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

Armada Hoffler Properties (NYSE:AHH) posted its quarterly earnings results on Wednesday. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.03, Briefing.com reports. The business had revenue of $63.27 million during the quarter, compared to analyst estimates 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 was up 5.5% on a year-over-year basis. During the same period in the prior year, the business 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 Trading Down 0.0 %

Shares of AHH stock traded down $0.01 during trading hours on Friday, reaching $11.42. The company’s stock had a trading volume of 343,721 shares, compared to its average volume of 427,952. The stock has a market capitalization of $1.01 billion, a P/E ratio of 126.83 and a beta of 1.03. Armada Hoffler Properties has a one year low of $9.81 and a one year high of $13.11. The firm’s fifty day simple moving average is $11.33 and its 200 day simple moving average is $11.09. 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Wednesday, June 26th were given a $0.205 dividend. The ex-dividend date was Wednesday, June 26th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 7.18%. Armada Hoffler Properties’s dividend payout ratio is currently 911.11%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. StockNews.com upgraded Armada Hoffler Properties from a “sell” rating to a “hold” rating in a report on Thursday, May 23rd. Stifel Nicolaus began coverage on Armada Hoffler Properties in a research note on Monday, July 15th. They set a “buy” rating and a $12.75 price objective for the company. Finally, Jefferies Financial Group downgraded shares of Armada Hoffler Properties from a “buy” rating to a “hold” rating and decreased their target price for the stock from $13.00 to $11.00 in a research note on Monday, July 15th.

Insider Activity at Armada Hoffler Properties

In related news, insider Eric E. Apperson sold 40,000 shares of Armada Hoffler Properties stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $11.59, for a total transaction of $463,600.00. Following the sale, the insider now directly owns 53,867 shares in the company, valued at $624,318.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Armada Hoffler Properties news, insider Eric E. Apperson sold 40,000 shares of Armada Hoffler Properties stock in a transaction on Thursday, May 16th. The stock was 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 owns 53,867 shares in the company, valued at $624,318.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dennis H. Gartman acquired 4,500 shares of the stock in a transaction 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 purchase, the director now directly owns 21,486 shares of the company’s stock, valued at approximately $238,279.74. The disclosure for this purchase can be found here. 11.90% of the stock is currently owned by corporate insiders.

About Armada Hoffler Properties

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.