Comstock Holding Companies, Inc. Files 2023 Annual Report (10-K)

Ticker: CHCI · Form: 10-K · Filed: Mar 21, 2024 · CIK: 1299969

Comstock Holding Companies, Inc. 10-K Filing Summary
FieldDetail
CompanyComstock Holding Companies, Inc. (CHCI)
Form Type10-K
Filed DateMar 21, 2024
Risk Levelmedium
Pages13
Reading Time16 min
Key Dollar Amounts$0.01, $87 million, $1.5 million
Sentimentneutral

Sentiment: neutral

Topics: 10-K, Comstock Holding Companies, Real Estate, Annual Report, Financial Filing

TL;DR

<b>Comstock Holding Companies, Inc. has filed its annual 10-K report for the fiscal year ended December 31, 2023, detailing its financial performance and business operations.</b>

AI Summary

Comstock Holding Companies, Inc. (CHCI) filed a Annual Report (10-K) with the SEC on March 21, 2024. Comstock Holding Companies, Inc. filed its 10-K report for the fiscal year ending December 31, 2023. The company's principal business address is 1900 Reston Metro Plaza, 10th Floor, Reston, VA 20190. The filing covers the fiscal year from January 1, 2023, to December 31, 2023. Comstock Holding Companies, Inc. was formerly known as Comstock Homebuilding Companies, Inc., with a name change effective August 6, 2004. The company is classified under the Real Estate sector (SIC code 6500).

Why It Matters

For investors and stakeholders tracking Comstock Holding Companies, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Comstock's financial health, operational activities, and strategic direction for the past fiscal year, which is crucial for investors to assess the company's current standing and future prospects. As a real estate company, understanding the specifics of their assets, liabilities, revenue streams, and any disclosed risks in this filing is vital for stakeholders evaluating investment opportunities and potential challenges within the real estate market.

Risk Assessment

Risk Level: medium — Comstock Holding Companies, Inc. shows moderate risk based on this filing. The filing is a standard 10-K, which typically contains a broad range of information, including financial statements and risk factors, but lacks specific financial performance metrics in the provided header data, necessitating a deeper review of the full document for a precise risk assessment.

Analyst Insight

Review the full 10-K filing for detailed financial statements, revenue breakdowns, and specific risk factors to make an informed investment decision.

Key Numbers

  • 20231231 — Fiscal Year End (Conformed period of report)
  • 20240321 — Filing Date (Filed as of date)
  • 2023-01-01 — Fiscal Year Start (Period of report start date)
  • 2022-12-31 — Prior Year End (Comparison period)
  • 2021-12-31 — Prior Prior Year End (Comparison period)

Key Players & Entities

  • Comstock Holding Companies, Inc. (company) — Filer name
  • Comstock Homebuilding Companies, Inc. (company) — Former company name
  • 1900 Reston Metro Plaza, 10th Floor (address) — Business and mailing address
  • Reston, VA (location) — Business and mailing address city and state
  • 20190 (postal_code) — Business and mailing address zip code
  • 703-230-1985 (phone_number) — Business phone number

FAQ

When did Comstock Holding Companies, Inc. file this 10-K?

Comstock Holding Companies, Inc. filed this Annual Report (10-K) with the SEC on March 21, 2024.

What is a 10-K filing?

A 10-K is a comprehensive annual financial report required by the SEC, covering audited financials, business operations, risk factors, and management discussion. This particular 10-K was filed by Comstock Holding Companies, Inc. (CHCI).

Where can I read the original 10-K filing from Comstock Holding Companies, Inc.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Comstock Holding Companies, Inc..

What are the key takeaways from Comstock Holding Companies, Inc.'s 10-K?

Comstock Holding Companies, Inc. filed this 10-K on March 21, 2024. Key takeaways: Comstock Holding Companies, Inc. filed its 10-K report for the fiscal year ending December 31, 2023.. The company's principal business address is 1900 Reston Metro Plaza, 10th Floor, Reston, VA 20190.. The filing covers the fiscal year from January 1, 2023, to December 31, 2023..

Is Comstock Holding Companies, Inc. a risky investment based on this filing?

