Armada Hoffler Properties (NYSE:AHH) Announces Earnings Results

Armada Hoffler Properties (NYSE:AHH) released its earnings results on Monday. The real estate investment trust reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.31 by ($0.42), Zacks reports. Armada Hoffler Properties had a net margin of 1.10% and a return on equity of 1.26%. The firm had revenue of $68.60 million during the quarter, compared to analyst estimates of $65.01 million. During the same period last year, the business posted $0.31 earnings per share. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. Armada Hoffler Properties updated its FY24 guidance to $1.25-1.27 EPS and its FY 2024 guidance to 1.250-1.270 EPS.

Armada Hoffler Properties Stock Performance

AHH stock opened at $11.07 on Wednesday. Armada Hoffler Properties has a 1-year low of $10.02 and a 1-year high of $13.11. The company has a current ratio of 7.49, a quick ratio of 7.49 and a debt-to-equity ratio of 2.44. The firm has a market cap of $991.21 million, a PE ratio of -276.68 and a beta of 1.03. The business’s 50-day moving average price is $11.40 and its two-hundred day moving average price is $11.34.

Armada Hoffler Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Wednesday, September 25th were given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 7.41%. The ex-dividend date was Wednesday, September 25th. Armada Hoffler Properties’s dividend payout ratio is currently -2,049.49%.

Insiders Place Their Bets

In related news, Director Daniel A. Hoffler purchased 95,238 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were purchased at an average price of $10.50 per share, with a total value of $999,999.00. Following the completion of the purchase, the director now owns 266,647 shares in the company, valued at $2,799,793.50. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Dennis H. Gartman bought 4,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were acquired at an average price of $10.85 per share, with a total value of $48,825.00. Following the transaction, the director now owns 27,149 shares in the company, valued at $294,566.65. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel A. Hoffler purchased 95,238 shares of Armada Hoffler Properties stock in a transaction on Thursday, September 26th. The shares were purchased at an average cost of $10.50 per share, with a total value of $999,999.00. Following the transaction, the director now owns 266,647 shares in the company, valued at approximately $2,799,793.50. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 11.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on AHH. Jefferies Financial Group lowered shares of Armada Hoffler Properties from a “buy” rating to a “hold” rating and lowered their target price for the stock from $13.00 to $11.00 in a report on Monday, July 15th. Stifel Nicolaus raised their price target on Armada Hoffler Properties from $12.50 to $12.75 and gave the stock a “buy” rating in a research report on Tuesday. Finally, StockNews.com downgraded Armada Hoffler Properties from a “hold” rating to a “sell” rating in a report on Tuesday, October 22nd.

About Armada Hoffler Properties

Armada Hoffler Properties, Inc (the “Company”) is a vertically integrated, self-managed real estate investment trust (“REIT”) 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.