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

Armada Hoffler Properties (NYSE:AHH) posted its earnings results 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. Armada Hoffler Properties had a return on equity of 1.26% and a net margin of 1.10%. The business had revenue of $68.60 million during the quarter, compared to analyst estimates of $65.01 million. During the same quarter in the prior year, the company earned $0.31 EPS. The company’s 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 Trading Up 1.5 %

NYSE:AHH opened at $11.07 on Wednesday. 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 has a market cap of $991.21 million, a price-to-earnings ratio of -276.68 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 firm has a 50-day moving average price of $11.40 and a two-hundred day moving average price of $11.34.

Armada Hoffler Properties Announces Dividend

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

Analyst Ratings Changes

A number of research firms recently weighed in on AHH. Stifel Nicolaus upped their target price on shares of Armada Hoffler Properties from $12.50 to $12.75 and gave the stock a “buy” rating in a report on Tuesday. 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. Finally, StockNews.com lowered shares of Armada Hoffler Properties from a “hold” rating to a “sell” rating in a report on Tuesday, October 22nd.

Insider Buying and Selling at Armada Hoffler Properties

In related news, Director Daniel A. Hoffler purchased 95,238 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was bought at an average price of $10.50 per share, for a total transaction of $999,999.00. Following the purchase, the director now directly owns 266,647 shares in the company, valued at approximately $2,799,793.50. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Dennis H. Gartman purchased 4,500 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was bought at an average price of $10.85 per share, for a total transaction of $48,825.00. Following the purchase, the director now directly owns 27,149 shares in the company, valued at approximately $294,566.65. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel A. Hoffler purchased 95,238 shares of the firm’s stock in a transaction dated Thursday, September 26th. The shares were bought at an average price of $10.50 per share, with a total value of $999,999.00. Following the purchase, the director now owns 266,647 shares in the company, valued at $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. Company insiders own 11.90% of the company’s stock.

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.