Armada Hoffler Properties: Q1 Earnings Snapshot

VIRGINIA BEACH, Va. (AP) — VIRGINIA BEACH, Va. (AP) — Armada Hoffler Properties Inc. (AHH) on Tuesday reported a key measure of profitability in its first quarter. The results met Wall Street expectations.

The real estate investment trust, based in Virginia Beach, Virginia, said it had funds from operations of $26.5 million, or 30 cents per share, in the period.

The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of 30 cents per share.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.