AHH
Armada Hoffler Properties, Inc.
REIT - Diversified
Market Cap$515M
5Y Perf.-25.4%
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Stock Comparison
AHH vs WELL vs GMRE vs EQR
Revenue, margins, valuation, and 5-year total return — side by side.
WELL
Welltower Inc.
REIT - Healthcare Facilities
Market Cap$149.25B
5Y Perf.+320.4%
GMRE
Global Medical REIT Inc.
REIT - Healthcare Facilities
Market Cap$94M
5Y Perf.-35.4%
EQR
Equity Residential
REIT - Residential
Market Cap$24.68B
5Y Perf.+8.8%
AHH vs WELL vs GMRE vs EQR — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | AHH | WELL | GMRE | EQR |
|---|---|---|---|---|
| Industry | REIT - Diversified | REIT - Healthcare Facilities | REIT - Healthcare Facilities | REIT - Residential |
| Market Cap | $515M | $149.25B | $94M | $24.68B |
| Revenue (TTM) | $325M | $11.63B | $148M | $3.12B |
| Net Income (TTM) | $-22M | $1.43B | $2M | $954M |
| Gross Margin | 31.3% | 39.1% | 68.8% | 46.3% |
| Operating Margin | 24.7% | 4.4% | 24.9% | 28.5% |
| Forward P/E | — | 78.4x | 595.7x | 50.6x |
| Total Debt | $1.65B | $21.38B | $654M | $8.78B |
| Cash & Equiv. | $49M | $5.03B | $7M | $56M |
AHH vs WELL vs GMRE vs EQR — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
AHH
WELL
GMRE
EQR
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| Armada Hoffler Prop… (AHH) | 100 | 74.6 | -25.4% |
| Welltower Inc. (WELL) | 100 | 420.4 | +320.4% |
| Global Medical REIT… (GMRE) | 100 | 64.6 | -35.4% |
| Equity Residential (EQR) | 100 | 108.8 | +8.8% |
Price return only. Dividends and distributions are not included.
Quick Verdict: AHH vs WELL vs GMRE vs EQR
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: WELL and EQR are tied at the top with 3 categories each — the right choice depends on your priorities. Equity Residential is the stronger pick specifically for valuation and capital efficiency and profitability and margin quality. GMRE also leads in specific categories worth noting. As sector peers, any of these can serve as alternatives in the same allocation.
AHH
Armada Hoffler Properties, Inc.
The REIT Holding
AHH lags the leaders in this set but could rank higher in a more targeted comparison.
Best for: real estate exposure
WELL
Welltower Inc.
The Real Estate Income Play
WELL carries the broadest edge in this set and is the clearest fit for growth exposure and long-term compounding.
- Rev growth 35.8%, EPS growth -11.5%, 3Y rev CAGR 22.7%
- 223.1% 10Y total return vs GMRE's 308.1%
- Lower volatility, beta 0.13, Low D/E 49.5%, current ratio 5.34x
- Beta 0.13, yield 1.3%, current ratio 5.34x
Best for: growth exposure and long-term compounding
GMRE
Global Medical REIT Inc.
The Real Estate Income Play
GMRE is the clearest fit if your priority is income & stability.
- Dividend streak 5 yrs, beta 0.48, yield 63.5%
- 63.5% yield, 5-year raise streak, vs EQR's 4.1%
Best for: income & stability
EQR
Equity Residential
The Real Estate Income Play
EQR is the #2 pick in this set and the best alternative if value and quality is your priority.
- Lower P/E (50.6x vs 595.7x)
- 30.6% margin vs AHH's -6.9%
- 4.6% ROA vs AHH's -0.9%, ROIC 4.2% vs 2.6%
Best for: value and quality
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | WELL | 35.8% FFO/revenue growth vs AHH's -59.7% |
| Value | EQR | Lower P/E (50.6x vs 595.7x) |
| Quality / Margins | EQR | 30.6% margin vs AHH's -6.9% |
| Stability / Safety | WELL | Beta 0.13 vs AHH's 0.70, lower leverage |
| Dividends | GMRE | 63.5% yield, 5-year raise streak, vs EQR's 4.1% |
| Momentum (1Y) | WELL | +42.7% vs EQR's -2.7% |
| Efficiency (ROA) | EQR | 4.6% ROA vs AHH's -0.9%, ROIC 4.2% vs 2.6% |
AHH vs WELL vs GMRE vs EQR — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2024
FY 2025
Segment breakdown not available.
