Armada Hoffler Announces Morningstar Upgrades Outlook to Stable and Confirms BBB Credit Rating
10 Enero 2025 - 5:00AM
Armada Hoffler (NYSE: AHH) announced that Morningstar has upgraded
its outlook to stable and confirmed its BBB credit rating.
“We are pleased that Morningstar has upgraded our
outlook to stable and reiterated our BBB credit rating,” said Shawn
Tibbetts, Chief Executive Officer and President of Armada Hoffler.
“This reflects the quality, stability and strategic execution that
define Armada Hoffler’s operations. Furthermore, it demonstrates
the dedication of our team and our commitment to delivering value
to our shareholders.”
In its analysis of the Company, Morningstar, a
globally recognized credit rating agency, cited several factors
supporting the rating confirmation. According to Morningstar, “the
Stable trend reflects the [company’s] improving leverage profile
and the more diversified real estate portfolio following the
completion and delivery of Allied, leading to an improvement in the
Diversification business risk assessment factor. Allied is a
mixed-use, 312-unit multifamily, retail, and parking garage asset
under development in Baltimore, scheduled to be completed in Q1
2025 and stabilized by Q3 2026. Upon stabilization, the asset is
expected to be a top asset in the portfolio by net operating income
(NOI) contribution and increase geographical and asset type
diversification. The enhanced business risk assessment factor
allows greater financial flexibility within the respective credit
rating category. The improving leverage profile is largely the
result of a $103.5 million net proceed equity raise in September
2024 with funds used to repay debt.”
More information regarding Armada Hoffler’s credit
rating assignment can be found in the Morningstar press release
dated January 9, 2025.
About Armada Hoffler
Armada Hoffler (NYSE: AHH) is a vertically
integrated, self-managed real estate investment trust (“REIT”) with
over four decades of experience developing, building, acquiring,
and managing high-quality office, retail, and multifamily
properties located primarily in the Mid-Atlantic and Southeastern
United States. We also provide general construction and development
services to third-party clients, in addition to developing and
building properties to be placed in our stabilized portfolio.
Founded in 1979 by Daniel A. Hoffler, Armada Hoffler has elected to
be taxed as a REIT for U.S. federal income tax purposes. For more
information visit ArmadaHoffler.com.
Contact:
Chelsea Forrest
Armada Hoffler
Vice President of Corporate Communications and
Investor Relations
Email: CForrest@ArmadaHoffler.com
Phone: (757) 612-4248
Armada Hoffler Properties (NYSE:AHH)
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Armada Hoffler Properties (NYSE:AHH)
Gráfica de Acción Histórica
De Ene 2024 a Ene 2025
