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Side-by-side financial comparison of Armada Hoffler Properties, Inc. (AHH) and Claros Mortgage Trust, Inc. (CMTG). Click either name above to swap in a different company.
Armada Hoffler Properties, Inc. is the larger business by last-quarter revenue ($75.6M vs $46.7M, roughly 1.6× Claros Mortgage Trust, Inc.). Armada Hoffler Properties, Inc. runs the higher net margin — 3.1% vs -468.9%, a 472.1% gap on every dollar of revenue. On growth, Armada Hoffler Properties, Inc. posted the faster year-over-year revenue change (0.8% vs -22.4%). Over the past eight quarters, Claros Mortgage Trust, Inc.'s revenue compounded faster (-10.9% CAGR vs -22.8%).
Armada Hoffler Properties, Inc. is a publicly traded U.S. real estate investment trust operating across the Mid-Atlantic and Southeast regions. It develops, owns, and manages a diversified portfolio of office, retail, and multifamily residential properties, and also offers construction and development services for third-party clients.
Claros Mortgage Trust, Inc. is a U.S.-based real estate investment trust that invests in diversified mortgage-related assets, including residential and commercial mortgage loans and mortgage-backed securities. It pursues stable, risk-adjusted long-term returns for shareholders via rigorous asset evaluation and active portfolio management.
AHH vs CMTG — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $75.6M | $46.7M |
| Net Profit | $2.4M | $-219.2M |
| Gross Margin | — | — |
| Operating Margin | 31.0% | — |
| Net Margin | 3.1% | -468.9% |
| Revenue YoY | 0.8% | -22.4% |
| Net Profit YoY | -89.8% | -117.7% |
| EPS (diluted) | $0.00 | $-1.56 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $75.6M | $46.7M | ||
| Q3 25 | $23.2M | $46.1M | ||
| Q2 25 | $32.0M | $51.6M | ||
| Q1 25 | $46.6M | $43.4M | ||
| Q4 24 | $75.0M | $60.2M | ||
| Q3 24 | $114.4M | $64.9M | ||
| Q2 24 | $116.8M | $64.5M | ||
| Q1 24 | $127.0M | $58.8M |
| Q4 25 | $2.4M | $-219.2M | ||
| Q3 25 | $80.0K | $-9.5M | ||
| Q2 25 | $5.9M | $-181.7M | ||
| Q1 25 | $-2.8M | $-78.6M | ||
| Q4 24 | $23.4M | $-100.7M | ||
| Q3 24 | $-5.0M | $-56.2M | ||
| Q2 24 | $3.2M | $-11.6M | ||
| Q1 24 | $14.1M | $-52.8M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 45.0% | — | ||
| Q2 24 | 41.8% | — | ||
| Q1 24 | 37.9% | — |
| Q4 25 | 31.0% | — | ||
| Q3 25 | 91.5% | — | ||
| Q2 25 | 63.9% | — | ||
| Q1 25 | 33.8% | — | ||
| Q4 24 | 50.1% | — | ||
| Q3 24 | 19.0% | — | ||
| Q2 24 | 11.9% | — | ||
| Q1 24 | 15.1% | — |
| Q4 25 | 3.1% | -468.9% | ||
| Q3 25 | 0.3% | -20.7% | ||
| Q2 25 | 18.6% | -351.9% | ||
| Q1 25 | -6.0% | -181.3% | ||
| Q4 24 | 31.2% | -167.2% | ||
| Q3 24 | -4.4% | -86.7% | ||
| Q2 24 | 2.7% | -17.9% | ||
| Q1 24 | 11.1% | -89.7% |
| Q4 25 | $0.00 | $-1.56 | ||
| Q3 25 | $-0.04 | $-0.07 | ||
| Q2 25 | $0.04 | $-1.30 | ||
| Q1 25 | $-0.07 | $-0.56 | ||
| Q4 24 | $0.28 | $-0.72 | ||
| Q3 24 | $-0.11 | $-0.40 | ||
| Q2 24 | $0.00 | $-0.09 | ||
| Q1 24 | $0.17 | $-0.39 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $49.1M | $173.2M |
| Total DebtLower is stronger | $1.5B | $3.2B |
| Stockholders' EquityBook value | $627.8M | $1.5B |
| Total Assets | $2.6B | $4.7B |
| Debt / EquityLower = less leverage | 2.43× | 2.06× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $49.1M | $173.2M | ||
| Q3 25 | $46.5M | $339.5M | ||
| Q2 25 | $52.1M | $209.2M | ||
| Q1 25 | $45.7M | $127.8M | ||
| Q4 24 | $31.9M | $99.1M | ||
| Q3 24 | $43.9M | $113.9M | ||
| Q2 24 | $20.3M | $148.2M | ||
| Q1 24 | $41.9M | $232.5M |
| Q4 25 | $1.5B | $3.2B | ||
| Q3 25 | $1.5B | $3.7B | ||
| Q2 25 | $1.4B | $4.0B | ||
| Q1 25 | $1.3B | $4.7B | ||
| Q4 24 | $1.3B | $4.9B | ||
| Q3 24 | $1.3B | $5.1B | ||
| Q2 24 | $1.4B | $5.3B | ||
| Q1 24 | $1.4B | $5.5B |
| Q4 25 | $627.8M | $1.5B | ||
| Q3 25 | $638.8M | $1.7B | ||
| Q2 25 | $652.0M | $1.8B | ||
| Q1 25 | $657.4M | $1.9B | ||
| Q4 24 | $670.6M | $2.0B | ||
| Q3 24 | $663.9M | $2.1B | ||
| Q2 24 | $562.7M | $2.2B | ||
| Q1 24 | $571.4M | $2.2B |
| Q4 25 | $2.6B | $4.7B | ||
| Q3 25 | $2.6B | $5.4B | ||
| Q2 25 | $2.6B | $5.8B | ||
| Q1 25 | $2.5B | $6.7B | ||
| Q4 24 | $2.5B | $7.0B | ||
| Q3 24 | $2.6B | $7.3B | ||
| Q2 24 | $2.6B | $7.6B | ||
| Q1 24 | $2.6B | $7.8B |
| Q4 25 | 2.43× | 2.06× | ||
| Q3 25 | 2.33× | 2.09× | ||
| Q2 25 | 2.22× | 2.29× | ||
| Q1 25 | 2.01× | 2.42× | ||
| Q4 24 | 1.93× | 2.44× | ||
| Q3 24 | 2.00× | 2.44× | ||
| Q2 24 | 2.52× | 2.46× | ||
| Q1 24 | 2.50× | 2.47× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $2.4M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $2.4M | ||
| Q3 25 | $26.3M | $8.8M | ||
| Q2 25 | $11.1M | $-5.8M | ||
| Q1 25 | $107.0K | $-35.8M | ||
| Q4 24 | $20.8M | $18.3M | ||
| Q3 24 | $27.3M | $39.2M | ||
| Q2 24 | $17.4M | $5.5M | ||
| Q1 24 | $46.5M | $21.5M |
| Q4 25 | — | — | ||
| Q3 25 | 328.63× | — | ||
| Q2 25 | 1.87× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.89× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 5.48× | — | ||
| Q1 24 | 3.30× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AHH
| Office Real Estate Segment | $28.8M | 38% |
| Retail Real Estate Segment | $25.4M | 34% |
| Multifamily Residential Real Estate | $17.7M | 23% |
| Real Estate Financing Segment | $3.6M | 5% |
CMTG
| Real Estate Owned Portfolio | $34.2M | 73% |
| Other | $11.1M | 24% |
| Mixed Use Property Fixed Rents | $1.4M | 3% |
