Armada Hoffler Properties (NYSE:AHH) Issues Quarterly Earnings Results

Armada Hoffler Properties (NYSE:AHH) posted its earnings results on Wednesday. The real estate investment trust reported $0.34 EPS for the quarter, topping the consensus estimate of $0.31 by $0.03, Briefing.com reports. The company had revenue of $63.27 million during the quarter, compared to the consensus estimate of $62.09 million. Armada Hoffler Properties had a net margin of 2.76% and a return on equity of 2.96%. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.32 earnings per share. Armada Hoffler Properties updated its FY24 guidance to $1.21 to $1.27 EPS and its FY 2024 guidance to 1.210-1.270 EPS.

Armada Hoffler Properties Stock Performance

NYSE:AHH traded down $0.07 during trading hours on Thursday, hitting $11.42. 321,662 shares of the company traded hands, compared to its average volume of 428,506. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 126.83 and a beta of 1.03. Armada Hoffler Properties has a twelve month low of $9.81 and a twelve month high of $13.11. The firm has a 50-day moving average of $11.32 and a 200 day moving average of $11.10. The company has a current ratio of 9.54, a quick ratio of 9.54 and a debt-to-equity ratio of 2.41.

Armada Hoffler Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Wednesday, June 26th were paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 7.18%. The ex-dividend date was Wednesday, June 26th. Armada Hoffler Properties’s payout ratio is 911.11%.

Insider Activity at Armada Hoffler Properties

In related news, insider Eric E. Apperson sold 40,000 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $11.59, for a total transaction of $463,600.00. Following the completion of the transaction, the insider now directly owns 53,867 shares in the company, valued at approximately $624,318.53. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Eric E. Apperson sold 40,000 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $11.59, for a total transaction of $463,600.00. Following the completion of the transaction, the insider now directly owns 53,867 shares in the company, valued at approximately $624,318.53. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Dennis H. Gartman bought 4,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The shares were bought at an average price of $11.09 per share, with a total value of $49,905.00. Following the completion of the purchase, the director now owns 21,486 shares in the company, valued at $238,279.74. The disclosure for this purchase can be found here. Corporate insiders own 11.90% of the company’s stock.

Wall Street Analysts Forecast Growth

AHH has been the subject of a number of analyst reports. Stifel Nicolaus initiated coverage on shares of Armada Hoffler Properties in a research note on Monday, July 15th. They issued a “buy” rating and a $12.75 price objective for the company. Jefferies Financial Group cut shares of Armada Hoffler Properties from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $13.00 to $11.00 in a research note on Monday, July 15th. Finally, StockNews.com upgraded shares of Armada Hoffler Properties from a “sell” rating to a “hold” rating in a research note on Thursday, May 23rd.

Armada Hoffler Properties Company Profile

Armada Hoffler (NYSE: AHH) is a vertically-integrated, self-managed real estate investment trust with over four decades of experience developing, building, acquiring, and managing high-quality retail, office, and multifamily properties located primarily in the Mid-Atlantic and Southeastern United States.