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Condensed Consolidated Statements of Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues        
Rental revenues $ 55,224 $ 47,378 $ 109,859 $ 93,119
General contracting and real estate services revenues 45,273 18,408 69,923 53,971
Total revenues 100,497 65,786 179,782 147,090
Expenses        
Rental expenses 12,685 11,292 25,354 22,124
Real estate taxes 5,837 5,465 11,241 10,771
General contracting and real estate services expenses 43,418 18,131 67,239 52,406
Depreciation and amortization 18,781 17,285 37,338 35,351
Amortization of right-of-use assets - finance leases 277 278 555 467
General and administrative expenses 3,617 3,487 8,325 7,508
Acquisition, development and other pursuit costs 26 32 37 103
Impairment charges 286 83 333 3,122
Total expenses 84,927 56,053 150,422 131,852
Gain on real estate dispositions, net 19,493 0 19,493 3,717
Operating income 35,063 9,733 48,853 18,955
Interest income 3,352 6,746 6,920 10,862
Interest expense (9,371) (8,418) (18,402) (16,393)
Loss on extinguishment of debt (618) 0 (776) 0
Change in fair value of derivatives and other 2,548 314 6,730 707
Unrealized credit loss provision (295) (388) (900) (333)
Other income (expense), net 68 7 297 186
Income before taxes 30,747 7,994 42,722 13,984
Income tax benefit 20 461 321 480
Net income 30,767 8,455 43,043 14,464
Net income attributable to noncontrolling interests:        
Investment entities (128) 0 (228) 0
Operating Partnership (6,479) (1,429) (8,662) (2,240)
Net income attributable to Armada Hoffler Properties, Inc. 24,160 7,026 34,153 12,224
Preferred stock dividends (2,887) (2,887) (5,774) (5,774)
Net income attributable to common stockholders $ 21,273 $ 4,139 $ 28,379 $ 6,450
Net income attributable to common stockholders per share (basic) (in dollars per share) $ 0.31 $ 0.07 $ 0.42 $ 0.11
Net income attributable to common stockholders per share (diluted) (in dollars per share) $ 0.31 $ 0.07 $ 0.42 $ 0.11
Weighted-average common shares outstanding (basic) (in shares) 67,710 60,409 67,420 59,918
Weighted-average common shares outstanding (diluted) (in shares) 67,710 60,409 67,420 59,918
Comprehensive income:        
Net income $ 30,767 $ 8,455 $ 43,043 $ 14,464
Unrealized cash flow hedge gains (losses) 3,950 (469) 11,672 1,807
Realized cash flow hedge losses reclassified to net income 866 1,103 1,653 2,181
Comprehensive income 35,583 9,089 56,368 18,452
Comprehensive income attributable to Armada Hoffler Properties, Inc. $ 27,776 $ 7,497 $ 44,278 $ 15,178
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 $ 128 $ 0    
Comprehensive income:        
Net income 128 0    
Unrealized cash flow hedge gains (losses) 55      
Realized cash flow hedge losses reclassified to net income 45      
Comprehensive income attributable to noncontrolling interests: (228) 0 $ (328) $ 0
Noncontrolling interests in Operating Partnership        
Expenses        
Net income 6,479 1,429    
Comprehensive income:        
Net income 6,479 1,429    
Unrealized cash flow hedge gains (losses) 909 (120)    
Realized cash flow hedge losses reclassified to net income 191 283    
Comprehensive income attributable to noncontrolling interests: $ (7,579) $ (1,592) $ (11,762) $ (3,274)