Armada Hoffler Properties, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 03, 2023 at 06:28 am EDT
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Armada Hoffler Properties, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 59.95 million compared to USD 55.22 million a year ago. Revenue was USD 165.94 million compared to USD 103.85 million a year ago. Net income was USD 14.62 million compared to USD 30.64 million a year ago. Diluted earnings per share from continuing operations was USD 0.13 compared to USD 0.31 a year ago.
For the six months, sales was USD 116.17 million compared to USD 109.86 million a year ago. Revenue was USD 310.11 million compared to USD 186.7 million a year ago. Net income was USD 19.88 million compared to USD 42.82 million a year ago. Diluted earnings per share from continuing operations was USD 0.16 compared to USD 0.42 a year ago.
Armada Hoffler Properties, Inc. is a vertically integrated, self-managed real estate investment trust (REIT). The Company is engaged in developing, building, acquiring, and managing office, retail and multifamily properties located primarily in the Mid-Atlantic & Southeastern United States. The Company operates through five segments: office real estate, retail real estate, multifamily real estate, general contracting & real estate services, and real estate financing. The Company's general contracting, and real estate services business develops and builds properties for its own account and provides construction and development services to both related and third parties. The real estate financing segment includes the Company's mezzanine loans and preferred equity investments on development projects. The Company also provides general construction and development services to third-party clients, in addition to developing and building properties to be placed in their stabilized portfolio.
ARMADA HOFFLER PROPERTIES, INC. 
