AH Realty Trust Advances Board Refreshment Process to Support Ongoing Strategic Transformation

AH Realty Trust (NYSE: AHRT) announced board refreshment ahead of its 2026 Annual Meeting, nominating Theodore Bigman and Lori Wittman as new independent director candidates and saying Dennis Gartman and George Allen will not stand for reelection.

Rhea-AI Summary

AH Realty Trust (NYSE: AHRT) announced board refreshment ahead of its 2026 Annual Meeting, nominating Theodore Bigman and Lori Wittman as new independent director candidates and saying Dennis Gartman and George Allen will not stand for reelection.

F. Blair Wimbush was appointed Chair of the Nominating and Corporate Governance Committee. The company emphasized the nominees' real estate, capital markets, and capital allocation expertise.

Positive

• Nominated two independent directors with deep REIT and capital markets expertise
• Appointed F. Blair Wimbush as Chair of the Nominating and Corporate Governance Committee
• New nominees bring combined decades of senior real estate and capital-allocation experience

Negative

• Two incumbent directors, including a long-serving director since 2013, will retire from the Board
• Board turnover could temporarily reduce continuity in governance oversight

Argus Apr 30 session

+1.16% close to close Open Argus

Details

News Market Reaction – AHRT

On Apr 30, the day this news came out, AHRT closed 1.16% above the previous close.

Data tracked by StockTitan Argus for the Apr 30 session.

Key Figures

AUM platform size: more than $25 billion Investment leadership experience: more than 35 years Tenure at Morgan Stanley: 26 years +5 more

AUM platform size

more than $25 billion

Global Listed Real Assets platform built and led by Theodore Bigman

Investment leadership experience

more than 35 years

Theodore Bigman’s experience across financial services and real estate

Tenure at Morgan Stanley

26 years

Time Theodore Bigman spent at Morgan Stanley Investment Management

Company experience

over four decades

AH Realty Trust operating history as a REIT

Current share price

$6.03

Pre-news price from market context

1-day price change

-2.75%

Move in the 24 hours before the board refresh announcement

52-week range

$5.13–$6.46

Low and high from market context

Market capitalization

$496,483,317

Equity value before the news

Historical Context

5 past events · Latest: Mar 31

5 events

1. Mar 31

   Asset sale & buyback

   24h Move

   +4.4%

   Sold two multifamily notes and used proceeds for debt paydown and buybacks.

2. Mar 16

   Large portfolio sale

   24h Move

   +3.2%

   Agreed to sell 11 multifamily properties for cash to reduce leverage.

3. Mar 11

   Retail lease signed

   24h Move

   -2.2%

   Executed 4,000-square-foot lease at Southern Post with new experiential tenant.

4. Mar 05

   Dividend declaration

   24h Move

   +0.8%

   Announced quarterly common and 6.75% Series A preferred share dividends.

5. Mar 03

   New retailer lease

   24h Move

   -1.1%

   Signed Abercrombie & Fitch lease at Town Center of Virginia Beach.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

reit, assets under management, capital markets, initial public offering, +2 more

6 terms

reit financial

"AH Realty Trust (NYSE: AHRT), formerly Armada Hoffler, is a real estate investment trust (“REIT”)"

A real estate investment trust (REIT) is a company that owns, operates, or finances income-producing real estate, like shopping centers, apartments, or office buildings. For investors, REITs offer a way to invest in real estate without having to buy property directly, often providing regular income through dividends. They function like a mutual fund for real estate, making it easier for people to add property investments to their portfolio.

assets under management financial

"growing it from inception to more than $25 billion in assets under management"

Assets under management (AUM) is the total value of all the investments that a financial company or fund is responsible for overseeing on behalf of its clients. It’s like a big bucket that shows how much money the firm is managing for people or organizations. A higher AUM often indicates a larger, more trusted company, and it can influence how much money they earn and the services they can offer.

capital markets financial

"real estate executive with extensive financial and capital markets experience"

