Armada Hoffler Properties (NYSE:AHH) Posts Quarterly Earnings Results, Misses Estimates By $0.42 EPS

Armada Hoffler Properties (NYSE:AHH) posted its quarterly earnings data on Monday. The real estate investment trust reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.42), Zacks reports. The company had revenue of $68.60 million for the quarter, compared to analysts’ expectations of $65.01 million. Armada Hoffler Properties had a net margin of 1.10% and a return on equity of 1.26%. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.31 earnings per share. 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

Shares of NYSE AHH opened at $11.24 on Thursday. The company has a market cap of $1.01 billion, a P/E ratio of -280.93 and a beta of 1.03. Armada Hoffler Properties has a 52-week low of $10.02 and a 52-week high of $13.11. The company has a debt-to-equity ratio of 2.44, a quick ratio of 7.49 and a current ratio of 7.49. The firm’s fifty day moving average is $11.38 and its two-hundred day moving average is $11.34.

Armada Hoffler Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Wednesday, September 25th were paid a dividend of $0.205 per share. The ex-dividend date was Wednesday, September 25th. This represents a $0.82 annualized dividend and a yield of 7.30%. Armada Hoffler Properties’s payout ratio is -2,049.49%.

Insider Buying and Selling at Armada Hoffler Properties

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

Analysts Set New Price Targets

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

Armada Hoffler Properties Company Profile

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.