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Kirk A. Russell, a director at Armada Hoffler Properties, Inc. (NYSE:AHH), recently purchased shares of the company’s common stock, according to a filing with the Securities and Exchange Commission. On March 17, Russell acquired 30,000 shares at a weighted average price of $7.639 per share. The following day, he purchased an additional 10,000 shares at a price of $7.646 per share, near the stock’s 52-week low of $7.47. The total value of these transactions amounts to approximately $305,630. According to InvestingPro data, the stock appears oversold with technical indicators suggesting a potential bottom, while offering a substantial 7.31% dividend yield. Following these acquisitions, Russell now holds 59,430 shares directly.
Additionally, the filing notes that Russell’s spouse holds an indirect interest in 49,320.62 shares of common stock, while other indirect holdings include common units and time-based LTIP units, which are convertible into common stock under certain conditions. These transactions reflect Russell’s continued investment in Armada Hoffler, a Virginia-based real estate investment trust.
In other recent news, Armada Hoffler Properties, Inc. has declared a regular quarterly cash dividend of $0.14 per common share, to be paid on April 3, 2025. Additionally, a dividend of $0.421875 per share on its Series A Cumulative Redeemable Perpetual Preferred Stock will be distributed on April 15, 2025. The company’s decision to adjust the dividend is part of a strategic focus on quality assets and a conservative balance sheet. Armada Hoffler has also expanded its Board of Directors with the appointment of Jennifer Boykin, a leader with a history of industrial transformations, to help guide the company through the dynamic real estate landscape.
In further developments, the company amended its operating partnership agreement to include new terms for Performance LTIP Units, which vest based on performance conditions. These units, which can be converted into Common Units, were granted to executives Shawn J. Tibbetts and Matthew T. Barnes-Smith, aligning their 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. Performance LTIP Units, awarded at $750,000 to Tibbetts and $300,000 to Barnes-Smith, are contingent on the company’s total shareholder return relative to peers.
These recent changes reflect Armada Hoffler’s ongoing efforts to strategically position itself in the real estate market.
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