Armada Hoffler Properties: Q2 Earnings Snapshot
By AP News
Published - Aug 08, 2024, 10:10 AM ET
Last Updated - Aug 08, 2024, 10:11 AM EDT
VIRGINIA BEACH, Va. (AP) — VIRGINIA BEACH, Va. (AP) — Armada Hoffler Properties Inc. (AHH) on Wednesday reported a key measure of profitability in its second quarter. The results exceeded Wall Street expectations.
The Virginia Beach, Virginia-based real estate investment trust said it had funds from operations of $30.2 million, or 34 cents per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of 31 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.
