Armada Hoffler Properties (NYSE:AHH) Issues FY24 Earnings Guidance

Armada Hoffler Properties (NYSE:AHH) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share guidance of $1.25-1.27 for the period, compared to the consensus earnings per share estimate of $1.24. Armada Hoffler Properties also updated its FY 2024 guidance to 1.250-1.270 EPS.

Wall Street Analysts Forecast Growth

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

Armada Hoffler Properties Trading Down 0.2 %

Shares of NYSE:AHH traded down $0.02 during trading on Wednesday, reaching $11.05. 233,134 shares of the company traded hands, compared to its average volume of 473,716. The firm has a market capitalization of $989.42 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 company has a current ratio of 7.49, a quick ratio of 7.49 and a debt-to-equity ratio of 2.44. The business’s fifty day moving average is $11.40 and its 200-day moving average is $11.34.

Armada Hoffler Properties (NYSE:AHH) last announced its quarterly earnings results on Monday, November 4th. The real estate investment trust reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.42). 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%. Armada Hoffler Properties’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.31 EPS. As a group, analysts forecast that Armada Hoffler Properties will post 1.25 EPS for the current year.

Armada Hoffler Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Wednesday, September 25th were issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 7.42%. The ex-dividend date was Wednesday, September 25th. Armada Hoffler Properties’s payout ratio is currently -2,049.49%.

Insider Activity

In related news, Director Daniel A. Hoffler acquired 95,238 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were bought 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 in the company, valued at approximately $2,799,793.50. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Armada Hoffler Properties news, Director Dennis H. Gartman acquired 4,500 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were purchased 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 of the company’s stock, valued at approximately $294,566.65. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Daniel A. Hoffler bought 95,238 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The shares were acquired at an average price of $10.50 per share, with a total value 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 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.