Ah Realty Trust, Inc. · NYSE:AHRT
Ah Realty Trust — Armada Hoffler Properties — Earnings Presentation (February 2024)
6 slides from Ah Realty Trust's earnings presentation, Feb 22, 2024
Slide 1: Guidance Presentation 2024
1CLICK TO EDIT MASTER TITLE STYLE GUIDANCE PRESENTATION 2024
Slide 2: Forward-Looking Statements
2FORWARD-LOOKING STATEMENTS This presentation should be read in conjunction with the unaudited condensed consolidated financial statements appearing in our press release dated February 22, 2024, which has been furnished as Exhibit 99.1 to our Form 8-K furnished on February 22, 2024. The Company make
Slide 3: 2024 Outlook & Assumptions
32024 OUTLOOK & ASSUMPTIONS LOW HIGH PORTFOLIO NOI $165.6M $170.0M CONSTRUCTION SEGMENT PROFIT $12.8M $14.3M G&A EXPENSES $18.8M $18.2M INTEREST INCOME $18.8M $19.4M INTEREST EXPENSE(1) $57.4M $56.8M NORMALIZED FFO PER DILUTED SHARE $1.21 $1.27 GUIDANCE ASSUMPTIONS • Southern Post and T. Rowe Price
Slide 4: Estimated NOI & Fee Income
4ESTIMATED NOI & FEE INCOME (1) Based on management’s guidance. (2) Includes adjustment for noncontrolling interest in investment entities. (3) JV property income for 2024 includes $2.4M derived from the T. Rowe Price Global HQ and carries ($1.7M) from Allied | Harbor Point, resulting in estimated n
Slide 5: Evolving Stabilized Portfolio GAAP NOI Composition
5 41% 32% 22% 5% EVOLVING STABILIZED PORTFOLIO GAAP NOI COMPOSITION 2023 2024E Guidance Midpoint Retail Multifamily Off ice Projected Property Segment NOI Fully Stabilized (1) Includes AHH rent. (2) Assumes Southern Post is delivered and stabilized consistent with the schedule on page 17 of the 4Q23
Slide 6: Trend Comparisons
6TREND COMPARISONS $ IN MILLIONS $0 $20 $40 $60 $80 $100 $120 $140 $160 $180 $200 NOI EBITDA NFFO Total Dividend 2022 2023 2024E 2022 2023 2024E NOI $151 $159 $167 EBITDA $158 $175 $182 NFFO $107 $110 $112 Total Dividend $62 $69 $73
Armada Hoffler Properties — Earnings Presentation (February 2024) on 6ix