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.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Jefferies Financial Group downgraded Armada Hoffler Properties from a “buy” rating to a “hold” rating and dropped their target price for the company 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 note on Tuesday, October 22nd. Finally, Stifel Nicolaus boosted their target price on Armada Hoffler Properties from $12.50 to $12.75 and gave the stock a “buy” rating in a research note on Tuesday.

Armada Hoffler Properties Price Performance

AHH stock traded down $0.05 on Thursday, reaching $11.20. 137,254 shares of the company’s stock were exchanged, compared to its average volume of 474,922. The stock has a fifty day moving average of $11.38 and a 200-day moving average of $11.34. Armada Hoffler Properties has a twelve month low of $10.02 and a twelve month high of $13.11. The firm has a market cap of $1.00 billion, a PE ratio of -280.93 and a beta of 1.03. The company has a quick ratio of 7.49, a current ratio of 7.49 and a debt-to-equity ratio of 2.44.

Armada Hoffler Properties (NYSE:AHH) last posted its earnings results 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). The firm had revenue of $68.60 million during the quarter, compared to analyst estimates of $65.01 million. Armada Hoffler Properties had a net margin of 1.10% and a return on equity of 1.26%. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period last year, the company posted $0.31 EPS. As a group, equities analysts predict that Armada Hoffler Properties will post 1.25 EPS for the current fiscal year.

Armada Hoffler Properties Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors 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 annualized dividend and a yield of 7.32%. Armada Hoffler Properties’s dividend payout ratio (DPR) is presently -2,049.49%.

Insider Transactions at Armada Hoffler Properties

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

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.