WallStSmart

Armada Hflr Pr (AHH)vsEmpire State Realty Trust Inc (ESRT)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Empire State Realty Trust Inc generates 174% more annual revenue ($776.71M vs $283.06M). ESRT leads profitability with a 5.1% profit margin vs 0.0%. AHH appears more attractively valued with a PEG of 6.94. AHH earns a higher WallStSmart Score of 55/100 (C).

AHH

Buy

55

out of 100

Grade: C

Growth: 3.3Profit: 3.5Value: 5.3Quality: 5.0

ESRT

Hold

46

out of 100

Grade: D+

Growth: 3.3Profit: 5.0Value: 6.0Quality: 3.0
Piotroski: 3/9Altman Z: 0.74
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

AHHUndervalued (+25.1%)

Margin of Safety

+25.1%

Fair Value

$9.29

Current Price

$6.25

$3.04 discount

UndervaluedFair: $9.29Overvalued
ESRTUndervalued (+51.9%)

Margin of Safety

+51.9%

Fair Value

$13.25

Current Price

$5.27

$7.98 discount

UndervaluedFair: $13.25Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

AHH1 strengths · Avg: 10.0/10
Price/BookValuation
1.1x10/10

Reasonable price relative to book value

ESRT1 strengths · Avg: 10.0/10
Price/BookValuation
0.9x10/10

Reasonable price relative to book value

Areas to Watch

AHH4 concerns · Avg: 3.3/10
P/E RatioValuation
28.4x4/10

Moderate valuation

Market CapQuality
$647.90M3/10

Smaller company, higher risk/reward

Profit MarginProfitability
0.0%3/10

0.0% margin — thin

Operating MarginProfitability
0.3%3/10

Operating margin of 0.3%

ESRT4 concerns · Avg: 3.5/10
P/E RatioValuation
27.5x4/10

Moderate valuation

Revenue GrowthGrowth
4.9%4/10

4.9% revenue growth

Market CapQuality
$1.77B3/10

Smaller company, higher risk/reward

Return on EquityProfitability
3.8%3/10

ROE of 3.8% — below average capital efficiency

Comparative Analysis Report

WallStSmart Research

Bull Case : AHH

The strongest argument for AHH centers on Price/Book.

Bull Case : ESRT

The strongest argument for ESRT centers on Price/Book.

Bear Case : AHH

The primary concerns for AHH are P/E Ratio, Market Cap, Profit Margin. Thin 0.0% margins leave little buffer for downturns.

Bear Case : ESRT

The primary concerns for ESRT are P/E Ratio, Revenue Growth, Market Cap. Debt-to-equity of 2.21 is elevated, increasing financial risk.

Key Dynamics to Monitor

ESRT carries more volatility with a beta of 1.36 — expect wider price swings.

ESRT is growing revenue faster at 4.9% — sustainability is the question.

ESRT generates stronger free cash flow (51M), providing more financial flexibility.

Monitor REIT - DIVERSIFIED industry trends, competitive dynamics, and regulatory changes.

Bottom Line

AHH scores higher overall (55/100 vs 46/100). ESRT offers better value entry with a 51.9% margin of safety. Both earn "Buy" and "Hold" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

Armada Hflr Pr

REAL ESTATE · REIT - DIVERSIFIED · USA

Armada Hoffler Properties, Inc. (NYSE: AHH) is a vertically integrated, self-managed real estate investment trust (REIT) with four decades of experience in the development, construction, acquisition and management of high-end office, retail and institutional grade quality. and multi-family properties located primarily in the mid-Atlantic and southeastern United States.

Empire State Realty Trust Inc

REAL ESTATE · REIT - DIVERSIFIED · USA

Empire State Realty Trust, Inc. (NYSE: ESRT), a major real estate investment trust (REIT), owns, manages, operates, acquires and repositions offices and retail properties in Manhattan and the New York metropolitan area, including the Empire State Building, the?

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