Armada Hoffler Properties (NYSE:AHH) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Armada Hoffler Properties (NYSE:AHH) issued its earnings results on Wednesday. The real estate investment trust reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.03, Briefing.com reports. The business had revenue of $63.27 million for the quarter, compared to analyst estimates of $62.09 million. Armada Hoffler Properties had a net margin of 2.76% and a return on equity of 2.96%. The firm’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.32 EPS. Armada Hoffler Properties updated its FY24 guidance to $1.21 to $1.27 EPS and its FY 2024 guidance to 1.210-1.270 EPS.

Armada Hoffler Properties Stock Performance

Shares of AHH traded down $0.01 during trading hours on Friday, hitting $11.42. The company had a trading volume of 343,721 shares, compared to its average volume of 427,952. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 126.83 and a beta of 1.03. The business has a fifty day moving average of $11.33 and a 200-day moving average of $11.09. Armada Hoffler Properties has a 12 month low of $9.81 and a 12 month high of $13.11. The company has a quick ratio of 9.54, a current ratio of 9.54 and a debt-to-equity ratio of 2.41.

Armada Hoffler Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Wednesday, June 26th were given a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 7.18%. The ex-dividend date of this dividend was Wednesday, June 26th. Armada Hoffler Properties’s payout ratio is presently 911.11%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Jefferies Financial Group downgraded shares of Armada Hoffler Properties from a “buy” rating to a “hold” rating and dropped their target price for the stock from $13.00 to $11.00 in a research note on Monday, July 15th. Stifel Nicolaus assumed coverage on shares of Armada Hoffler Properties in a report on Monday, July 15th. They issued a “buy” rating and a $12.75 price target for the company. Finally, StockNews.com upgraded shares of Armada Hoffler Properties from a “sell” rating to a “hold” rating in a report on Thursday, May 23rd.

Insider Buying and Selling

In other Armada Hoffler Properties news, Director Dennis H. Gartman purchased 4,500 shares of the stock in a transaction that occurred on Wednesday, July 10th. The shares were acquired at an average cost of $11.09 per share, with a total value of $49,905.00. Following the completion of the transaction, the director now owns 21,486 shares in the company, valued at $238,279.74. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Armada Hoffler Properties news, Director Dennis H. Gartman purchased 4,500 shares of the stock in a transaction that occurred on Wednesday, July 10th. The shares were acquired at an average cost of $11.09 per share, with a total value of $49,905.00. Following the completion of the transaction, the director now owns 21,486 shares in the company, valued at $238,279.74. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Eric E. Apperson sold 40,000 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $11.59, for a total transaction of $463,600.00. Following the sale, the insider now owns 53,867 shares in the company, valued at $624,318.53. The disclosure for this sale can be found here. 11.90% of the stock is owned by insiders.

About Armada Hoffler Properties

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.