Armada Hoffler Pptys Inc Stock Price, News & Analysis

Armada Hoffler Properties (NYSE: AHH) reported a net income of $27.8 million, or $0.31 per diluted share, for Q2 2022, a significant increase from $5.6 million in Q2 2021. The company raised its full-year 2022 Normalized FFO guidance to $1.16 - $1.20 per diluted share, reflecting a 10% rise from 2021. Occupancy rates for office, retail, and multifamily properties stand at 97.9%, 97.1%, and 97.2%, respectively. A 12% cash dividend increase to $0.19 per share was announced. The construction backlog reached a record $541 million, supported by strong property operating income.

Armada Hoffler Properties (NYSE: AHH) announced a cash dividend of $0.19 per common share for Q3 2022, marking a 12% increase from the previous quarter. The dividend is payable on October 6, 2022, to stockholders of record on September 28, 2022. Additionally, a preferred stock dividend of $0.421875 per share will be paid on October 14, 2022. CEO Louis Haddad highlighted sustained growth, increased occupancy, and effective cost management as key factors supporting the dividend increase and anticipated strong earnings performance.

Armada Hoffler (NYSE: AHH) announced the successful sale of The Residences at Annapolis Junction, a 416-unit apartment community, for $150 million. This sale, finalized on July 22, 2022, is part of the company's strategy to dispose of $177 million in noncore assets, achieving a blended exit cap rate of 4.1%. CEO Lou Haddad highlighted that these proceeds will fulfill the company’s equity needs for the year and facilitate ongoing development projects without the need for capital market access. The property was 97% occupied at the time of the sale.

Armada Hoffler (NYSE: AHH) announced that Dennis Gartman, a renowned investor and economist, has joined its Board of Directors as the sixth independent member. President and CEO Lou Haddad expressed enthusiasm, stating Gartman's expertise will be a valuable resource for the company. Gartman has 30 years of experience publishing 'The Gartman Letter' and has held significant roles in various financial institutions. Armada Hoffler is a self-managed real estate investment trust specializing in developing and managing properties primarily in the Mid-Atlantic and Southeastern U.S.

Armada Hoffler (NYSE: AHH) has announced a new lease agreement with Franklin Templeton for 60,000 square feet at its Wills Wharf office building in Baltimore, achieving 91% occupancy. This addition strengthens Wills Wharf’s position as a premier location in the Harbor Point area, which houses major tenants like T. Rowe Price and Morgan Stanley. The building offers 325,000 square feet of Class A office space, contributing to the ongoing development of Baltimore’s waterfront, which has the potential for up to 3 million square feet of mixed-use space.

Armada Hoffler (NYSE: AHH) announced the successful sale of two properties leased to Costco and Home Depot in Durham, North Carolina, for $24 million, completed on June 29, 2022. The 4.0% exit capitalization rate surpassed their earlier target of 4.5%, reflecting strong investor demand for high credit, single-tenant assets. This transaction aligns with the company's broader strategy to divest up to $200 million in noncore assets this year, aiming to self-fund equity needs with minimal earnings impact.

Armada Hoffler Properties (NYSE: AHH) will release its earnings for Q2 2022 on August 4, 2022, at 6:00 a.m. Eastern. Following the earnings release, a conference call will take place at 8:30 a.m. Eastern, where senior management will discuss the results. The call can be accessed by dialing 877-407-3982 domestically or 201-493-6780 internationally, and through the company's website. A replay will be available until September 4, 2022. Armada Hoffler is a self-managed real estate investment trust with a focus on high-quality properties in the Mid-Atlantic and Southeastern U.S.

Armada Hoffler announces the resignation of Dorothy McAuliffe from its Board of Directors as she takes up a new role with the Biden administration's State Department. McAuliffe has been a director since 2019. The company has reduced its board size accordingly. CEO Lou Haddad expressed gratitude for her contributions and congratulated her on her new position. McAuliffe previously served in various roles focused on education and child welfare and has a background in law and financial regulation.

On May 12, 2022, Armada Hoffler Properties, Inc. (NYSE: AHH) announced a cash dividend of $0.17 per common share for Q2 2022, payable on July 7, 2022, to stockholders of record as of June 29, 2022. Additionally, a cash dividend of $0.421875 per share was declared on its 6.75% Series A Cumulative Redeemable Perpetual Preferred Stock, payable on July 15, 2022, to stockholders of record on July 1, 2022. Armada Hoffler is a real estate investment trust with over 40 years of experience in developing and managing properties primarily in the Mid-Atlantic and Southeastern U.S.