FY 2020
AHH vs WELL vs GMRE vs EQR — Financial Metrics
Side-by-side numbers across 4 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLWELLLAGGINGAHH
Who Leads Where
EQR leads in 2 of 6 categories
WELL leads 2 • GMRE leads 1 • AHH leads 0 • 1 tied
Explore the data ↓AHHArmada Hoffler Proper…
0leads
GMREGlobal Medical REIT I…
1leads
EQREquity Residential
2leads
WELLWelltower Inc.
2leads
6 Total Categories
CATEGORYLEADERvs EQRvs GMREMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
EQR3/6
Valuation MetricsMultiples, price ratios, and targets
GMRE3/6
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
EQR5/9
Total Returns1Y, 3Y, 5Y total returns with dividends
WELL5/6
Risk & VolatilityBeta, volatility, and downside exposure
WELL2/2
Analyst OutlookRatings, price targets, and dividends
Tied
—
Income & Cash Flow (Last 12 Months)
EQR leads this category, winning 3 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
WELL is the larger business by revenue, generating $11.6B annually — 78.6x GMRE's $148M. EQR is the more profitable business, keeping 30.6% of every revenue dollar as net income compared to AHH's -6.9%. On growth, WELL holds the edge at +40.3% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | AHHArmada Hoffler Pr… | WELLWelltower Inc. | GMREGlobal Medical RE… | EQREquity Residential |
|---|---|---|---|---|
| RevenueTrailing 12 months | $325M | $11.6B | $148M | $3.1B |
| EBITDAEarnings before interest/tax | $172M | $2.8B | $95M | $1.9B |
| Net IncomeAfter-tax profit | -$22M | $1.4B | $2M | $954M |
| Free Cash FlowCash after capex | $54M | $2.5B | $19M | $1.3B |
| Gross MarginGross profit ÷ Revenue | +31.3% | +39.1% | +68.8% | +46.3% |
| Operating MarginEBIT ÷ Revenue | +24.7% | +4.4% | +24.9% | +28.5% |
| Net MarginNet income ÷ Revenue | -6.9% | +12.3% | +1.7% | +30.6% |
| FCF MarginFCF ÷ Revenue | +16.7% | +21.9% | +12.6% | +42.7% |
| Rev. Growth (YoY)Latest quarter vs prior year | -54.4% | +40.3% | +18.7% | +2.5% |
| EPS Growth (YoY)Latest quarter vs prior year | -3.6% | +22.5% | -166.2% | -64.2% |
EQR leads this category, winning 3 of 6 comparable metrics.
Valuation Metrics
GMRE leads this category, winning 3 of 6 comparable metrics.
Valuation Metrics
At 22.6x trailing earnings, EQR trades at a 85% valuation discount to WELL's 153.3x P/E. On an enterprise value basis, GMRE's 8.3x EV/EBITDA is more attractive than WELL's 66.4x.
| Metric | AHHArmada Hoffler Pr… | WELLWelltower Inc. | GMREGlobal Medical RE… | EQREquity Residential |
|---|---|---|---|---|
| Market CapShares × price | $515M | $149.2B | $94M | $24.7B |
| Enterprise ValueMkt cap + debt − cash | $2.1B | $165.6B | $741M | $33.4B |
| Trailing P/EPrice ÷ TTM EPS | -49.46x | 153.25x | 115.29x | 22.63x |
| Forward P/EPrice ÷ next-FY EPS est. | — | 78.42x | 595.67x | 50.61x |
| PEG RatioP/E ÷ EPS growth rate | — | — | — | 4.44x |
| EV / EBITDAEnterprise value multiple | 12.22x | 66.40x | 8.35x | 15.61x |
| Price / SalesMarket cap ÷ Revenue | 1.81x | 13.99x | 0.68x | 7.96x |
| Price / BookPrice ÷ Book value/share | 0.79x | 3.35x | 0.17x | 2.24x |
| Price / FCFMarket cap ÷ FCF | 31.02x | 52.41x | — | 19.13x |
GMRE leads this category, winning 3 of 6 comparable metrics.
Profitability & Efficiency
EQR leads this category, winning 5 of 9 comparable metrics.
