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

Armada Hoffler Properties (NYSE:AHHGet Free Report) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.21 to $1.27 for the period, compared to the consensus earnings per share estimate of $1.27. Armada Hoffler Properties also updated its FY 2024 guidance to 1.210-1.270 EPS.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. StockNews.com cut Armada Hoffler Properties from a hold rating to a sell rating in a research report on Thursday, November 16th. TheStreet cut Armada Hoffler Properties from a c rating to a d+ rating in a research report on Wednesday, November 15th.

View Our Latest Stock Report on AHH

Armada Hoffler Properties Stock Performance

Shares of Armada Hoffler Properties stock traded down $0.19 during trading on Friday, hitting $10.63. 464,144 shares of the company’s stock traded hands, compared to its average volume of 378,365. The company has a debt-to-equity ratio of 1.85, a current ratio of 9.55 and a quick ratio of 7.90. Armada Hoffler Properties has a 1 year low of $9.81 and a 1 year high of $13.11. The stock has a market capitalization of $945.54 million, a P/E ratio of -212.56 and a beta of 1.03. The business has a 50-day simple moving average of $12.10 and a 200-day simple moving average of $11.35.

Armada Hoffler Properties (NYSE:AHHGet Free Report) last posted its earnings results on Thursday, February 22nd. The real estate investment trust reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.59). Armada Hoffler Properties had a net margin of 1.12% and a return on equity of 1.03%. The firm had revenue of $186.75 million during the quarter, compared to the consensus estimate of $63.93 million. During the same period in the prior year, the company posted $0.35 EPS. The firm’s revenue was up 23.1% compared to the same quarter last year. As a group, analysts forecast that Armada Hoffler Properties will post 1.24 EPS for the current year.

Armada Hoffler Properties Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 4th. Shareholders of record on Wednesday, March 27th will be issued a $0.205 dividend. This is an increase from Armada Hoffler Properties’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Tuesday, March 26th. This represents a $0.82 dividend on an annualized basis and a yield of 7.71%. Armada Hoffler Properties’s dividend payout ratio is currently -1,559.69%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. BlackRock Inc. grew its holdings in Armada Hoffler Properties by 14.3% during the 1st quarter. BlackRock Inc. now owns 12,943,240 shares of the real estate investment trust’s stock valued at $188,971,000 after buying an additional 1,622,030 shares in the last quarter. State Street Corp grew its holdings in shares of Armada Hoffler Properties by 20.5% in the first quarter. State Street Corp now owns 3,603,008 shares of the real estate investment trust’s stock worth $53,187,000 after purchasing an additional 614,171 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Armada Hoffler Properties by 70.7% in the first quarter. Invesco Ltd. now owns 1,351,202 shares of the real estate investment trust’s stock worth $19,728,000 after purchasing an additional 559,473 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Armada Hoffler Properties by 5.7% in the first quarter. Vanguard Group Inc. now owns 7,604,936 shares of the real estate investment trust’s stock worth $111,032,000 after purchasing an additional 408,615 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Armada Hoffler Properties by 57.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 859,983 shares of the real estate investment trust’s stock worth $12,557,000 after purchasing an additional 312,628 shares during the last quarter. Institutional investors own 67.17% of the company’s stock.

About Armada Hoffler Properties

(Get Free Report)

Armada Hoffler (NYSE: AHH) is a vertically-integrated, self-managed real estate investment trust 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.

Read More

Receive News & Ratings for Armada Hoffler Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Armada Hoffler Properties and related companies with MarketBeat.com's FREE daily email newsletter.