Capital markets are places where people and organizations buy and sell long-term investments like stocks and bonds. They help connect those who need money to grow or fund projects with investors looking to earn returns over time. For investors, capital markets are important because they offer opportunities to invest, save, and grow their wealth through a variety of financial assets.

initial public offering financial

"played a key role in its initial public offering and subsequent combination"

An initial public offering (IPO) is when a private company first sells its shares to the public and becomes a stock-listed company. It matters because it allows the company to raise money from a wide range of investors, helping it grow, while giving early shareholders a way to sell some of their ownership.

board of directors technical

"serves as Chair of the board of directors of NetSTREIT Corporation"

The Board of Directors is a group of people chosen by a company's owners to help make big decisions and oversee how the company is run. They act like a team of advisors or managers, making sure the company stays on track and meets its goals. Their choices can influence the company's success and how it grows.

audit committee technical

"serves as Lead Independent Director on the board of Chiron Real Estate, Inc., where she chairs the audit committee"

A company's audit committee is a small group of board members who act like independent inspectors for the firm's finances, overseeing how financial reports are prepared, monitoring internal controls, and managing the relationship with external auditors. Investors care because a strong audit committee reduces the risk of accounting errors, fraud, or misleading statements, making financial statements more trustworthy and helping protect shareholder value.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Nominates Theodore Bigman and Lori Wittman to Stand for Election as New 
Independent Directors at 2026 Annual Meeting

Dennis Gartman and George Allen Plan to Retire from the Board

F. Blair Wimbush Appointed Chair of the Nominating and Corporate Governance Committee

VIRGINIA BEACH, Va., April 30, 2026 (GLOBE NEWSWIRE) -- AH Realty Trust (NYSE: AHRT) (“AHRT”), formerly Armada Hoffler, today announced the nomination of Theodore Bigman and Lori Wittman to stand for election to its Board of Directors at the Company’s 2026 Annual Meeting of Stockholders.

Mr. Bigman and Ms. Wittman are experienced executives with deep real estate, capital markets, and capital allocation expertise. Mr. Bigman is the former Head of Global Listed Real Assets Investing at Morgan Stanley Investment Management, bringing more than 35 years of investment leadership experience across global financial services and real estate businesses, with deep expertise in REITs and listed real assets. Ms. Wittman serves as Chief Financial Officer of Aventine Property Group and has spent more than three decades in financial leadership roles at public and private real estate companies.

“Ted and Lori are respected industry leaders with skills and expertise that are highly relevant to our business and transformation strategy, and we look forward to welcoming them to the Board,” said Shawn Tibbetts, Chairman, President and Chief Executive Officer of AH Realty Trust. “Ted and Lori each have considerable experience overseeing and advising capital allocation strategies, complex transactions, and financial operations, along with proven track records supporting disciplined growth and shareholder value creation. We look forward to benefiting from their insights as we continue to advance our strategy.”

“We are pleased to have identified two outstanding new independent directors in Ted and Lori, and are confident they will enhance the Board’s oversight of AH Realty Trust’s transformation to drive shareholder value creation,” said James Carroll, Lead Independent Director.

As part of AH Realty Trust’s ongoing board refreshment process, the Company today also announced that Dennis Gartman and George Allen will not stand for reelection to the Board at the Company’s 2026 Annual Meeting of Stockholders. Mr. Gartman has served as a director since 2022, and Mr. Allen has served since 2013, including as Chair of the Board’s Nominating and Corporate Governance Committee.

Mr. Tibbetts added, “On behalf of the Board, I thank Dennis and George for their years of dedicated service and meaningful contributions. They have played an important role in the Company’s evolution, and we wish them the best in their next chapters.”

As part of the Company’s continued governance refreshment, F. Blair Wimbush has been appointed Chair of the Board’s Nominating and Corporate Governance Committee.

“Today’s announcement reflects our commitment to ongoing board refreshment to ensure the Board’s composition is optimally aligned with AH Realty Trust’s strategic repositioning,” said Blair Wimbush, Independent Director and Chair of the Board’s Nominating and Corporate Governance Committee.

