XML 15 R4.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Condensed Consolidated Statements of Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Revenues    
Rental revenues $ 61,881 $ 56,218
Revenue, Product and Service [Extensible List] Real Estate [Member] Real Estate [Member]
General contracting and real estate services revenues $ 126,975 $ 84,238
Interest income 4,626 3,719
Total revenues 193,482 144,175
Expenses    
Rental expenses 14,605 12,960
Real estate taxes 5,925 5,412
General contracting and real estate services expenses 122,898 81,170
Depreciation and amortization 20,435 18,468
Amortization of right-of-use assets - finance leases 395 277
General and administrative expenses 5,874 5,448
Impairment charges 0 102
Total expenses 170,132 123,837
Operating income 23,350 20,338
Interest expense (17,975) (12,302)
Change in fair value of derivatives and other 12,888 (2,447)
Unrealized credit loss provision (83) (77)
Other income (expense), net 79 93
Income before taxes 18,259 5,605
Income tax provision (534) (188)
Net income 17,725 5,417
Net income attributable to noncontrolling interests:    
Investment entities (34) (154)
Operating Partnership (3,618) (554)
Net income attributable to Armada Hoffler Properties, Inc. 14,073 4,709
Preferred stock dividends (2,887) (2,887)
Net income attributable to common stockholders $ 11,186 $ 1,822
Net income attributable to common stockholders per share (basic) (in dollars per share) $ 0.17 $ 0.03
Net income attributable to common stockholders per share (diluted) (in dollars per share) $ 0.17 $ 0.03
Weighted-average common shares outstanding (basic) (in shares) 66,838 67,787
Weighted-average common shares outstanding (diluted) (in shares) 66,838 67,787
Comprehensive income:    
Net income $ 17,725 $ 5,417
Unrealized cash flow hedge gains (losses) 3,554 (426)
Realized cash flow hedge gains reclassified to net income (3,642) (2,922)
Comprehensive income 17,637 2,069
Comprehensive income attributable to Armada Hoffler Properties, Inc. 14,036 2,169
Investment entities    
Expenses    
Net income 34 154
Comprehensive income:    
Net income 34 154
Unrealized cash flow hedge gains (losses) 29 2
Realized cash flow hedge gains reclassified to net income (68) (39)
Comprehensive income attributable to noncontrolling interests: 5 (118)
Operating Partnership    
Expenses    
Net income 3,618 554
Comprehensive income:    
Net income 3,618 554
Unrealized cash flow hedge gains (losses) 861 (100)
Realized cash flow hedge gains reclassified to net income (874) (672)
Comprehensive income attributable to noncontrolling interests: $ (3,606) $ 218