Profitability & Efficiency
EQR delivers a 8.4% return on equity — every $100 of shareholder capital generates $8 in annual profit, vs $-3 for AHH. WELL carries lower financial leverage with a 0.49x debt-to-equity ratio, signaling a more conservative balance sheet compared to AHH's 1.99x. On the Piotroski fundamental quality scale (0–9), WELL scores 7/9 vs GMRE's 4/9, reflecting strong financial health.
| Metric | AHHArmada Hoffler Pr… | WELLWelltower Inc. | GMREGlobal Medical RE… | EQREquity Residential |
|---|---|---|---|---|
| ROE (TTM)Return on equity | -2.7% | +3.5% | +0.5% | +8.4% |
| ROA (TTM)Return on assets | -0.9% | +2.3% | +0.2% | +4.6% |
| ROICReturn on invested capital | +2.6% | +0.5% | +2.0% | +4.2% |
| ROCEReturn on capital employed | +3.7% | +0.6% | +5.3% | +5.7% |
| Piotroski ScoreFundamental quality 0–9 | 4 | 7 | 4 | 6 |
| Debt / EquityFinancial leverage | 1.99x | 0.49x | 1.18x | 0.77x |
| Net DebtTotal debt minus cash | $1.6B | $16.3B | $647M | $8.7B |
| Cash & Equiv.Liquid assets | $49M | $5.0B | $7M | $56M |
| Total DebtShort + long-term debt | $1.7B | $21.4B | $654M | $8.8B |
| Interest CoverageEBIT ÷ Interest expense | 0.99x | 0.26x | 1.14x | 5.58x |
EQR leads this category, winning 5 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
WELL leads this category, winning 5 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in WELL five years ago would be worth $30,234 today (with dividends reinvested), compared to $7,343 for AHH. Over the past 12 months, WELL leads with a +42.7% total return vs EQR's -2.7%. The 3-year compound annual growth rate (CAGR) favors WELL at 42.5% vs AHH's -11.3% — a key indicator of consistent wealth creation.
| Metric | AHHArmada Hoffler Pr… | WELLWelltower Inc. | GMREGlobal Medical RE… | EQREquity Residential |
|---|---|---|---|---|
| YTD ReturnYear-to-date | -1.1% | +14.3% | +6.9% | +8.4% |
| 1-Year ReturnPast 12 months | +1.5% | +42.7% | +0.1% | -2.7% |
| 3-Year ReturnCumulative with dividends | -30.3% | +189.5% | +5.6% | +17.5% |
| 5-Year ReturnCumulative with dividends | -26.6% | +202.3% | -21.4% | +6.7% |
| 10-Year ReturnCumulative with dividends | +12.0% | +223.1% | +308.1% | +29.3% |
| CAGR (3Y)Annualised 3-year return | -11.3% | +42.5% | +1.8% | +5.5% |
WELL leads this category, winning 5 of 6 comparable metrics.
Risk & Volatility
WELL leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
WELL is the less volatile stock with a 0.13 beta — it tends to amplify market swings less than AHH's 0.70 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. WELL currently trades 97.0% from its 52-week high vs AHH's 83.4% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | AHHArmada Hoffler Pr… | WELLWelltower Inc. | GMREGlobal Medical RE… | EQREquity Residential |
|---|---|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.70x | 0.13x | 0.48x | 0.38x |
| 52-Week HighHighest price in past year | $7.71 | $219.59 | $39.93 | $71.80 |
| 52-Week LowLowest price in past year | $5.14 | $142.65 | $29.05 | $57.58 |
| % of 52W HighCurrent price vs 52-week peak | +83.4% | +97.0% | +89.5% | +91.7% |
| RSI (14)Momentum oscillator 0–100 | 67.1 | 60.2 | 52.7 | 69.8 |
| Avg Volume (50D)Average daily shares traded | 319K | 2.6M | 130K | 2.4M |
WELL leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
Evenly matched — GMRE and EQR each lead in 1 of 2 comparable metrics.
Analyst Outlook
Analyst consensus: AHH as "Hold", WELL as "Buy", GMRE as "Buy", EQR as "Hold". Consensus price targets imply 28.3% upside for AHH (target: $8) vs 6.3% for WELL (target: $227). For income investors, GMRE offers the higher dividend yield at 63.51% vs WELL's 1.30%.
| Metric | AHHArmada Hoffler Pr… | WELLWelltower Inc. | GMREGlobal Medical RE… | EQREquity Residential |
|---|---|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Buy | Buy | Hold |
| Price TargetConsensus 12-month target | $8.25 | $226.50 | $40.00 | $70.15 |
| # AnalystsCovering analysts | 14 | 34 | 22 | 46 |
| Dividend YieldAnnual dividend ÷ price | +11.5% | +1.3% | +63.5% | +4.1% |
| Dividend StreakConsecutive years of raises | 1 | 2 | 5 | 8 |
| Dividend / ShareAnnual DPS | $0.74 | $2.76 | $22.70 | $2.69 |
| Buyback YieldShare repurchases ÷ mkt cap | +0.0% | 0.0% | 0.0% | +1.1% |
Evenly matched — GMRE and EQR each lead in 1 of 2 comparable metrics.
