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Condensed Consolidated Statements of Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenues        
Rental revenues $ 47,378 $ 39,915 $ 93,119 $ 82,204
General contracting and real estate services revenues 18,408 57,398 53,971 104,666
Total revenues 65,786 97,313 147,090 186,870
Expenses        
Rental expenses 11,292 8,309 22,124 17,684
Real estate taxes 5,465 4,233 10,771 8,566
General contracting and real estate services expenses 18,131 55,342 52,406 100,892
Depreciation and amortization 17,285 13,777 35,351 28,056
Amortization of right-of-use assets - finance leases 278 146 467 293
General and administrative expenses 3,487 2,988 7,508 6,781
Acquisition, development and other pursuit costs 32 502 103 529
Impairment charges 83 0 3,122 158
Total expenses 56,053 85,297 131,852 162,959
Gain on real estate dispositions 0 2,776 3,717 2,776
Operating income 9,733 14,792 18,955 26,687
Interest income 6,746 4,412 10,862 11,638
Interest expense (8,418) (7,227) (16,393) (15,415)
Change in fair value of derivatives and other 314 (6) 707 (1,742)
Unrealized credit loss release (provision) (388) 117 (333) (260)
Other income (expense), net 7 286 186 344
Income before taxes 7,994 12,374 13,984 21,252
Income tax benefit (provision) 461 (65) 480 192
Net income 8,455 12,309 14,464 21,444
Net (income) loss attributable to noncontrolling interests:        
Investment entities 0 44 0 136
Operating Partnership (1,429) (3,051) (2,240) (5,286)
Net income attributable to Armada Hoffler Properties, Inc. 7,026 9,302 12,224 16,294
Preferred stock dividends (2,887) (1,175) (5,774) (2,242)
Net income attributable to common stockholders $ 4,139 $ 8,127 $ 6,450 $ 14,052
Net income attributable to common stockholders per share (basic and diluted) (in dollars per share) $ 0.07 $ 0.14 $ 0.11 $ 0.25
Weighted-average common shares outstanding (basic and diluted) (in shares) 60,409 56,668 59,918 56,533
Comprehensive income:        
Net income $ 8,455 $ 12,309 $ 14,464 $ 21,444
Unrealized cash flow hedge gains (losses) (469) (2,279) 1,807 (9,768)
Realized cash flow hedge losses reclassified to net income 1,103 798 2,181 1,190
Comprehensive income 9,089 10,828 18,452 12,866
Comprehensive income attributable to Armada Hoffler Properties, Inc. $ 7,497 $ 8,226 $ 15,178 $ 10,065
Revenue, Product and Service [Extensible List] us-gaap:RealEstateMember us-gaap:RealEstateMember us-gaap:RealEstateMember us-gaap:RealEstateMember
Noncontrolling interests in investment entities        
Expenses        
Net income $ 0 $ (44)    
Comprehensive income:        
Net income 0 (44)    
Comprehensive (income) loss attributable to noncontrolling interests: 0 44 $ 0 $ 136
Noncontrolling interests in Operating Partnership        
Expenses        
Net income 1,429 3,051    
Comprehensive income:        
Net income 1,429 3,051    
Unrealized cash flow hedge gains (losses) (120) (622)    
Realized cash flow hedge losses reclassified to net income 283 218    
Comprehensive (income) loss attributable to noncontrolling interests: $ (1,592) $ (2,646) $ (3,274) $ (2,937)