Armada Hoffler Pptys Inc Stock Price, News & Analysis

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.

Armada Hoffler Properties announced a net income of $0.06 per diluted share and a normalized FFO of $0.26 per diluted share for Q3 2021. They raised the full-year 2021 normalized FFO guidance to $1.05-$1.07 per diluted share. The quarterly cash dividend was increased to $0.17, marking a 6.25% rise. Occupancy rates improved with multifamily at 97.4% and retail at 95.2%. Additionally, the company reported a successful leasing of 90,000 square feet in commercial space and ongoing construction at Southern Post in Georgia.

Armada Hoffler Properties (NYSE: AHH) announced the upcoming construction of Southern Post in Roswell, Georgia, set to begin by the end of 2021. This mixed-use development will encompass 260,000 square feet, featuring 128 luxury apartments, 9 townhomes, 95,000 square feet of creative office space, and 40,000 square feet of retail. The project aims for a summer 2023 delivery and has an estimated cost of $110 million. The design will reflect Roswell's historical charm, supported by the company's construction subsidiary.

Armada Hoffler Properties (NYSE: AHH) announced a Q4 cash dividend of $0.17 per common share, marking a 6.25% increase from the previous quarter and a 54.5% increase year-to-date. The dividend is payable on January 6, 2022 to shareholders of record as of December 29, 2021.

The Board also declared a dividend of $0.421875 for its 6.75% Series A Preferred Stock, payable on January 14, 2022.

President & CEO Louis Haddad noted strong leasing activity and growth opportunities as the reasons for the increase. A conference call to discuss earnings will occur on November 2, 2021.

Armada Hoffler Properties (NYSE: AHH) will announce earnings for Q3 2021 on November 2, 2021, at 6:00 a.m. Eastern. A conference call will follow at 8:30 a.m. to discuss the results. Investors can join the call by dialing 877-407-3982 (domestic) or 201-493-6780 (international), or via the company’s website. A telephonic replay will be accessible until December 2, 2021. Armada Hoffler is a self-managed REIT with 40 years in developing and managing premier office, retail, and multifamily properties, primarily in the Mid-Atlantic and Southeastern U.S.

Armada Hoffler Properties (NYSE: AHH) has declared a cash dividend of $0.16 per common share for Q3 2021, payable on October 7, 2021 to stockholders of record as of September 29, 2021.

Additionally, the company announced a cash dividend of $0.421875 per share on its 6.75% Series A Cumulative Redeemable Perpetual Preferred Stock, payable on October 15, 2021 to stockholders of record on October 1, 2021.

Armada Hoffler Properties (NYSE: AHH) announced the acquisition of two retail centers: Overlook Village in Asheville, NC for $28.35 million and Greenbrier Square in Chesapeake, VA for $36.5 million. Overlook Village is fully occupied and features high-traffic anchors like T.J.Maxx, while Greenbrier Square boasts a 95.4% occupancy rate and houses the state's most visited Kroger. This strategic investment aims to enhance the company’s portfolio with high-quality, grocery-anchored retail properties, supporting ongoing NOI growth.