Welcome to our dedicated page for Armada Hoffler Properties news (Ticker: AHH), a resource for investors and traders seeking the latest updates and insights on Armada Hoffler Properties stock.
Armada Hoffler Properties, Inc. (NYSE: AHH) is a vertically integrated, self-managed real estate investment trust (REIT) with over four decades of experience in developing, building, acquiring, and managing high-quality, institutional-grade office, retail, and multifamily properties. The company primarily operates in the Mid-Atlantic and Southeastern United States. Founded in 1979 by Daniel A. Hoffler, Armada Hoffler has established itself as a significant player in the real estate industry, known for its diversified portfolio and commitment to excellence.
The company's core business segments include office real estate, retail real estate, multifamily residential real estate, and general contracting and real estate services. Armada Hoffler generates maximum revenue from its general contracting and real estate services segment, providing development and construction services to third-party clients in addition to its own properties.
Armada Hoffler's properties are leased under operating leases, with revenue recognized from base rents and tenant recoveries, where tenants reimburse the company for expenses such as utilities and maintenance. The company's flagship properties, such as the Town Center of Virginia Beach and Wills Wharf in Baltimore, showcase its mixed-use development capabilities, featuring a blend of office, retail, and residential spaces.
Recent achievements include securing new office tenants, such as KPMG LLP and Duane Morris LLP, which have significantly increased the occupancy rates in its flagship developments. The company has also maintained strong financial performance, with a consistent increase in dividends, reflecting its robust leasing activity and strategic capital allocation.
Armada Hoffler is currently engaged in several key projects, including the Southern Post mixed-use development in Roswell, Georgia, and The Interlock in Atlanta, Georgia. These projects exemplify the company's commitment to creating vibrant, mixed-use environments that attract both tenants and consumers.
In 2024, Armada Hoffler completed a leadership transition plan, appointing Shawn Tibbetts as President and announcing the future retirement of CEO Louis Haddad. The company remains committed to its strategic growth plan, focusing on expanding its portfolio while maintaining financial stability and delivering value to its shareholders.
For more information, visit ArmadaHoffler.com or contact Chelsea Forrest, Director of Corporate Communications and Investor Relations, at CForrest@ArmadaHoffler.com or (757) 612-4248.
Armada Hoffler (NYSE: AHH) will report its earnings for Q1 2023 on May 9, 2023, at 6:00 a.m. Eastern. A conference call will follow at 8:30 a.m. for senior management to discuss the earnings release.
Investors can join the call by dialing (+1) 888-259-6580 (toll-free) or (+1) 514-316-5035 (toll) with conference ID 47149616. The call will also be available via a webcast on the company’s website, ArmadaHoffler.com.
A telephonic replay will be accessible until June 9, 2023, by dialing (+1) 877-674-7070 or (+1) 416-764-8692 using passcode 149616#. Additionally, a webcast replay will be available for 30 days starting two hours post-call.
Armada Hoffler (NYSE: AHH) announced a cash dividend of $0.19 per common share for Q1 2023, payable on April 6, 2023, to stockholders of record by March 29, 2023.
Additionally, a dividend of $0.421875 per share will be distributed on its 6.75% Series A Preferred Stock, payable on April 14, 2023, to stockholders recorded by April 3, 2023.
Armada Hoffler, a self-managed REIT with over 40 years of experience, focuses on developing and managing high-quality properties primarily in the Mid-Atlantic and Southeastern U.S.
Armada Hoffler (NYSE: AHH) has announced the income tax treatment for its 2022 dividend distributions, detailing important allocations for both common and preferred stockholders. For common stock, 65.64% of dividends will be classified as ordinary taxable income, while 34.36% will be categorized as non-dividend distributions. In contrast, the full 100% of preferred stock dividends is considered ordinary income. Stockholders are advised to consult their tax advisors for specific situations. This announcement aligns with the 2017 Tax Cuts and Jobs Act regulations, highlighting Armada's commitment to transparent reporting and shareholder communication.
Armada Hoffler Properties (NYSE: AHH) reported a strong financial performance for Q4 2022, achieving a net income of $11.5 million ($0.13 per diluted share), a significant increase from $0.4 million the previous year. For the full year, net income rose to $82.5 million ($0.93 per diluted share), compared to $13.9 million in 2021. The company reported a normalized FFO of $1.22 per diluted share, a 13% year-over-year increase. Portfolio occupancy remained high at 97%. The firm introduced 2023 normalized FFO guidance of $1.23 to $1.27 per diluted share and received a BBB investment grade credit rating. Strong performance in the construction segment contributed positively to earnings.
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