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VIRGINIA BEACH - Armada Hoffler Properties, Inc. (NYSE: AHH), a real estate investment trust, announced today that its Board of Directors has declared a regular quarterly cash dividend of $0.14 per common share, payable on April 3, 2025, to shareholders on record as of March 26, 2025. The company maintains a significant dividend yield of 9.4% and has raised its dividend for four consecutive years, according to InvestingPro data. Additionally, a cash dividend of $0.421875 per share on its 6.75% Series A Cumulative Redeemable Perpetual Preferred Stock was declared, to be distributed on April 15, 2025, to stockholders of record on April 1, 2025.
The company’s CEO and President, Shawn Tibbetts, stated that the decision to adjust the dividend is aimed at "right sizing the quarterly dividend" in line with the company’s strategic focus on quality assets and a conservative balance sheet. This move is part of Armada Hoffler’s updated business plan, which emphasizes reduced development risk and limited exposure to floating interest rates. The dividend payout is now fully supported by property income, independent of any fee income. InvestingPro analysis shows the company maintains a healthy current ratio of 1.93, indicating strong ability to meet short-term obligations, while trading near its 52-week low, presenting a potential opportunity for value investors.
Armada Hoffler, with a history dating back to 1979, is known for its integrated approach to the real estate market, offering development and general contracting construction services in addition to managing a portfolio of high-quality office, retail, and multifamily properties primarily in the Mid-Atlantic and Southeastern United States. With a market capitalization of $879 million and an EBITDA of $172 million for the last twelve months, the company currently trades at an EV/EBITDA multiple of 13.2x.
The management team at Armada Hoffler is open for individual investor meetings or teleconferences. Interested parties are encouraged to contact Chelsea Forrest, VP of Corporate Communications and Investor Relations, to schedule an appointment. For a comprehensive analysis of AHH’s financial health, valuation metrics, and growth prospects, investors can access the detailed Pro Research Report available on InvestingPro, which provides expert insights and actionable intelligence for informed investment decisions.
This announcement is based on a press release statement from Armada Hoffler Properties, Inc.
In other recent news, Armada Hoffler Properties, Inc. has announced several key developments impacting its leadership and strategic direction. The company has expanded its Board of Directors with the appointment of Jennifer Boykin, a seasoned leader with a notable background in industrial transformations. Boykin’s experience includes significant roles at Huntington Ingalls Industries, where she led digital innovations in shipbuilding. Additionally, Shawn J. Tibbetts, currently the President and Chief Operating Officer, will join the board as a director ahead of his transition to Chief Executive Officer, effective January 1, 2025.
Armada Hoffler has also amended its partnership agreement, introducing new terms for Performance LTIP Units that vest based on performance conditions. These changes were accompanied by executive awards to Tibbetts and Matthew T. Barnes-Smith, aligning leadership incentives with shareholder interests. The Time-Based LTIP Units, valued at $850,000 for Tibbetts and $325,000 for Barnes-Smith, will vest over three years, while Performance LTIP Units are contingent on the company’s total shareholder return. These recent developments reflect Armada Hoffler’s strategic efforts to enhance its leadership and align executive incentives with company performance.
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