Armada Hoffler Properties, Inc. (NYSE:AHH) Q4 2018 Earnings Conference Call Transcript

Feb 07, 2019 • 08:30 am ET


Armada Hoffler Properties, Inc. (NYSE:AHH) Q4 2018 Earnings Conference Call Transcript


Loading Event

Loading Transcript


Welcome to Armada Hoffler's Fourth Quarter 2018 Earnings Conference Call. At this time, all participants are in a listen-only mode. After management's prepared remarks, you'll be invited to participate in a question-and-answer session. (Operator Instructions) As a reminder, this conference call is being recorded today, Thursday, February 7, 2019.

I will now turn the conference call over to Michael O'Hara, Chief Financial Officer at Armada Hoffler. Please go ahead.

Michael P. O'Hara

Good morning, and thank you for joining Armada Hoffler's fourth quarter and full year 2018 earnings conference call and webcast. On this call this morning, in addition to myself, is Lou Haddad, CEO.

The press release announcing our fourth quarter earnings, along with our quarterly supplemental package and our 2019 guidance presentation, were distributed this morning. Replay of this call will be available shortly after the conclusion of the call through March 7, 2019. The numbers to access the replay are provided in the earnings press release. For those who listen to the rebroadcast of this presentation, I remind you that the remarks made herein are as of today, February 7, 2019, and will not be updated subsequent to this initial earnings call.

During this call, we will make forward-looking statements, including statements related to the future performance of our portfolio, our development pipeline, impact of acquisitions and dispositions, our mezzanine program, our construction business, our portfolio performance and financing activities, as well as comments on our guidance and outlook. Listeners are cautioned that these statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond our control. These risks and uncertainties can cause actual results to differ materially from our current expectations, and we advise listeners to review the forward-looking statement disclosure in our press release this morning and the risk factors disclosed in documents we have filed with or furnished to the SEC.

We will also discuss certain non-GAAP financial measures, including but not limited to FFO and normalized FFO. Definitions of these non-GAAP measures as well as reconciliations to the most comparable GAAP measures are included in the quarterly supplemental package, which is available on our website,

We will start the call today by discussing our 2019 guidance. At this time, I'd like to draw your attention to our 2019 guidance presentation that we published this morning. I'll now turn over the call to Lou.

Louis S. Haddad

Thanks, Mike. Good morning, everyone, and thank you for joining us today.

This month, Armada Hoffler will celebrate its 40th anniversary. We take a good deal of pride in achieving this milestone not often seen in the commercial real estate business. Over the years, we've earned a reputation for integrity, consistency, and professionalism, traits that are the foundation of our success. Complementing our seasoned management team, we have a vibrant young staff and like-minded partners that have us positioned for even greater achievements in the future.

In addition to analysts and investors, there are many employees and joint venture partners listening in on the call today.