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

Armada Hoffler Properties (NYSE:AHH) updated its FY24 earnings guidance on Monday. 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.

Armada Hoffler Properties Stock Up 1.5 %

Shares of AHH traded up $0.16 during mid-day trading on Monday, reaching $10.91. The company’s stock had a trading volume of 596,097 shares, compared to its average volume of 474,271. The company’s 50 day moving average is $11.45 and its 200 day moving average is $11.33. The stock has a market cap of $976.85 million, a PE ratio of -271.25 and a beta of 1.03. Armada Hoffler Properties has a 12-month low of $10.02 and a 12-month high of $13.11. The company has a debt-to-equity ratio of 2.44, a current ratio of 7.49 and a quick ratio of 7.49.

Armada Hoffler Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Wednesday, September 25th were given a $0.205 dividend. The ex-dividend date was Wednesday, September 25th. This represents a $0.82 dividend on an annualized basis and a yield of 7.52%. Armada Hoffler Properties’s dividend payout ratio (DPR) is presently -2,050.00%.

Analyst Upgrades and Downgrades

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

Insider Activity

In other Armada Hoffler Properties news, Director Dennis H. Gartman acquired 4,500 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was purchased at an average price of $10.85 per share, for a total transaction of $48,825.00. Following the completion of the transaction, the director now owns 27,149 shares of the company’s stock, valued at $294,566.65. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Daniel A. Hoffler purchased 95,238 shares of the firm’s stock in a transaction dated Thursday, September 26th. The shares were acquired at an average price of $10.50 per share, with a total value of $999,999.00. Following the purchase, 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Dennis H. Gartman acquired 4,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was purchased at an average cost of $10.85 per share, with a total value of $48,825.00. Following the completion of the purchase, the director now directly 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 disclosure for this purchase can be found here. Insiders own 11.90% of the company’s stock.

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.