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 announced that its One City Center in Durham will serve as WeWork's sole location in the area following the closure of another site. This 27-story mixed-use project features 130,000 square feet of office space, predominantly leased to Duke University, along with 22,000 square feet of retail. CEO Louis Haddad expressed enthusiasm for the continued partnership with WeWork, emphasizing their long-term commitment to flexibility in workspace solutions.
Armada Hoffler Properties (NYSE: AHH) reported a significant update on August rent collections, achieving 93% of total rents due as of August 21, 2020. Notably, office tenants demonstrated full compliance at 100%, while multifamily and retail tenants collected 92% and 89%, respectively. The company had previously collected over 95% of July rents and anticipates surpassing this threshold in August. Additionally, Armada Hoffler successfully raised nearly $90 million in new capital, paving the way for upcoming acquisitions and development activities.
Armada Hoffler Properties, Inc. (NYSE: AHH) announced a public offering of 3,600,000 shares of its 6.75% Series A Cumulative Redeemable Perpetual Preferred Stock at $24.75 per share, generating approximately $86.3 million in net proceeds. The offering is a re-opening and will close on August 20, 2020. Proceeds will be used to repay debts, including its revolving credit facility, and for potential acquisitions and corporate purposes. The Series A Preferred Stock is listed under the symbol 'AHHPrA' on the NYSE.
Armada Hoffler Properties, Inc. (NYSE: AHH) has announced a public offering of its 6.75% Series A Cumulative Redeemable Perpetual Preferred Stock. This offering is a re-opening of previous issuances, and the new shares will be fully fungible with existing ones. The net proceeds are intended for repaying debt, funding acquisitions, and general corporate purposes. BofA Securities, Raymond James, and Jefferies are leading the underwriting. The offering is registered under a previously effective shelf registration statement.
Armada Hoffler Properties reported a net income of $11.2 million, or $0.14 per diluted share, for Q2 2020, a significant increase from $6.0 million in Q2 2019. Normalized FFO reached $22.6 million, or $0.29 per diluted share. The company issued updated full-year Normalized FFO guidance of $1.09 to $1.13 per diluted share. Occupancy rates were 93.6% as of June 30, 2020. The company collected 87% of portfolio rents in Q2 and 93% in July. A cash dividend of $0.11 per share was declared. Despite uncertainties from COVID-19, the company expressed confidence in its diversified portfolio and operational resilience.
Armada Hoffler Properties (NYSE: AHH) has declared a cash dividend of $0.11 per common share for Q3 2020, payable on October 8, 2020, to stockholders on record as of September 30, 2020. This decision comes as monthly rent collections approach pre-COVID levels, marking a cautious return to dividend payments after a suspension earlier this year due to the pandemic. The Board also declared a cash dividend of $0.421875 per share for its 6.75% Series A Cumulative Redeemable Perpetual Preferred Stock, payable on October 15, 2020.
Armada Hoffler Properties (NYSE: AHH) announced a strong leasing update for its student housing properties, revealing a 95% pre-leased status for the 2020-2021 academic year as of July 27, 2020.
- Hoffler Place in Charleston, SC reports 100% occupancy.
- Summit Place in Charleston is 97% pre-leased.
- Johns Hopkins Village in Baltimore, MD shows 91% pre-leased status with additional prospects for remaining beds.
Armada Hoffler Properties, Inc. (NYSE: AHH) reported a rent collection rate of 91% for July as of July 17, 2020, an increase from 87% in June. The company anticipates over 95% by month-end, with substantially all office tenants current on rent payments and multifamily collections expected to remain high. Retail rent collection has improved significantly, reaching over 80% as most tenants resume operations. The company will provide further insights during its August 4 earnings call.
Armada Hoffler Properties (NYSE: AHH) has announced the termination of WeWork's lease for the top two office floors of Wills Wharf, prior to any tenant improvements. Both parties reached a mutually beneficial outcome, enabling Armada Hoffler to pursue leasing the remaining 69,000 square feet of space. Wills Wharf, located in Baltimore's Harbor Point, features over 325,000 square feet of prime mixed-use space. The company expresses optimism in finding new tenants to fill the space, highlighting the building's attractive location amidst Baltimore’s urban renaissance.
Armada Hoffler Properties (NYSE: AHH) reported improved rent collections for June 2020, achieving 87% as of June 19, compared to 85% in May and 84% in April. Nearly 90% of retail tenants are operational, and the company has engaged with over 95% of commercial tenants for rent relief. CEO Louis Haddad expressed optimism for June rent collection to exceed 90%, alongside solid construction profits expected in the third quarter. The company anticipates discussing the third-quarter dividend at its next board meeting if this positive trend continues.
