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ARMADA HOFFLER PROPERTIES IN (AHH) Stock Fundamental Analysis

NYSE:AHH - New York Stock Exchange, Inc. - US04208T1088 - REIT - Currency: USD

8.92  -0.1 (-1.11%)

After market: 8.92 0 (0%)

Fundamental Rating

3

Overall AHH gets a fundamental rating of 3 out of 10. We evaluated AHH against 129 industry peers in the Diversified REITs industry. Both the profitability and financial health of AHH have multiple concerns. AHH is valued expensive and it does not seem to be growing.


Dividend Valuation Growth Profitability Health

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2

1. Profitability

1.1 Basic Checks

In the past year AHH was profitable.
In the past year AHH had a positive cash flow from operations.
The reported net income has been mixed in the past 5 years: AHH reported negative net income in multiple years.
Of the past 5 years AHH 4 years had a positive operating cash flow.
AHH Yearly Net Income VS EBIT VS OCF VS FCFAHH Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 100M -100M -200M

1.2 Ratios

Looking at the Return On Assets, with a value of -0.57%, AHH is doing worse than 66.67% of the companies in the same industry.
AHH has a Return On Equity of -2.19%. This is in the lower half of the industry: AHH underperforms 68.25% of its industry peers.
AHH has a Return On Invested Capital (2.97%) which is comparable to the rest of the industry.
Measured over the past 3 years, the Average Return On Invested Capital for AHH is in line with the industry average of 3.11%.
The 3 year average ROIC (2.52%) for AHH is below the current ROIC(2.97%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA -0.57%
ROE -2.19%
ROIC 2.97%
ROA(3y)1.07%
ROA(5y)1.11%
ROE(3y)3.68%
ROE(5y)4.1%
ROIC(3y)2.52%
ROIC(5y)2.36%
AHH Yearly ROA, ROE, ROICAHH Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 10 20 30

1.3 Margins

AHH has a worse Operating Margin (10.91%) than 78.57% of its industry peers.
In the last couple of years the Operating Margin of AHH has declined.
With a Gross Margin value of 26.72%, AHH is not doing good in the industry: 92.86% of the companies in the same industry are doing better.
AHH's Gross Margin has declined in the last couple of years.
Industry RankSector Rank
OM 10.91%
PM (TTM) N/A
GM 26.72%
OM growth 3Y-1.24%
OM growth 5Y-6.56%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-2.53%
GM growth 5Y-7.59%
AHH Yearly Profit, Operating, Gross MarginsAHH Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 10 20 30 40

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3

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), AHH is destroying value.
There is no outstanding debt for AHH. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
AHH Yearly Shares OutstandingAHH Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 20M 40M 60M
AHH Yearly Total Debt VS Total AssetsAHH Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 500M 1B 1.5B 2B 2.5B

2.2 Solvency

AHH has an Altman-Z score of 0.57. This is a bad value and indicates that AHH is not financially healthy and even has some risk of bankruptcy.
The Altman-Z score of AHH (0.57) is comparable to the rest of the industry.
The Debt to FCF ratio of AHH is 42.85, which is on the high side as it means it would take AHH, 42.85 years of fcf income to pay off all of its debts.
With a Debt to FCF ratio value of 42.85, AHH perfoms like the industry average, outperforming 58.73% of the companies in the same industry.
A Debt/Equity ratio of 2.14 is on the high side and indicates that AHH has dependencies on debt financing.
AHH has a worse Debt to Equity ratio (2.14) than 76.98% of its industry peers.
Industry RankSector Rank
Debt/Equity 2.14
Debt/FCF 42.85
Altman-Z 0.57
ROIC/WACC0.46
WACC6.43%
AHH Yearly LT Debt VS Equity VS FCFAHH Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 500M 1B

