$6.68
-1.1%Armada Hoffler Properties, Inc. (NYSE: AHH) is a vertically-integrated, self-managed real estate investment trust (REIT) with four decades of experience developing, building, acquiring, and managing high-quality, institutional-grade office, retail, and multifamily properties located primarily in the Mid-Atlantic and Southeastern United States. In addition to developing and building properties for its own account, the Company also provides development and general contracting construction services to third-party clients. Founded in 1979 by Daniel A. Hoffler, the Company has elected to be taxed as a REIT for U.S. federal income tax purposes.
Warren Buffett's Owner Earnings DCF analysis for intrinsic value calculation
Base year metrics used for projections
Forecast period and terminal assumptions
Calculation flow from present value to intrinsic value per share
Operating Cash Flow - Maintenance CapEx = Owner Earnings
| Metric | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Year 6 | Year 7 | Year 8 | Year 9 | Year 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $31.4M | $15.7M | $7.9M | $3.9M | $2.0M | $982.3K | $491.2K | $245.6K | $122.8K | $61.4K |
| Maintenance CapEx | -$4.6M | -$2.3M | -$1.2M | -$578.2K | -$289.1K | -$144.5K | -$72.3K | -$36.1K | -$18.1K | -$9.0K |
| Owner Earnings | $26.8M | $13.4M | $6.7M | $3.4M | $1.7M | $837.8K | $418.9K | $209.5K | $104.7K | $52.4K |
| Discount Factor | 0.926 | 0.857 | 0.794 | 0.735 | 0.681 | 0.630 | 0.583 | 0.540 | 0.500 | 0.463 |
| Present Value | $24.8M | $11.5M | $5.3M | $2.5M | $1.1M | $528.0K | $244.4K | $113.2K | $52.4K | $24.3K |
Snapshot
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Value Model
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Statements
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Earnings Call
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Dividends
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Analyst Expectations
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