Welcome to our dedicated page for Armada Hoffler Pptys news (Ticker: AHH), a resource for investors and traders seeking the latest updates and insights on Armada Hoffler Pptys stock.
Armada Hoffler Properties Inc (AHH) is a vertically integrated real estate investment trust with a proven track record in developing and managing commercial properties across the Mid-Atlantic and Southeast. This news hub provides investors with essential updates on corporate developments, financial performance, and strategic initiatives.
Access timely updates including quarterly earnings reports, acquisition announcements, and property development milestones. Our curated collection ensures you stay informed about lease agreements, construction projects, and leadership changes impacting AHH's portfolio of office, retail, and multifamily assets.
Key updates cover tenant acquisition strategies, capital improvement projects, and market expansion efforts. Bookmark this page for direct access to SEC filings, investor presentations, and operational updates from this established REIT. Regular visits ensure you maintain current awareness of factors influencing AHH's position in the competitive real estate sector.
Armada Hoffler (NYSE: AHH) has secured two major retail leases at Columbus Village in the Town Center of Virginia Beach district. The company signed a 14,000-square-foot lease with a grocer and a 19,000-square-foot lease with a national sporting goods retailer, effectively backfilling the former Bed Bath & Beyond space.
The Town Center district, Armada Hoffler's flagship mixed-use asset, boasts 6.9 million annual visits and features 640,000 square feet of retail space (98% leased), 800,000 square feet of office space (98% occupied, up from 95% in Q3 2024), and 760 apartments. Columbus Village comprises 157,000 square feet of retail space across 12 acres, with tenants including Barnes & Noble, Cava, Five Below, Ulta Beauty, and Shake Shack.
Armada Hoffler (NYSE: AHH) has announced its schedule for fourth quarter 2024 earnings release and discussion. The company will release its earnings report for the quarter ending December 31, 2024, on Wednesday, February 19th, 2025, at approximately 4:00 p.m. Eastern.
A conference call and webcast with senior management will follow on Thursday, February 20, 2025, at 8:30 a.m. Eastern. Investors can access the call via toll-free number (+1) 800-549-8228 or toll number (+1) 646 564 9445 using conference ID 73009. The webcast will be available through the company's investor relations website.
A telephonic replay will be accessible until March 20, 2025, using toll-free number (+1) 888-660-6264 or toll number (+1) 646-517-3975 with passcode 73009#. The webcast replay will be available approximately two hours after the call concludes.
Armada Hoffler (NYSE: AHH) has completed a significant office lease with Trader Interactive at Town Center of Virginia Beach. The deal involves a full 12,000-square-foot floor at 222 Central Ave., setting a new benchmark for office rent per square foot in the location. The lease contributed to increasing the occupancy rate of Town Center's 800,000 square feet of office space from 95% to 98% in Q4 2024.
The development saw over 110,000 square feet of new office leases and renewals in 2024, with overall rental rates increasing 20% since 2020. The 23-story building features 324,000 square feet of office space, 38,500 square feet of retail space, and a nine-story parking garage. The broader Town Center mixed-use district encompasses 620,000 square feet of retail space, 800,000 square feet of office space, and 760 apartments across 17 blocks and 25 acres.
Armada Hoffler (NYSE: AHH) received a positive update from Morningstar, which upgraded its outlook to stable while confirming its BBB credit rating. The rating agency's decision was influenced by AHH's improving leverage profile and enhanced portfolio diversification, particularly following the development of Allied, a mixed-use project in Baltimore featuring 312 multifamily units, retail space, and a parking garage.
The Allied project, scheduled for completion in Q1 2025 and expected stabilization by Q3 2026, is projected to become a significant contributor to the company's net operating income (NOI). The company's financial position was strengthened by a $103.5 million net proceed equity raise in September 2024, which was used for debt reduction. This strategic move has improved the company's leverage profile and enhanced its financial flexibility within the credit rating category.
Armada Hoffler (NYSE: AHH) has successfully sold two retail properties in South Carolina for $82 million, achieving a 20% profit over cost. The transaction, completed on December 18, 2024, included Nexton Square in Summerville and Market at Mill Creek in Mount Pleasant, both sold to the same undisclosed buyer at a blended cap rate in the low 6% range.
The sale generated nearly $60 million in cash equity for future growth opportunities and enabled the company to repay the Nexton Square mortgage, which was their most expensive variable-rate loan. Nexton Square is a 133,608-square-foot open-air lifestyle center serving a 4,500-acre master-planned community, while Market at Mill Creek features a 50,000-square-foot Lowes Foods anchor store plus 23,000 square feet of inline shop space.
Armada Hoffler (NYSE: AHH) has issued a correction to its December 13, 2024 dividend announcement, specifically regarding the record date for its Series A Preferred Stock dividend. The correct record date is January 2, 2025, not December 31, 2024. The company's Board of Directors has declared a cash dividend of $0.421875 per share on its 6.75% Series A Cumulative Redeemable Perpetual Preferred Stock, payable on January 15, 2025. All other dividend details, including common stock dividend record date, payment dates, and dividend amounts remain unchanged.
Armada Hoffler (NYSE: AHH) has declared its fourth quarter dividends. The company will distribute a cash dividend of $0.205 per common share, payable on January 2, 2025, to stockholders of record as of December 26, 2024. Additionally, holders of the company's 6.75% Series A Cumulative Redeemable Perpetual Preferred Stock will receive a cash dividend of $0.421875 per share, payable on January 15, 2025, to stockholders of record as of December 31, 2024.
Armada Hoffler (NYSE: AHH) announces leadership transition as Shawn Tibbetts, current President and COO, will become CEO effective January 1, 2025. Lou Haddad will retire as CEO after 25 years but remain as Executive Chairman. Under Tibbetts' operational leadership since 2019, the company achieved 45% portfolio NOI growth and executed over $1.2 billion in transactions. During Haddad's tenure, the company completed its IPO, developed Town Center of Virginia Beach, and grew to an enterprise value of $2.6 billion across eight states.
Armada Hoffler Properties reported a GAAP net loss of $10.4 million for Q3 2024, while achieving Normalized FFO of $0.35 per diluted share. The company demonstrated strong operational performance with positive metrics across segments: office same-store NOI grew 6.1%, office occupancy increased to 94.7%, retail occupancy rose to 96.2%, and multifamily showed positive tradeouts of 1.8%. The company narrowed its 2024 full-year Normalized FFO guidance to $1.25-$1.27 per diluted share. Notable financial activities included raising $108.7 million through a public offering of 10.35 million shares at $10.50 per share and maintaining a construction backlog of $193.1 million.
Armada Hoffler (NYSE: AHH) has announced a change in the timing of its third quarter 2024 financial results release and associated teleconference. The company will now report its earnings for the quarter ending September 30, 2024, at approximately 4:00 p.m. Eastern on Monday, November 4, 2024. A conference call and webcast hosted by senior management will follow at 8:30 a.m. Eastern on Tuesday, November 5, 2024, to discuss the earnings and other information.
To participate in the call, investors can dial (+1) 800 549 8228 (toll-free) or (+1) 646 564 2877 (toll) using the conference ID 73360. The call will also be available through the investors page of ArmadaHoffler.com. A telephonic replay will be accessible until December 30, 2024, by dialing (+1) 888 660 6264 (toll-free) or (+1) 646 517 3975 (toll) with passcode 73360#. Additionally, a webcast replay will be available approximately two hours after the call concludes.
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