Armada Hoffler Q3 2024: GAAP net loss of $10.4M, normalized FFO $0.35, narrows FY guidance

AH Realty Trust, Inc.

2024-Q3 EPS reported $0.05 revenue$565,870,000

GAAP net loss of $10.4M ($0.11/diluted share) vs net income of $5.3M in Q3 2023.
Normalized FFO of $31.4M ($0.35/diluted share), up from $0.31 in Q4 2023 and $0.34 in Q2 2024.
Office same-store NOI grew 6.1% (GAAP); occupancy rose to 94.7% and renewal spreads were +18.5% GAAP.
Retail occupancy climbed to 96.2%; renewal spreads of +13.1% GAAP and +7.8% cash.
Narrowed FY 2024 normalized FFO guidance to $1.25-$1.27 per diluted share; portfolio occupancy 95.4%.

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