AH Realty Trust (AHRT) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

AH Realty Trust

NYSE•Real Estate•REIT - Diversified

$6.30+0.04(0.01%)Market open

Market Cap

$471.32M

P/S

2.7x

P/B

0.9x

AH REALTY TRUST INC is a vertically integrated, self-managed real estate investment trust. With over four decades of experience developing, building, acquiring, and managing high-quality retail, office, and multifamily properties located primarily in the Mid-Atlantic and Southeastern United States. The Company also provides general construction and development services to third-party clients, in addition to developing and building properties to be placed in their 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. AH REALTY TRUST INC was incorporated in 1979 and is based in Virginia Beach, Virginia.

How this company scores

WeakMetricSide Score: 37/100

Grade capped at D — Interest coverage below 1× (0.7x) — earnings cannot cover interest. Strongest: Cash & Earnings Quality (22/25); weakest: Growth (0/25).

Profitability4/25

Growth0/25

Balance Sheet & Red Flags11/25

Cash & Earnings Quality22/25

Strengths

Rising free cash flowImproving leverage

Grade capped at D

Interest coverage below 1× (0.7x) — earnings cannot cover interest.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 95.8x5y range 10.9x – 97.6x

Currently above its 17-quarter median.

P/S · 2.7x5y range 1.0x – 2.9x

Currently above its 20-quarter median.

P/B · 0.9x5y range 0.7x – 1.4x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

Operating margins dropped 114.9% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.

Earnings Quality

Watch

FCF/Net Income has dropped below 0.7x in 4 quarters — monitor for earnings quality deterioration.

Price & Volume

Market Cap $471.32M

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $174.16M
Q. Revenue: $52.55M
TTM EBITDA: $147.82M
TTM Op. Income: $65.13M
Q. Op. Income: $9.78M
TTM Net Income: $-36.38M
Q. Net Income: $-15.68M
EPS: $-0.25
Shares Out.: $75.29M

$174.16M in TTM revenue declined 68.1% YoY, reaching $52.55M last quarter. TTM EBITDA of $147.82M and TTM operating income of $65.13M show growth is flowing through to the bottom line. However, net income is negative at $36.38M — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has fallen for 7 consecutive quarters — a weakening trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 52.7%
Op. Margin: 18.6%
Net Margin: -29.8%

Op. margin of 18.6% is down 1.1% YoY — costs are rising relative to revenue. Net margin at -29.8% Over the past year, operating margin is down 6% — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 2.7x
P/B Ratio: 0.9x

P/S of 2.7x and P/B of 0.9x. Over the past year, P/E is up 380% — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $1.93B
Cash: $20.66M
Long-Term Debt: $955.86M
Book Value: $529.33M
D/E Ratio: 1.8
Debt/EBITDA: 34.5

With $1.93B in assets and $955.86M in long-term debt, D/E is 1.8and book value is $529.33M — moderate leverage. Across the last 8 quarters, debt/equity has fallen for 2 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $29.20M
TTM Free Cash Flow: $84.15M
FCF Margin: 48.3%
FCF / Net Income: -2.3

TTM FCF of $84.15M on $29.20M in operating cash flow. The FCF / Net Income ratio of -2.3x means the business consumes cash — it is not yet self-funding. Across the last 8 quarters, free cash flow has risen for 2 consecutive quarters — an improving trend.