Key Takeaway
EQR leads in 2 of 6 categories (Income & Cash Flow, Profitability & Efficiency). WELL leads in 2 (Total Returns, Risk & Volatility). 1 tied.
Best OverallWelltower Inc. (WELL)Leads 2 of 6 categories
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AHH vs WELL vs GMRE vs EQR: Key Questions Answered
10 questions · data-driven answers · updated daily
01Is AHH or WELL or GMRE or EQR a better buy right now?
For growth investors, Welltower Inc.
(WELL) is the stronger pick with 35. 8% revenue growth year-over-year, versus -59. 7% for Armada Hoffler Properties, Inc. (AHH). Equity Residential (EQR) offers the better valuation at 22. 6x trailing P/E (50. 6x forward), making it the more compelling value choice. Analysts rate Welltower Inc. (WELL) a "Buy" — based on 34 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — AHH or WELL or GMRE or EQR?
On trailing P/E, Equity Residential (EQR) is the cheapest at 22.
6x versus Welltower Inc. at 153. 3x. On forward P/E, Equity Residential is actually cheaper at 50. 6x.
03Which is the better long-term investment — AHH or WELL or GMRE or EQR?
Over the past 5 years, Welltower Inc.
(WELL) delivered a total return of +202. 3%, compared to -26. 6% for Armada Hoffler Properties, Inc. (AHH). Over 10 years, the gap is even starker: GMRE returned +308. 1% versus AHH's +12. 0%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — AHH or WELL or GMRE or EQR?
By beta (market sensitivity over 5 years), Welltower Inc.
(WELL) is the lower-risk stock at 0. 13β versus Armada Hoffler Properties, Inc. 's 0. 70β — meaning AHH is approximately 429% more volatile than WELL relative to the S&P 500. On balance sheet safety, Welltower Inc. (WELL) carries a lower debt/equity ratio of 49% versus 199% for Armada Hoffler Properties, Inc. — giving it more financial flexibility in a downturn.
05Which is growing faster — AHH or WELL or GMRE or EQR?
By revenue growth (latest reported year), Welltower Inc.
(WELL) is pulling ahead at 35. 8% versus -59. 7% for Armada Hoffler Properties, Inc. (AHH). On earnings-per-share growth, the picture is similar: Equity Residential grew EPS 7. 0% year-over-year, compared to -138. 2% for Armada Hoffler Properties, Inc.. Over a 3-year CAGR, WELL leads at 22. 7% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — AHH or WELL or GMRE or EQR?
Equity Residential (EQR) is the more profitable company, earning 36.
1% net margin versus 2. 0% for Armada Hoffler Properties, Inc. — meaning it keeps 36. 1% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: EQR leads at 36. 3% versus 3. 3% for WELL. At the gross margin level — before operating expenses — GMRE leads at 78. 9%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is AHH or WELL or GMRE or EQR more undervalued right now?
On forward earnings alone, Equity Residential (EQR) trades at 50.
6x forward P/E versus 595. 7x for Global Medical REIT Inc. — 545. 1x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for AHH: 28. 3% to $8. 25.
08Which pays a better dividend — AHH or WELL or GMRE or EQR?
All stocks in this comparison pay dividends.
Global Medical REIT Inc. (GMRE) offers the highest yield at 63. 5%, versus 1. 3% for Welltower Inc. (WELL).
09Is AHH or WELL or GMRE or EQR better for a retirement portfolio?
For long-horizon retirement investors, Welltower Inc.
(WELL) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 13), 1. 3% yield, +223. 1% 10Y return). Both have compounded well over 10 years (WELL: +223. 1%, AHH: +12. 0%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between AHH and WELL and GMRE and EQR?
Both stocks operate in the Real Estate sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
In terms of investment character: AHH is a small-cap income-oriented stock; WELL is a mid-cap high-growth stock; GMRE is a small-cap income-oriented stock; EQR is a mid-cap income-oriented stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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