Armada Hoffler Properties, Inc. reported GAAP net income of $3.9 million, or $0.04 per diluted share, for the second quarter of 2025. Normalized FFO for the quarter was $0.25 per diluted share, compared to $0.30 per diluted share in the second quarter of 2024, and missed analyst estimates of $0.26 per share.
The company's portfolio demonstrated same-store NOI growth of 1.4% (GAAP), with positive office re-leasing spreads of 11.7% (GAAP) and retail renewal spreads of 10.8% (GAAP). Occupancy rates remained strong across retail (94.2%), office (96.3%), and multifamily (94.0%) stabilized operating property portfolios.
Armada Hoffler maintained its full-year 2025 Normalized FFO guidance range of $1.00 to $1.10 per diluted share. The company's debt was 94% fixed or economically hedged as of June 30, 2025, reflecting its commitment to prudent financial management and stability.
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