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Condensed Consolidated Statements of Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenues        
Rental revenues $ 49,560 $ 39,636 $ 142,679 $ 121,840
General contracting and real estate services revenues 17,502 58,617 71,473 163,283
Total revenues 67,062 98,253 214,152 285,123
Expenses        
Rental expenses 12,717 10,223 34,841 27,907
Real estate taxes 5,543 4,760 16,314 13,326
General contracting and real estate services expenses 15,944 56,509 68,350 157,401
Depreciation and amortization 16,886 14,176 52,237 42,232
Amortization of right-of-use assets - finance leases 278 147 745 440
General and administrative expenses 3,449 2,601 10,957 9,382
Acquisition, development and other pursuit costs 8 26 111 555
Impairment charges 0 47 3,122 205
Total expenses 54,825 88,489 186,677 251,448
Gain (loss) on real estate dispositions, net (113) 3,612 3,604 6,388
Operating income 12,124 13,376 31,079 40,063
Interest income 3,766 4,417 14,628 16,055
Interest expense (8,827) (7,523) (25,220) (22,938)
Change in fair value of derivatives and other 131 318 838 (1,424)
Unrealized credit loss release (provision) 617 33 284 (227)
Other income (expense), net (105) 177 81 521
Income before taxes 7,706 10,798 21,690 32,050
Income tax benefit 42 28 522 220
Net income 7,748 10,826 22,212 32,270
Net (income) loss attributable to noncontrolling interests:        
Investment entities 0 45 0 181
Operating Partnership (1,237) (2,262) (3,477) (7,548)
Net income attributable to Armada Hoffler Properties, Inc. 6,511 8,609 18,735 24,903
Preferred stock dividends (2,887) (2,220) (8,661) (4,462)
Net income attributable to common stockholders $ 3,624 $ 6,389 $ 10,074 $ 20,441
Net income attributable to common stockholders per share (basic) (in dollars per share) $ 0.06 $ 0.11 $ 0.17 $ 0.36
Net income attributable to common stockholders per share (diluted) (in dollars per share) $ 0.06 $ 0.11 $ 0.17 $ 0.36
Weighted-average common shares outstanding (basic) (in shares) 61,083 57,923 60,310 57,000
Weighted-average common shares outstanding (diluted) (in shares) 61,083 57,923 60,310 57,000
Comprehensive income:        
Net income $ 7,748 $ 10,826 $ 22,212 $ 32,270
Unrealized cash flow hedge gains (losses) (460) (118) 1,347 (9,886)
Realized cash flow hedge losses reclassified to net income 1,123 1,070 3,304 2,260
Comprehensive income 8,411 11,778 26,863 24,644
Comprehensive income attributable to Armada Hoffler Properties, Inc. $ 7,005 $ 9,311 $ 22,183 $ 19,376
Revenue, Product and Service [Extensible List] Real Estate [Member] Real Estate [Member] Real Estate [Member] Real Estate [Member]
Noncontrolling interests in investment entities        
Expenses        
Net income $ 0 $ (45)    
Comprehensive income:        
Net income 0 (45)    
Comprehensive (income) loss attributable to noncontrolling interests: 0 45 $ 0 $ 181
Noncontrolling interests in Operating Partnership        
Expenses        
Net income 1,237 2,262    
Comprehensive income:        
Net income 1,237 2,262    
Unrealized cash flow hedge gains (losses) (117) (31)    
Realized cash flow hedge losses reclassified to net income 286 280    
Comprehensive (income) loss attributable to noncontrolling interests: $ (1,406) $ (2,512) $ (4,680) $ (5,449)