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 171% more annual revenue ($767.81M vs $283.06M). ESRT leads profitability with a 6.2% profit margin vs 2.0%. AHH appears more attractively valued with a PEG of 6.94. ESRT earns a higher WallStSmart Score of 59/100 (C).

AHH

Buy

55

out of 100

Grade: C

Growth: 3.3Profit: 5.0Value: 7.3Quality: 5.0

ESRT

Buy

59

out of 100

Grade: C

Growth: 6.0Profit: 5.0Value: 7.3Quality: 4.8
Piotroski: 2/9
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

AHHUndervalued (+32.4%)

Margin of Safety

+32.4%

Fair Value

$10.30

Current Price

$6.25

$4.05 discount

UndervaluedFair: $10.30Overvalued
ESRTUndervalued (+45.5%)

Margin of Safety

+45.5%

Fair Value

$11.70

Current Price

$5.01

$6.69 discount

UndervaluedFair: $11.70Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

AHH2 strengths · Avg: 10.0/10
Price/BookValuation
1.1x10/10

Reasonable price relative to book value

Operating MarginProfitability
31.1%10/10

Strong operational efficiency at 31.1%

ESRT2 strengths · Avg: 10.0/10
Price/BookValuation
0.8x10/10

Reasonable price relative to book value

EPS GrowthGrowth
75.4%10/10

Earnings expanding 75.4% YoY

Areas to Watch

AHH4 concerns · Avg: 3.0/10
P/E RatioValuation
28.4x4/10

Moderate valuation

Market CapQuality
$647.90M3/10

Smaller company, higher risk/reward

Profit MarginProfitability
2.0%3/10

2.0% margin — thin

PEG RatioValuation
6.942/10

Expensive relative to growth rate

ESRT4 concerns · Avg: 3.3/10
Revenue GrowthGrowth
0.8%4/10

0.8% revenue growth

Market CapQuality
$1.51B3/10

Smaller company, higher risk/reward

Return on EquityProfitability
4.0%3/10

ROE of 4.0% — below average capital efficiency

Profit MarginProfitability
6.2%3/10

6.2% margin — thin

Comparative Analysis Report

WallStSmart Research

Bull Case : AHH

The strongest argument for AHH centers on Price/Book, Operating Margin.

Bull Case : ESRT

The strongest argument for ESRT centers on Price/Book, EPS Growth.

Bear Case : AHH

The primary concerns for AHH are P/E Ratio, Market Cap, Profit Margin. Thin 2.0% margins leave little buffer for downturns.

Bear Case : ESRT

The primary concerns for ESRT are Revenue Growth, Market Cap, Return on Equity.

Key Dynamics to Monitor

ESRT carries more volatility with a beta of 1.38 — expect wider price swings.

ESRT is growing revenue faster at 0.8% — sustainability is the question.

AHH generates stronger free cash flow (16M), providing more financial flexibility.

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

Bottom Line

ESRT scores higher overall (59/100 vs 55/100). AHH offers better value entry with a 32.4% margin of safety. Both earn "Buy" and "Buy" 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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