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

Armada Hoffler Properties (NYSE:AHH) announced its earnings results on Monday. The real estate investment trust reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.42), Zacks reports. 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 for the quarter, compared to the consensus estimate of $65.01 million. During the same period in the prior year, the business earned $0.31 EPS. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. 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 %

NYSE:AHH traded up $0.17 on Wednesday, hitting $11.24. 816,429 shares of the company’s stock traded hands, compared to its average volume of 476,493. The firm has a 50-day moving average price of $11.40 and a 200-day moving average price of $11.34. 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 company has a market cap of $1.01 billion, a PE ratio of -276.68 and a beta of 1.03. Armada Hoffler Properties has a 1 year low of $10.02 and a 1 year high of $13.11.

Armada Hoffler Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Wednesday, September 25th were given a dividend of $0.205 per share. The ex-dividend date of this dividend was Wednesday, September 25th. This represents a $0.82 dividend on an annualized basis and a yield of 7.30%. Armada Hoffler Properties’s payout ratio is presently -2,049.49%.

Insider Buying and Selling

In related news, Director Dennis H. Gartman acquired 4,500 shares of the company’s stock in a transaction on 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 owns 27,149 shares in the company, valued at $294,566.65. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Dennis H. Gartman purchased 4,500 shares of the business’s stock in a transaction dated 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 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 legal filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel A. Hoffler acquired 95,238 shares of the company’s 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 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 disclosure for this purchase can be found here. 11.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

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.