Armada Hoffler: Developing A Path To Outperformance
- Armada Hoffler is presently undervalued consequent to a variety of temporary negative catalysts. As these catalysts expire, we expect the FFO multiple to improve.
- It is positioned to grow FFO/share through a large (relative to its market cap) pipeline of accretive development opportunities.
- The combination of FFO/share growth with FFO multiple expansion could generate material capital gains.