2.3 Liquidity

AHH has a Current Ratio of 1.04. This is a normal value and indicates that AHH is financially healthy and should not expect problems in meeting its short term obligations.
The Current ratio of AHH (1.04) is comparable to the rest of the industry.
A Quick Ratio of 1.04 indicates that AHH should not have too much problems paying its short term obligations.
With a Quick ratio value of 1.04, AHH perfoms like the industry average, outperforming 48.41% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 1.04
Quick Ratio 1.04
AHH Yearly Current Assets VS Current LiabilitesAHH Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 50M 100M 150M 200M 250M

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2

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 800.00% over the past year.
The Earnings Per Share has been decreasing by -3.54% on average over the past years.
EPS 1Y (TTM)800%
EPS 3Y-3.54%
EPS 5YN/A
EPS Q2Q%200%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%5.19%

3.2 Future

The Earnings Per Share is expected to decrease by -20.32% on average over the next years. This is quite bad
AHH is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 2.78% yearly.
EPS Next Y-53.83%
EPS Next 2Y-20.32%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year3%
Revenue Next 2Y2.78%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
AHH Yearly Revenue VS EstimatesAHH Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 200M 400M 600M
AHH Yearly EPS VS EstimatesAHH Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0 0.2 0.4 0.6 0.8

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3

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 25.49, the valuation of AHH can be described as expensive.
AHH's Price/Earnings ratio is a bit cheaper when compared to the industry. AHH is cheaper than 72.22% of the companies in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 29.63, AHH is valued at the same level.
A Price/Forward Earnings ratio of 55.20 indicates a quite expensive valuation of AHH.
The rest of the industry has a similar Price/Forward Earnings ratio as AHH.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.68, AHH is valued quite expensively.
Industry RankSector Rank
PE 25.49
Fwd PE 55.2
AHH Price Earnings VS Forward Price EarningsAHH Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of AHH indicates a somewhat cheap valuation: AHH is cheaper than 67.46% of the companies listed in the same industry.
Based on the Price/Free Cash Flow ratio, AHH is valued a bit cheaper than 69.84% of the companies in the same industry.
Industry RankSector Rank
P/FCF 27.28
EV/EBITDA 12.46
AHH Per share dataAHH EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6

4.3 Compensation for Growth

A cheap valuation may be justified as AHH's earnings are expected to decrease with -20.32% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-20.32%
EPS Next 3YN/A

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5

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 9.09%, AHH is a good candidate for dividend investing.
AHH's Dividend Yield is rather good when compared to the industry average which is at 18.48. AHH pays more dividend than 86.51% of the companies in the same industry.
AHH's Dividend Yield is rather good when compared to the S&P500 average which is at 2.29.
Industry RankSector Rank
Dividend Yield 9.09%

5.2 History

The dividend of AHH has a limited annual growth rate of 2.19%.
AHH has paid a dividend for at least 10 years, which is a reliable track record.
The dividend of AHH decreased recently.
Dividend Growth(5Y)2.19%
Div Incr Years1
Div Non Decr Years1
AHH Yearly Dividends per shareAHH Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0.2 0.4 0.6 0.8 1

5.3 Sustainability

AHH has negative earnings and hence a negative payout ratio. The dividend may be in danger.
DP-570.14%
EPS Next 2Y-20.32%
EPS Next 3YN/A
AHH Yearly Income VS Free CF VS DividendAHH Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 -100M -200M

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ARMADA HOFFLER PROPERTIES IN

NYSE:AHH (2/21/2025, 8:04:00 PM)

After market: 8.92 0 (0%)

