AH Realty Trust Inc 2026年季度报告

☑QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934For the quarterly period ended March 31, 2026or☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period fromtoCommission File Number: 001-35908 AH REALTY TRUST, INC. (Exact name of registrant as specified in its charter) 46-1214914 (I.R.S. Employer Identification No.) 23462(Zip Code) Name of each exchange on which registered Indicate by check mark whether the Registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the Securities Exchange Act of 1934during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2)has been subject to such filingrequirements for the past 90 days.☒Yes☐No Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 ofRegulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit suchfiles).☒Yes☐No Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or anemerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company"in Rule 12b-2 of the Exchange Act. Accelerated Filer☒SmallerReportingCompany☐Emerging Growth Company☐ Large Accelerated Filer☐Non-Accelerated Filer☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new orrevised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).☐Yes☒No As of May1, 2026, the registrant had 75,955,396 shares of common stock, $0.01 par value per share, outstanding. In addition, as of May1, 2026, AH RealtyTrust, LP, the registrant's operating partnership subsidiary, had 24,757,199 units of limited partnership interest ("OP Units" , including LTIP Units,outstanding (other than OP Units held by the registrant). AH REALTY TRUST, INC. QUARTERLY REPORT ON FORM 10-QFOR THE QUARTER ENDED MARCH31, 2026 Table of Contents Part I.Financial Information(Unaudited) Item1.Financial StatementsCondensed Consolidated Balance SheetsCondensed Consolidated Statements of Comprehensive LossCondensed Consolidated Statements of EquityCondensed Consolidated Statements of Cash FlowsNotes to Condensed Consolidated Financial StatementsItem2.Management’s Discussion and Analysis of Financial Condition and Results of OperationsItem3.Quantitative and Qualitative Disclosures about Market RiskItem4.Controls and ProceduresPart II.Other Information(Unaudited)Item1.Legal ProceedingsItem1A.Risk FactorsItem2.Unregistered Sales of Equity Securities and Use of ProceedsItem3.Defaults Upon Senior SecuritiesItem4.Mine Safety DisclosuresItem5.Other InformationItem6.ExhibitsSignatures PART I. Financial Information AH REALTY TRUST, INC.Condensed Consolidated Balance Sheets(In thousands, except par value and share data) AH REALTY TRUST, INC.Condensed Consolidated Statements of Cash Flows (Continued) (In thousands) (Unaudited) Supplemental Disclosures: (1) The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported in the Condensed Consolidated Statements of Cash Flows (in thousands): End of quarter: Cash, cash equivalents, and restricted cash (1) Excludes cash and cash equivalents from discontinued operations as of December 31, 2025 and December31, 2024 of $10.2 million and $48.7 million, respectively.(2) Restricted cash represents amounts held by lenders for real estate taxes, insurance, and reserves for capital improvements.(3) Excludes restricted cash from discontinued operations as of December 31, 2025 and December31, 2024 of $1.6 million and $1.5 million, respectively.(4) Excludes cash and cash equivalents from discontinued operations as of March31, 2026 and March31, 2025 of $8.9 million and $20.4 million, respectively.(5) Excludes restricted cash from discontinued operations as of March31, 2026 and March31, 2025 of $2.0 million and $1.9 million, respectively. AH REALTY TRUST, INC.Notes to Condensed Consolidated Financial Statements(Unaudited) 1. Business of Organization AH Realty Trust, Inc. (the "Company"), formerly known as Armada Hoffler Properties, Inc., is a real estate investment trust ("REIT")with over four decades of experience that owns, operates, and acquires high-quality retail and office properties located primarily in theMid-Atlantic and Southeast United States. In February 2026, the Company announced a series of strategic actions designed to sharpen its long‑term focus and simplify its bus