AHH Stock Recent News

Armada Hoffler Properties (AHH) came out with quarterly funds from operations (FFO) of $0.33 per share, beating the Zacks Consensus Estimate of $0.31 per share. This compares to FFO of $0.30 per share a year ago.

Most REITs are cheap, but not all REITs are worth buying. Some REITs own challenged properties. Others are overleveraged. I highlight two examples to avoid.

Armada Hoffler Properties is a diversified REIT with a portfolio of multifamily, office, and retail properties. Management is shifting the portfolio mix away from Office, all while protecting its existing high-quality office assets from subpar leases. AHH projects continued fundamental growth in 2024 and offers attractive dividend yields on both its common and preferred shares, all while trading at a discounted valuation.

Armada Hoffler Properties just hiked its quarterly cash dividend by 5.1%, resulting in an 8.2% forward dividend yield. This is 151% covered by normalized FFO with just 2% of AHH's office portfolio leases expiring in 2024. The 96.1% weighted portfolio occupancy at the end of the fourth quarter is attractive with AHH now trading for 8x the midpoint of its guided normalized FFO range for 2024.

Armada Hoffler Properties is a mispriced REIT that presents an opportunity for income growth. AHH's financials for 2023 were solid, with steady revenue growth and a well-covered dividend with a conservative FFO payout of 62.5% . The company has a solid balance sheet, although its leverage level is higher than ideal, and it has plans to reduce it in the coming quarters.

Armada Hoffler Properties, Inc. (AHH) Q4 2023 Earnings Call Transcript

The headline numbers for Armada Hoffler Properties (AHH) give insight into how the company performed in the quarter ended December 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Armada Hoffler Properties (AHH) came out with quarterly funds from operations (FFO) of $0.31 per share, missing the Zacks Consensus Estimate of $0.32 per share. This compares to FFO of $0.35 per share a year ago.

Besides Wall Street's top -and-bottom-line estimates for Armada Hoffler Properties (AHH), review projections for some of its key metrics to gain a deeper understanding of how the company might have fared during the quarter ended December 2023.

Moody's Analytics reports that 19.6% of office space in major US cities is unleased, a new record high. Armada Hoffler Properties, a small-cap REIT, owns office space and has dealt with bankrupt WeWork, but presents a growth opportunity. AHH's portfolio includes office, multifamily, and retail properties, and the company has rejected WeWork lease renegotiations and is experiencing leasing interest.