About Theodore Bigman
Theodore Bigman is an experienced investment leader with deep expertise in real estate and global financial markets, including REITs and listed real assets. Mr. Bigman spent 26 years at Morgan Stanley Investment Management, most recently as Head of Global Listed Real Assets Investing, where he built and led the firm’s Global Listed Real Assets platform, growing it from inception to more than $25 billion in assets under management. During his tenure, he advised institutional investors globally on real estate allocation strategies and engaged extensively with REIT management teams and boards to assist the companies in attaining better share price valuations. Earlier in his career, he held roles at Credit Suisse First Boston and Bain & Company. At Credit Suisse he advised on real estate transactions and strategic initiatives, including multiple U.S. REIT initial public offerings. He currently serves on the board of directors of Ventas, Inc. Mr. Bigman earned a Master of Business Administration from Harvard Business School and a Bachelor of Arts from Brandeis University.

About Lori Wittman
Lori Wittman is an accomplished real estate executive with extensive financial and capital markets experience who currently serves as Executive Vice President and Chief Financial Officer of Aventine Property Group, a privately held REIT. Previously, she was Chief Financial Officer and a member of the Board of Directors of Big Rock Acquisition Corp., where she played a key role in its initial public offering and subsequent combination with NeuroRx, Inc. to form NRx Pharmaceuticals. Prior to that, she served as Chief Financial Officer of Care Capital Properties, Inc., a public healthcare REIT that later merged with Sabra Healthcare REIT, Inc., and as Senior Vice President of Capital Markets and Investor Relations at Ventas, Inc. Ms. Wittman currently serves as Chair of the board of directors of NetSTREIT Corporation and serves as Lead Independent Director on the board of Chiron Real Estate, Inc., where she chairs the audit committee. Ms. Wittman earned a Master of Business Administration from the University of Chicago, a Master of Arts in City Planning from the University of Pennsylvania, and a Bachelor of Arts from Clark University.

About AH Realty Trust
AH Realty Trust (NYSE: AHRT), formerly known as Armada Hoffler, is a real estate investment trust (“REIT”) with over four decades of experience. The Company owns and operates high-quality retail and office assets located primarily in the Mid-Atlantic and Southeastern United States. AH Realty Trust focuses on disciplined capital allocation and long-term value creation for shareholders. For more information visit AHRealtyTrust.com.

Contact:
Chelsea Forrest
AH Realty Trust
EVP of Investor Relations and Administration
Email: chelsea.forrest@ahrealtytrust.com
Phone: (757) 366-4000

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

Who did AH Realty Trust (AHRT) nominate to its Board for the 2026 Annual Meeting?

AH Realty Trust nominated Theodore Bigman and Lori Wittman to stand for election as independent directors. According to AH Realty Trust, both nominees have extensive real estate and capital markets experience and will be presented at the 2026 Annual Meeting.

Which AH Realty Trust directors are retiring ahead of the 2026 Annual Meeting?

Dennis Gartman and George Allen will not stand for reelection to the Board at the 2026 Annual Meeting. According to AH Realty Trust, Gartman served since 2022 and Allen served since 2013, including committee leadership roles.

What governance change did AH Realty Trust announce on April 30, 2026 for AHRT?

AH Realty Trust appointed F. Blair Wimbush as Chair of the Nominating and Corporate Governance Committee. According to AH Realty Trust, this is part of an ongoing board refreshment to align governance with its strategic repositioning.

What qualifications do AHRT's nominees Theodore Bigman and Lori Wittman have?

Theodore Bigman led Global Listed Real Assets at Morgan Stanley IM and grew a platform to over $25 billion AUM; Lori Wittman is CFO of Aventine Property Group with decades in REIT finance. According to AH Realty Trust, both have capital allocation and transaction experience.

How might AHRT's board changes affect shareholders of AH Realty Trust (AHRT)?

The company frames the nominations as enhancing Board oversight of its strategic transformation and shareholder value focus. According to AH Realty Trust, the new independent directors will contribute expertise in capital allocation and complex transactions to support that strategy.