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Armada Hoffler Properties (FRA:791) Cyclically Adjusted PB Ratio : 2.05 (As of Jun. 08, 2024)


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What is Armada Hoffler Properties Cyclically Adjusted PB Ratio?

As of today (2024-06-08), Armada Hoffler Properties's current share price is €9.85. Armada Hoffler Properties's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2024 was €4.80. Armada Hoffler Properties's Cyclically Adjusted PB Ratio for today is 2.05.

The historical rank and industry rank for Armada Hoffler Properties's Cyclically Adjusted PB Ratio or its related term are showing as below:

FRA:791' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 1.94   Med: 3.2   Max: 5.38
Current: 2.05

During the past years, Armada Hoffler Properties's highest Cyclically Adjusted PB Ratio was 5.38. The lowest was 1.94. And the median was 3.20.

FRA:791's Cyclically Adjusted PB Ratio is ranked worse than
85.45% of 495 companies
in the REITs industry
Industry Median: 0.76 vs FRA:791: 2.05

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.

Armada Hoffler Properties's adjusted book value per share data for the three months ended in Mar. 2024 was €5.498. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is €4.80 for the trailing ten years ended in Mar. 2024.

Shiller PE for Stocks: The True Measure of Stock Valuation


Armada Hoffler Properties Cyclically Adjusted PB Ratio Historical Data

The historical data trend for Armada Hoffler Properties's Cyclically Adjusted PB Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Armada Hoffler Properties Cyclically Adjusted PB Ratio Chart

Armada Hoffler Properties Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only - - 4.79 2.94 2.47

Armada Hoffler Properties Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
Cyclically Adjusted PB Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2.79 2.59 2.13 2.47 1.95

Competitive Comparison of Armada Hoffler Properties's Cyclically Adjusted PB Ratio

For the REIT - Diversified subindustry, Armada Hoffler Properties's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Armada Hoffler Properties's Cyclically Adjusted PB Ratio Distribution in the REITs Industry

For the REITs industry and Real Estate sector, Armada Hoffler Properties's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Armada Hoffler Properties's Cyclically Adjusted PB Ratio falls into.



Armada Hoffler Properties Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

Armada Hoffler Properties's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=9.85/4.8
=2.05

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Armada Hoffler Properties's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2024 is calculated as:

For example, Armada Hoffler Properties's adjusted Book Value per Share data for the three months ended in Mar. 2024 was:

Adj_Book=Book Value per Share/CPI of Mar. 2024 (Change)*Current CPI (Mar. 2024)
=5.498/131.7762*131.7762
=5.498

Current CPI (Mar. 2024) = 131.7762.

Armada Hoffler Properties Quarterly Data

Book Value per Share CPI Adj_Book
201406 -1.890 100.560 -2.477
201409 -0.070 100.428 -0.092
201412 -0.087 99.070 -0.116
201503 -0.071 99.621 -0.094
201506 0.286 100.684 0.374
201509 0.342 100.392 0.449
201512 1.512 99.792 1.997
201603 2.084 100.470 2.733
201606 2.417 101.688 3.132
201609 2.805 101.861 3.629
201612 3.746 101.863 4.846
201703 3.701 102.862 4.741
201706 4.613 103.349 5.882
201709 4.335 104.136 5.486
201712 4.263 104.011 5.401
201803 4.036 105.290 5.051
201806 4.711 106.317 5.839
201809 4.752 106.507 5.879
201812 4.813 105.998 5.984
201903 5.059 107.251 6.216
201906 4.942 108.070 6.026
201909 5.383 108.329 6.548
201912 5.522 108.420 6.712
202003 5.344 108.902 6.467
202006 5.345 108.767 6.476
202009 5.102 109.815 6.122
202012 4.900 109.897 5.876
202103 5.016 111.754 5.915
202106 4.982 114.631 5.727
202109 5.062 115.734 5.764
202112 5.397 117.630 6.046
202203 6.022 121.301 6.542
202206 6.465 125.017 6.815
202209 7.184 125.227 7.560
202212 6.639 125.222 6.987
202303 6.373 127.348 6.595
202306 6.262 128.729 6.410
202309 6.209 129.860 6.301
202312 5.513 129.419 5.613
202403 5.498 131.776 5.498

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.


Armada Hoffler Properties  (FRA:791) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


Armada Hoffler Properties Cyclically Adjusted PB Ratio Related Terms

Thank you for viewing the detailed overview of Armada Hoffler Properties's Cyclically Adjusted PB Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.


Armada Hoffler Properties (FRA:791) Business Description

Traded in Other Exchanges
Address
222 Central Park Avenue, Suite 2100, Virginia Beach, VA, USA, 23462
Armada Hoffler Properties Inc is a real estate company. It engages in developing, building, owning and managing the high-quality, institutional-grade office, retail, and multifamily properties in various markets throughout the Mid-Atlantic and Southeastern United States. The company's operating segment includes office real estate, retail real estate, multifamily residential real estate, and general contracting and real estate services. It generates maximum revenue from the general contracting and real estate services segment.

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