,328

31,798

29,230

26,394

23,153

21,967

20,217

18,508

17,569

16,526

15,979

0

0

0

Amortization of right-of-use assets - finance leases

0

-

0

-

0

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

General and administrative expenses

12,784

12,392

12,668

12,058

11,871

11,431

10,765

10,496

10,410

10,435

10,450

10,508

10,054

9,552

8,964

8,681

8,553

8,397

8,240

8,108

7,993

7,711

7,406

8,522

0

0

0

Acquisition, development and other pursuit costs

471

844

740

716

668

352

333

325

685

648

554

838

906

1,563

2,371

2,314

2,468

1,935

1,224

0

0

-

0

-

-

-

-

Impairment charges

410

252

3

101

0

-

0

0

-

110

221

351

324

355

184

58

0

-

0

0

-

-

0

-

-

-

0

Total expenses

257,078

219,260

185,739

168,111

161,418

165,548

180,212

198,978

232,743

271,054

287,640

284,322

259,904

231,706

218,253

228,369

237,977

225,856

213,300

189,044

159,335

146,688

134,453

126,154

0

0

0

Operating income

46,431

42,637

42,275

34,226

32,349

32,023

38,053

38,704

39,113

39,804

62,358

61,236

59,679

57,212

26,221

27,373

27,288

26,584

25,641

23,017

21,566

21,379

20,828

18,404

0

0

0

Interest income

25,122

23,215

20,199

17,034

13,816

10,729

9,263

8,628

7,911

7,077

6,266

5,380

4,444

3,228

1,928

904

0

-

0

0

-

-

-

-

-

-

-

Interest expense on indebtedness

32,849

30,776

27,857

23,706

20,600

19,087

17,704

17,280

17,277

17,439

17,855

17,726

17,210

16,466

15,304

14,698

14,078

13,333

12,593

11,809

11,129

10,648

10,575

11,130

0

0

0

Interest expense on finance leases

0

-

0

-

0

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Equity in income of unconsolidated real estate entities

0

273

645

645

645

372

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain (Loss) on Extinguishment of Debt

-

-

0

-

-

-

0

-

-

-

0

-

-

-

0

-

-

-512

0

0

0

-

-

-

-

0

0

Gain on real estate dispositions

-

-

0

-

-

-

0

-

-

8,087

8,180

7,241

7,254

30,533

35,427

31,674

38,871

18,394

0

0

0

-

-

-

-

-

-

Change in fair value of interest rate derivatives

-3,872

-3,599

-6,133

-5,305

-3,383

-951

2,083

1,872

1,802

1,127

1,623

2,034

1,742

-941

-2,255

-2,804

-2,471

-229

0

0

0

-

-

-

-

-

-

Provision for unrealized credit losses

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on acquisitions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Other income (expense), net

583

585

570

273

323

377

160

169

158

81

147

108

108

147

217

199

180

119

199

241

23

120

-132

-6

0

0

0

Income before taxes

34,241

31,767

29,482

23,167

23,150

23,463

23,757

28,698

28,312

30,650

30,186

27,658

25,402

43,098

46,176

42,669

49,813

31,149

27,984

26,240

18,261

12,829

8,994

14,476

0

0

0

Income tax benefit

-638

-491

184

263

127

-29

-608

-459

157

725

884

871

427

343

123

225

215

-34

18

-143

-110

70

209

41

0

0

0

Discontinued operations:
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest

34,879

32,258

29,298

22,904

23,023

23,492

24,365

29,157

28,155

29,925

29,302

26,787

24,975

42,755

46,053

42,444

49,598

31,183

27,966

26,383

18,371

12,759

8,785

14,435

0

0

0

Net (income) loss attributable to noncontrolling interests:
Investment entities

121

213

640

-320

0

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating Partnership

8,597

7,992

7,253

5,930

5,976

6,289

6,652

8,158

8,004

8,878

8,949

8,710

8,335

14,681

16,109

15,024

17,691

11,541

10,366

9,856

7,040

5,068

3,635

5,925

0

0

0

Net income attributable to Armada Hoffler Properties, Inc.

26,161

24,053

21,405

17,294

17,047

17,203

17,713

20,999

20,151

21,047

20,353

18,077

16,640

28,074

29,944

27,420

31,907

19,642

17,600

16,527

11,331

7,691

5,150

8,421

0

0

0

Preferred stock dividends

3,522

2,455

1,388

154

0

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net income attributable to common stockholders

22,639

21,598

20,577

17,817

0

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net income attributable to stockholders per share (basic and diluted) (in dollars per share)

0.11

0.10

0.13

0.08

0.10

0.07

0.09

0.09

0.11

0.09

0.17

0.08

0.16

0.07

0.15

0.06

0.57

0.20

0.10

0.25

0.20

0.13

0.08

0.07

0.08

0.04

0.26

Weighted-average outstanding:
Common shares (in shares)

-

-

-

-

-

-

-

-

-

-

-

42,091

37,622

36,509

33,792

31,736

30,191

27,437

25,958

25,587

25,042

25,075

20,266

19,250

19,193

19,164

18,605

Common units (in shares)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

16,044

15,919

14,769

14,776

14,792

14,291

13,785

13,632

13,059

13,059

Weighted-average common shares outstanding (basic and diluted) (in shares)

56,398

55,636

53,463

52,451

50,926

49,794

49,194

45,928

45,132

-

44,934

-

-

-

-

-

-

43,481

41,877

40,356

39,818

39,867

34,557

33,035

32,825

32,223

31,664

Dividends and distributions declared per common share and unit (in dollars per share)

-

-

-

-

-

-

-

-

-

-

0.19

0.19

0.19

-

0.18

0.18

0.18

-

0.17

0.17

0.17

-

0.16

0.16

0.16

0.16

0.08

Comprehensive income:
Net income

34,879

32,258

29,298

22,904

23,023

23,492

24,365

29,157

28,155

29,925

29,302

26,787

24,975

42,755

46,053

42,444

49,598

31,183

27,966

26,383

18,371

12,759

8,785

14,435

0

0

0

Unrealized cash flow hedge losses

-10,990

-4,504

-7,473

-6,356

-2,897

-1,894

-130

0

0

-

0

-

-

-

-

-

-

-1,075

0

0

0

-

-

-

-

-

-

Realized cash flow hedge losses reclassified to net income

-821

-501

-332

-276

-241

-169

-67

0

0

-

0

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

Comprehensive income

24,710

28,255

22,157

16,824

20,367

21,767

28,995

0

0

-

0

-

-

-

-

-

-

30,135

26,405

25,835

17,585

12,759

0

0

0

-

-

Comprehensive income attributable to Armada Hoffler Properties, Inc.

18,749

21,096

16,142

12,792

15,066

15,920

21,003

0

0

-

0

-

-

-

-

-

-

18,994

16,628

16,183

10,836

7,691

0

0

0

-

-

Noncontrolling interests in investment entities
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest

0

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net income

0

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Comprehensive (income) loss attributable to noncontrolling interests:

121

213

-1,303

-2,263

-1,943

0

4,916

0

0

-

0

-

-

-

-

-

-

11,141

9,777

9,652

6,749

5,068

0

0

0

-

-

Noncontrolling interests in Operating Partnership
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest

8,597

7,992

7,467

6,303

0

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net income

8,597

7,992

7,467

6,303

0

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Unrealized cash flow hedge losses

-2,983

-1,183

-1,549

0

0

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Realized cash flow hedge losses reclassified to net income

-226

-137

-79

0

0

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Comprehensive (income) loss attributable to noncontrolling interests:

5,840

6,946

5,997

5,150

0

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-