Armada Hoffler Properties (NYSE:AHH) Updates 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 (EPS) guidance of $1.25-1.27 for the period, compared to the consensus estimate of $1.24. Armada Hoffler Properties also updated its FY 2024 guidance to 1.250-1.270 EPS.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Jefferies Financial Group cut shares of Armada Hoffler Properties from a “buy” rating to a “hold” rating and cut their price objective for the stock from $13.00 to $11.00 in a research report on Monday, July 15th. StockNews.com cut Armada Hoffler Properties from a “hold” rating to a “sell” rating in a research report on Tuesday, October 22nd. Finally, Stifel Nicolaus reduced their target price on Armada Hoffler Properties from $12.75 to $12.50 and set a “buy” rating for the company in a report on Friday, September 27th.

Armada Hoffler Properties Trading Up 0.6 %

Armada Hoffler Properties stock traded up $0.07 during midday trading on Tuesday, reaching $10.98. The stock had a trading volume of 52,742 shares, compared to its average volume of 472,321. The company has a debt-to-equity ratio of 2.44, a quick ratio of 7.49 and a current ratio of 7.49. Armada Hoffler Properties has a twelve month low of $10.02 and a twelve month high of $13.11. The stock has a market capitalization of $983.15 million, a PE ratio of -272.68 and a beta of 1.03. The stock’s 50-day simple moving average is $11.45 and its 200 day simple moving average is $11.33.

Armada Hoffler Properties (NYSE:AHH) last announced its quarterly earnings data on Monday, November 4th. The real estate investment trust reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.42). Armada Hoffler Properties had a net margin of 1.10% and a return on equity of 1.26%. The firm had revenue of $68.60 million during the quarter, compared to the consensus estimate of $65.01 million. During the same period in the prior year, the firm earned $0.31 earnings per share. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. Analysts expect that Armada Hoffler Properties will post 1.25 EPS for the current year.

Armada Hoffler Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Wednesday, September 25th were issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 7.47%. The ex-dividend date of this dividend was Wednesday, September 25th. Armada Hoffler Properties’s dividend payout ratio is currently -2,049.49%.

Insider Activity at Armada Hoffler Properties

In other news, Director Daniel A. Hoffler bought 95,238 shares of the company’s stock in a transaction that occurred on 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 acquisition, the director now directly owns 266,647 shares of the company’s stock, valued at $2,799,793.50. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Daniel A. Hoffler bought 95,238 shares of Armada Hoffler Properties stock in a transaction dated 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 purchase, the director now owns 266,647 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is available through this link. Also, Director Dennis H. Gartman acquired 4,500 shares of Armada Hoffler Properties stock in a transaction on Wednesday, October 2nd. The stock was acquired at an average cost of $10.85 per share, for a total transaction of $48,825.00. Following the purchase, the director now owns 27,149 shares of the company’s stock, valued at approximately $294,566.65. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 11.90% of the stock is currently owned by company insiders.

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.