8.92

-0.1 (-1.11%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)02-19 2025-02-19/amc
Earnings (Next)05-07 2025-05-07/bmo
Inst Owners90.2%
Inst Owner Change1.62%
Ins Owners1.53%
Ins Owner Change28.47%
Market Cap904.13M
Analysts80
Price Target11.68 (30.94%)
Short Float %2.33%
Short Ratio2.32
Dividend
Industry RankSector Rank
Dividend Yield 9.09%
Yearly Dividend1.2
Dividend Growth(5Y)2.19%
DP-570.14%
Div Incr Years1
Div Non Decr Years1
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-172.76%
Min EPS beat(2)-281.52%
Max EPS beat(2)-64%
EPS beat(4)1
Avg EPS beat(4)-48.93%
Min EPS beat(4)-511.27%
Max EPS beat(4)661.06%
EPS beat(8)3
Avg EPS beat(8)-29.22%
EPS beat(12)7
Avg EPS beat(12)32.19%
EPS beat(16)9
Avg EPS beat(16)20.49%
Revenue beat(2)2
Avg Revenue beat(2)2.82%
Min Revenue beat(2)1.16%
Max Revenue beat(2)4.47%
Revenue beat(4)3
Avg Revenue beat(4)-0.16%
Min Revenue beat(4)-7.13%
Max Revenue beat(4)4.47%
Revenue beat(8)6
Avg Revenue beat(8)22.72%
Revenue beat(12)10
Avg Revenue beat(12)41.66%
Revenue beat(16)14
Avg Revenue beat(16)49.95%
PT rev (1m)-1.6%
PT rev (3m)1.43%
EPS NQ rev (1m)-40%
EPS NQ rev (3m)-47.06%
EPS NY rev (1m)54.28%
EPS NY rev (3m)-32.5%
Revenue NQ rev (1m)-0.36%
Revenue NQ rev (3m)2.48%
Revenue NY rev (1m)-0.23%
Revenue NY rev (3m)1.39%
Valuation
Industry RankSector Rank
PE 25.49
Fwd PE 55.2
P/S 1.19
P/FCF 27.28
P/OCF 8.51
P/B 1.36
P/tB 1.6
EV/EBITDA 12.46
EPS(TTM)0.35
EY3.92%
EPS(NY)0.16
Fwd EY1.81%
FCF(TTM)0.33
FCFY3.67%
OCF(TTM)1.05
OCFY11.75%
SpS7.47
BVpS6.55
TBVpS5.59
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -0.57%
ROE -2.19%
ROCE 3.49%
ROIC 2.97%
ROICexc 3.03%
ROICexgc 3.25%
OM 10.91%
PM (TTM) N/A
GM 26.72%
FCFM 4.38%
ROA(3y)1.07%
ROA(5y)1.11%
ROE(3y)3.68%
ROE(5y)4.1%
ROIC(3y)2.52%
ROIC(5y)2.36%
ROICexc(3y)2.56%
ROICexc(5y)2.41%
ROICexgc(3y)2.76%
ROICexgc(5y)2.57%
ROCE(3y)2.95%
ROCE(5y)2.77%
ROICexcg growth 3Y7.54%
ROICexcg growth 5Y5.36%
ROICexc growth 3Y6.86%
ROICexc growth 5Y4.65%
OM growth 3Y-1.24%
OM growth 5Y-6.56%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-2.53%
GM growth 5Y-7.59%
F-Score5
Asset Turnover0.3
Health
Industry RankSector Rank
Debt/Equity 2.14
Debt/FCF 42.85
Debt/EBITDA 7.71
Cap/Depr 72.2%
Cap/Sales 9.66%
Interest Coverage 250
Cash Conversion 57.8%
Profit Quality N/A
Current Ratio 1.04
Quick Ratio 1.04
Altman-Z 0.57
F-Score5
WACC6.43%
ROIC/WACC0.46
Cap/Depr(3y)192.9%
Cap/Depr(5y)257.81%
Cap/Sales(3y)36.38%
Cap/Sales(5y)50.16%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)800%
EPS 3Y-3.54%
EPS 5YN/A
EPS Q2Q%200%
EPS Next Y-53.83%
EPS Next 2Y-20.32%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%5.19%
Revenue Next Year3%
Revenue Next 2Y2.78%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y-1.45%
EBIT growth 3Y18.76%
EBIT growth 5Y19.72%
EBIT Next Year122.01%
EBIT Next 3Y33.56%
EBIT Next 5YN/A
FCF growth 1Y138.5%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y5.91%
OCF growth 3Y0.77%
OCF growth 5Y10.71%