Armada Hoffler Properties (NYSE:AHH) Releases FY 2024 Earnings Guidance

Armada Hoffler Properties (NYSE:AHH) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 1.210-1.270 for the period, compared to the consensus estimate of 1.260. The company issued revenue guidance of -. Armada Hoffler Properties also updated its FY24 guidance to $1.21 to $1.27 EPS.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AHH. Jefferies Financial Group cut Armada Hoffler Properties from a buy rating to a hold rating and lowered their price target for the stock from $13.00 to $11.00 in a report on Monday, July 15th. StockNews.com upgraded Armada Hoffler Properties from a sell rating to a hold rating in a research report on Thursday, May 23rd. Finally, Stifel Nicolaus began coverage on Armada Hoffler Properties in a research report on Monday, July 15th. They set a buy rating and a $12.75 price objective on the stock.

Armada Hoffler Properties Price Performance

AHH stock traded up $0.03 during midday trading on Wednesday, reaching $11.49. 339,317 shares of the stock were exchanged, compared to its average volume of 429,213. The company has a fifty day moving average price of $11.32 and a 200 day moving average price of $11.09. Armada Hoffler Properties has a 52 week low of $9.81 and a 52 week high of $13.11. The stock has a market capitalization of $1.02 billion, a PE ratio of 127.67 and a beta of 1.03. The company has a debt-to-equity ratio of 2.41, a current ratio of 9.54 and a quick ratio of 9.54.

Armada Hoffler Properties (NYSE:AHH) last announced its earnings results on Thursday, May 9th. The real estate investment trust reported $0.17 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.14). Armada Hoffler Properties had a net margin of 2.76% and a return on equity of 2.96%. The business had revenue of $61.88 million for the quarter, compared to the consensus estimate of $61.55 million. As a group, analysts expect that Armada Hoffler Properties will post 1.25 EPS for the current fiscal year.

Armada Hoffler Properties Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Wednesday, June 26th were paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 7.14%. The ex-dividend date of this dividend was Wednesday, June 26th. Armada Hoffler Properties’s dividend payout ratio (DPR) is currently 911.11%.

Insider Buying and Selling

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

Armada Hoffler Properties Company Profile

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.