Based on this 10-K, Comstock Holding Companies, Inc. presents a moderate-risk profile. The filing is a standard 10-K, which typically contains a broad range of information, including financial statements and risk factors, but lacks specific financial performance metrics in the provided header data, necessitating a deeper review of the full document for a precise risk assessment.

What should investors do after reading Comstock Holding Companies, Inc.'s 10-K?

Review the full 10-K filing for detailed financial statements, revenue breakdowns, and specific risk factors to make an informed investment decision. The overall sentiment from this filing is neutral.

Key Dates

  • 2024-03-21: 10-K Filing — Annual report submission date for fiscal year 2023.
  • 2023-12-31: Fiscal Year End — End date of the reporting period.
  • 2004-08-06: Name Change — Date of name change from Comstock Homebuilding Companies, Inc.

Glossary

10-K
An annual report required by the U.S. Securities and Exchange Commission (SEC), which gives a comprehensive summary of a company's financial performance. (This filing provides the official annual financial and business overview for Comstock Holding Companies, Inc.)
SIC Code
Standard Industrial Classification code used to classify businesses by industry. (Indicates Comstock Holding Companies, Inc. operates within the Real Estate sector (6500).)

Filing Stats: 4,031 words · 16 min read · ~13 pages · Grade level 14.7 · Accepted 2024-03-21 16:21:52

Key Financial Figures

  • $0.01 — which registered Class A Common Stock, $0.01 par value CHCI Nasdaq Capital Market
  • $87 million — hip stake in The Hartford and secured a $87 million loan facility from MetLife. As part of
  • $1.5 million — ) through a wholly owned subsidiary for $1.5 million. This investment property sits adjacent

Filing Documents

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations .......................... 11 Item 7A. Quantitative and Qualitative Disclosures About Market Risk ......................................................................... 18 Item 8. Financial Statements and Supplementary Data ............................................................................................... 19

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure ......................... 18 Item 9A. Controls and Procedures .................................................................................................................................. 18 Item 9B. Other Information ............................................................................................................................................ 18 PART III .................................................................................................................................................................................. 19 PART IV .................................................................................................................................................................................. Item 15. Exhibit and Financial Statement Schedules ................................................................................................... 20 Item 16. 10-K Summary ................................................................................................................................................. SIGNATURES ........................................................................................................................................................................ 23 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS Certain matters disclosed in this Annual Report on Form 10-K may include forward-looking statements. These statements can be identified by the fact that they do not relate strictly to historical or current facts. They use words such as "aim," "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "project," "should," "will be," "will continue," "will likely result," "would," and other words and terms of similar meaning in conjunction with a discussion of future operations or financial performance. These forward-looking statements are based on curren

Business

Item 1. Business As used herein, "Comstock", "CHCI", "the Company," "we," "us," "our," and similar terms are referring to Comstock Holding Companies, Inc. and its subsidiaries, unless the context indicates otherwise. Overview Comstock is a leading asset manager, developer, and operator of mixed-use and transit-oriented properties in the Washington, D.C. region. We have become the area's premier real estate service company by creating extraordinary places, delivering exceptional experiences, and generating excellent results for all stakeholders. Since 1985, we have acquired, developed, operated, and sold millions of square feet of residential, commercial, and mixed-use properties. Our industry expertise and commitment to excellence enable us to consistently deliver best-in-class services across the diverse assets in our managed portfolio. We specialize in supporting the seamless integration of residential, commercial, and retail offerings into vibrant mixed-use communities, exemplified by Reston Station and Loudoun Station, two assets in our Anchor Portfolio that are among the region's largest and most prominent mixed-use, transit-oriented developments. We maintain a market-leading position in Northern Virginia's Dulles Corridor, which is undergoing an urban transformation as a result of the creation and expansion of Metro's Silver Line, which connects Loudoun County and Dulles International Airport to Reston, Tysons, Washington, D.C., and suburban Maryland. We provide a broad suite of asset management, property management, development and construction management, and other real estate-related services to our asset-owning clients, composed primarily of institutional real estate investors, high net worth family offices, financial institutions, and governmental bodies seeking to enhance their surrounding communities by developing real estate they own through public-private partnerships. We employ a talented staff of real estate professionals that are led by our s

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