Armada Hoffler Properties (NYSE:AHH) Issues 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 firm had revenue of $68.60 million during the quarter, compared to analysts’ expectations of $65.01 million. Armada Hoffler Properties had a return on equity of 1.26% and a net margin of 1.10%. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period last year, the company 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 Up 1.5 %

Armada Hoffler Properties stock opened at $11.24 on Thursday. The company has a quick ratio of 7.49, a current ratio of 7.49 and a debt-to-equity ratio of 2.44. The firm has a market cap of $1.01 billion, a P/E ratio of -280.93 and a beta of 1.03. The business has a fifty day moving average of $11.38 and a two-hundred day moving average of $11.34. Armada Hoffler Properties has a twelve month low of $10.02 and a twelve month high of $13.11.

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 given a $0.205 dividend. The ex-dividend date of this dividend was Wednesday, September 25th. This represents a $0.82 annualized dividend and a dividend yield of 7.30%. Armada Hoffler Properties’s payout ratio is presently -2,049.49%.

Insider Activity

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

Analyst Upgrades and Downgrades

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

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.