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

Armada Hoffler Properties (NYSE:AHH - Get Free Report) released its earnings results on Monday. The real estate investment trust reported ($0.11) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.31 by ($0.42), Zacks reports. The firm had revenue of $68.60 million for the quarter, compared to analyst estimates of $65.01 million. Armada Hoffler Properties had a return on equity of 1.26% and a net margin of 1.10%. Armada Hoffler Properties's revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.31 earnings per share. 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 Trading Up 1.5 %

NYSE:AHH traded up $0.16 during mid-day trading on Tuesday, hitting $11.07. The company had a trading volume of 595,875 shares, compared to its average volume of 474,901. Armada Hoffler Properties has a fifty-two week low of $10.02 and a fifty-two week high of $13.11. The business's fifty day moving average is $11.43 and its two-hundred day moving average is $11.34. The company has a debt-to-equity ratio of 2.44, a quick ratio of 7.49 and a current ratio of 7.49. The firm has a market cap of $991.21 million, a P/E ratio of -276.68 and a beta of 1.03.

Armada Hoffler Properties Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Wednesday, September 25th were paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 7.41%. The ex-dividend date was Wednesday, September 25th. Armada Hoffler Properties's dividend payout ratio (DPR) is presently -2,049.49%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Stifel Nicolaus lifted their target price on 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 dropped their price target for the stock 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 research report on Tuesday, October 22nd.

Insider Buying and Selling at Armada Hoffler Properties

In other news, Director Dennis H. Gartman acquired 4,500 shares of the firm's stock in a transaction that occurred on Wednesday, October 2nd. The stock was acquired at an average cost of $10.85 per share, for a total transaction of $48,825.00. Following the completion of the acquisition, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Armada Hoffler Properties news, Director Dennis H. Gartman acquired 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 completion of the transaction, the director now directly owns 27,149 shares in the company, valued at approximately $294,566.65. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through 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 acquired at an average cost of $10.50 per share, with a total value of $999,999.00. Following the completion of the transaction, the director now owns 266,647 shares of the company's stock, valued at approximately $2,799,793.50. The trade was 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.

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.