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

Armada Hoffler Properties (NYSE:AHH) released its quarterly earnings data 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. The business had revenue of $68.60 million during the quarter, compared to the consensus estimate of $65.01 million. Armada Hoffler Properties had a return on equity of 1.26% and a net margin of 1.10%. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period last year, the business posted $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 Up 1.5 %

Shares of NYSE:AHH opened at $11.07 on Wednesday. The firm has a fifty day moving average price of $11.40 and a two-hundred day moving average price of $11.34. The company has a debt-to-equity ratio of 2.44, a current ratio of 7.49 and a quick ratio of 7.49. Armada Hoffler Properties has a one year low of $10.02 and a one year high of $13.11. The company 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 Dividend Announcement

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

Analyst Ratings Changes

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

Insider Buying and Selling at Armada Hoffler Properties

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

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.