Armada Hoffler Pptys Inc Stock Price, News & Analysis

Armada Hoffler Properties reported a net income of $1.9 million ($0.02 per diluted share) for Q4 2020, down from $7.2 million ($0.09) in Q4 2019. Full-year net income was $29.8 million ($0.38 per diluted share), slightly up from $29.6 million ($0.41). The Normalized FFO for Q4 was $19.9 million ($0.25 per diluted share), while the full-year figure was $86.2 million ($1.10). The company increased its first quarter cash dividend by over 36% to $0.15 per share and introduced 2021 Normalized FFO guidance of $0.98 to $1.02 per diluted share.

Armada Hoffler Properties (NYSE: AHH) announced a 36% increase in its first quarter cash dividend, declaring $0.15 per common share for Q1 2021. This dividend will be payable on April 8, 2021 to stockholders of record as of March 31, 2021. Additionally, a cash dividend of $0.421875 per share will be paid on its 6.75% Series A Cumulative Redeemable Perpetual Preferred Stock on April 15, 2021 to stockholders on record by April 1, 2021. President & CEO, Louis Haddad, expressed confidence in the company’s outlook.

Armada Hoffler Properties (NYSE: AHH) announced the tax treatment of its 2020 dividend distributions to common and preferred stockholders. The final income allocations indicate that 59.09% of the common stock dividends will be classified as ordinary income and 40.91% as a return of capital. For preferred stock, 100% of the dividends will be considered ordinary income. Shareholders should consult tax advisors for personal tax treatment. This information comes amid the ongoing implications of the 2017 Tax Cuts and Jobs Act for dividend classification.

Armada Hoffler Properties, Inc. (NYSE: AHH) is set to report its earnings for the fourth quarter and full year ended December 31, 2020, on February 11, 2021, at 6:00 a.m. EST. A conference call will follow at 8:30 a.m. EST to discuss the results. Investors can access the call via phone or through the company's website. This REIT, with over 40 years of experience, specializes in high-quality office, retail, and multifamily properties in the Mid-Atlantic and Southeastern U.S.

Armada Hoffler Properties, Inc. (NYSE: AHH) will host a conference call and webcast on December 7, 2020, at 4:30 p.m. EST to discuss its joint venture with T. Rowe Price for a new 450,000 square foot global headquarters at Harbor Point. Senior management will present prepared remarks followed by a Q&A session. Investors can access the presentation on the Company's website before the call. Dial-in instructions for the call and details for accessing a replay are provided, emphasizing accessible communication for stakeholders.

Armada Hoffler Properties (NYSE: AHH) announced a 50/50 joint venture with Beatty Development Group to develop T. Rowe Price's new 450,000 square foot global headquarters at Harbor Point, Baltimore. This project, valued at approximately $250 million, includes office space and retail, enhancing the area with green spaces. T. Rowe Price has signed a 15-year lease and plans to relocate 1,700 employees by mid-2024. The joint venture also involves building a mixed-use facility with structured parking, accommodating existing needs and new influx from the headquarters.

Armada Hoffler Properties (NYSE: AHH) declared a cash dividend of $0.11 per common share for Q4 2020, payable on January 7, 2021, to stockholders of record by December 30, 2020. Additionally, a cash dividend of $0.421875 per share on its 6.75% Series A Cumulative Redeemable Perpetual Preferred Stock will be paid on January 15, 2021, to record holders by January 4, 2021. Armada Hoffler, established in 1979, is a vertically-integrated real estate investment trust focused on developing and managing properties in the Mid-Atlantic and Southeastern U.S.

Armada Hoffler Properties (NYSE: AHH) reported Q3 2020 results with net income decreasing to $8.7 million ($0.11/share), down from $9.9 million ($0.13/share) in Q3 2019. Normalized Funds from Operations (FFO) fell to $19.0 million ($0.24/share) from $22.5 million ($0.30/share) year-over-year. The company updated its full-year Normalized FFO guidance to $1.10-$1.12/share. Portfolio occupancy improved to 95.4%, with 96% of rents collected for Q3. The firm also announced new developments and acquisitions, including a $52 million project in Gainesville, Georgia.

Armada Hoffler Properties (NYSE: AHH) has completed the acquisition of The Residences at Annapolis Junction, previously under mezzanine loan by the company. The property, featuring 416 luxury apartments, was refinanced with a 10-year $84 million loan at 2.74% interest for the first three years. Located in Howard County, Maryland, the community is near key locations like Fort Meade. The acquisition boosts Armada's multifamily portfolio to over 2,300 units, with a focus on high-demand Mid-Atlantic and Southeast markets.