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Condensed Consolidated Statements of Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenues        
Rental revenues $ 53,743 $ 49,560 $ 163,602 $ 142,679
General contracting and real estate services revenues 69,024 17,502 138,947 71,473
Total revenues 122,767 67,062 302,549 214,152
Expenses        
Rental expenses 12,747 12,717 38,101 34,841
Real estate taxes 5,454 5,543 16,695 16,314
General contracting and real estate services expenses 66,252 15,944 133,491 68,350
Depreciation and amortization 17,527 16,886 54,865 52,237
Amortization of right-of-use assets - finance leases 278 278 833 745
General and administrative expenses 3,854 3,449 12,179 10,957
Acquisition, development and other pursuit costs 0 8 37 111
Impairment charges 0 0 333 3,122
Total expenses 106,112 54,825 256,534 186,677
Gain (loss) on real estate dispositions, net 33,931 (113) 53,424 3,604
Operating income 50,586 12,124 99,439 31,079
Interest income 3,490 3,766 10,410 14,628
Interest expense (10,345) (8,827) (28,747) (25,220)
Loss on extinguishment of debt (2,123) (120) (2,899) (120)
Change in fair value of derivatives and other 782 131 7,512 838
Unrealized credit loss release (provision) 42 617 (858) 284
Other income (expense), net 118 15 415 201
Income before taxes 42,550 7,706 85,272 21,690
Income tax (provision) benefit (181) 42 140 522
Net income 42,369 7,748 85,412 22,212
Net income attributable to noncontrolling interests:        
Investment entities (5,583) 0 (5,811) 0
Operating Partnership (7,909) (1,237) (16,571) (3,477)
Net income attributable to Armada Hoffler Properties, Inc. 28,877 6,511 63,030 18,735
Preferred stock dividends (2,887) (2,887) (8,661) (8,661)
Net income attributable to common stockholders $ 25,990 $ 3,624 $ 54,369 $ 10,074
Net income attributable to common stockholders per share (basic) (in dollars per share) $ 0.38 $ 0.06 $ 0.81 $ 0.17
Net income attributable to common stockholders per share (diluted) (in dollars per share) $ 0.38 $ 0.06 $ 0.81 $ 0.17
Weighted-average common shares outstanding (basic) (in shares) 67,729 61,083 67,525 60,310
Weighted-average common shares outstanding (diluted) (in shares) 67,729 61,083 67,525 60,310
Comprehensive income:        
Net income $ 42,369 $ 7,748 $ 85,412 $ 22,212
Unrealized cash flow hedge gains (losses) 7,108 (460) 18,780 1,347
Realized cash flow hedge (gains) losses reclassified to net income (366) 1,123 1,287 3,304
Comprehensive income 49,111 8,411 105,479 26,863
Comprehensive income attributable to Armada Hoffler Properties, Inc. $ 33,987 $ 7,005 $ 78,265 $ 22,183
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 $ 5,583 $ 0    
Comprehensive income:        
Net income 5,583 0    
Unrealized cash flow hedge gains (losses) 74      
Realized cash flow hedge (gains) losses reclassified to net income 1      
Comprehensive income attributable to noncontrolling interests: (5,659) 0 $ (5,987) $ 0
Noncontrolling interests in Operating Partnership        
Expenses        
Net income 7,909 1,237    
Comprehensive income:        
Net income 7,909 1,237    
Unrealized cash flow hedge gains (losses) 1,641 (117)    
Realized cash flow hedge (gains) losses reclassified to net income (85) 286    
Comprehensive income attributable to noncontrolling interests: $ (9,465) $ (1,406) $ (21,227) $ (4,680)