Armada Hoffler Pptys Inc Stock Price, News & Analysis

Armada Hoffler Properties, Inc. (NYSE: AHH) announced the income tax treatment of its 2021 dividend distributions for common and preferred stockholders. The final income allocations will be reported on Form 1099-DIV. Notably, 66.71% of common stock dividends are classified as ordinary income, while 8.98% are capital gains. Preferred stockholders will experience 88.04% ordinary income and 11.96% capital gains. Shareholders are advised to consult their tax advisors for specific tax treatment. This information follows provisions from the 2017 Tax Cuts and Jobs Act.

Armada Hoffler Properties (NYSE: AHH) reported a net income of less than $0.01 per diluted share for Q4 2021, down from $0.02 per diluted share a year prior. The full-year net income was $0.17 per diluted share, a drop from $0.38 in 2020. The company achieved a Normalized FFO of $0.27 per diluted share for Q4 and $1.07 for the full year. Occupancy rates increased across retail (96.0%), office (96.8%), and multifamily (97.4%). The 2022 guidance for Normalized FFO is set between $1.11 and $1.15 per diluted share. A significant property sale and a new acquisition were also highlighted.

Armada Hoffler Properties (NYSE: AHH) has announced a new range of retail tenants at its flagship Town Center of Virginia Beach, enhancing its leasing portfolio. The new additions include Legal Sea Foods, Bath & Body Works, Nando’s Chicken, Madewell, and Cinnaholic Bakery, increasing the center's retail space occupancy to 97%. The company highlights its focus on mixed-use developments that have demonstrated resilience through economic downturns, attracting brands previously absent from the region, thus contributing to the area's business evolution.

Armada Hoffler Properties (NYSE: AHH) successfully completed a $246 million acquisition of a 79% interest and an additional 11% economic interest in the Exelon building in Baltimore's Harbor Point neighborhood. The property includes a 23-story Class A office, 103 multifamily units, and retail space, with Exelon occupying the office space on a long-term lease. This acquisition aligns with the company's strategic goals and enhances its existing portfolio in the area. CEO Louis Haddad described the transaction as immediately accretive and vital for future growth.

Armada Hoffler Properties (NYSE: AHH) will report its earnings for the fourth quarter and full year ended December 31, 2021, on February 10, 2022, at 6:00 a.m. Eastern. A conference call will follow at 8:30 a.m. Eastern, which can be accessed by calling 877-407-3982 (domestic) or 201-493-6780 (international). The call will be available on the company’s website, with a replay accessible until March 10, 2022. Armada Hoffler is a self-managed real estate investment trust, focused on the development and management of high-quality properties in the Mid-Atlantic and Southeastern U.S.

Armada Hoffler Properties, Inc. (NYSE: AHH) has announced a public offering of 3,500,000 shares, aiming for gross proceeds of approximately $51.6 million. The offering is set to close on January 11, 2022, with a 30-day option for underwriters to purchase an additional 525,000 shares. The net proceeds will fund the acquisition of a 79% interest and an additional 11% economic interest in the Exelon Building, a significant mixed-use property in Baltimore. This acquisition is expected to enhance funds from operations per share upon closing.

Armada Hoffler Properties, Inc. (NYSE: AHH) has launched a public offering of 3.5 million shares of its common stock, with an additional 525,000 shares available via an underwriter's option. Proceeds are earmarked for acquiring a 79% interest and an additional 11% economic interest in the Exelon Building in Baltimore, alongside repaying debts and general corporate use. The acquisition is projected to be accretive to funds from operations per share upon closing in Q1 2022. BofA Securities acts as the sole book-running manager for the offering.

Armada Hoffler Properties (NYSE: AHH) has agreed to acquire a 79% interest and an additional 11% economic interest in the Exelon building in Baltimore for $246 million. The office space is fully leased to Exelon for 15 years, with a 3% annual escalation. This acquisition is expected to yield a 7.4% year 1 return and offers potential for NOI growth through operational synergies. The company aims to strengthen its position in the Harbor Point area, redeploying capital from previous asset sales.

Armada Hoffler Properties, a real estate investment trust, has successfully closed the $75 million sale of its student housing property, Nine East 33rd in Baltimore, Maryland. This move is part of a strategic initiative to exit the student housing sector, allowing the company to capitalize on favorable market conditions. The proceeds from the sale will be utilized to fund further development and acquisition opportunities, focusing on mixed-use assets and conventional multifamily properties.