Armada Hoffler director Wimbush buys $3,905 in common stock

F. Blair Wimbush, a director at Armada Hoffler Properties Inc. (NYSE:AHH), recently acquired shares in the company, according to a filing with the Securities and Exchange Commission. The stock currently trades near its 52-week low of $9.88, offering an attractive 8.24% dividend yield. According to InvestingPro analysis, the company appears fairly valued at current levels. On January 2, Wimbush purchased a total of 382.819 shares of common stock, with prices ranging from $10.18 to $10.23 per share. The total value of the transactions amounted to $3,905. These shares were acquired through a broker-sponsored dividend reinvestment program, increasing Wimbush's direct ownership to 19,346.666 shares. InvestingPro data shows the company has raised its dividend for four consecutive years, with 5.13% growth in the last twelve months. Subscribers can access 8 additional ProTips and a comprehensive Pro Research Report for deeper insights.

In other recent news, Armada Hoffler Properties, Inc. has announced significant developments. The company's Board of Directors has expanded, appointing Shawn J. Tibbetts, the current President and COO, effective January 1, 2025. This decision precedes his promotion to CEO, which is also slated for the same date. Tibbetts' appointment is part of a strategic leadership transition as the company prepares for its next phase of growth.

In addition, Armada Hoffler reported steady Q3 2024 financial results, with a normalized funds from operations (FFO) of $0.35 per diluted share and a standard FFO of $0.14 per diluted share. The company also highlighted the successful completion of a common equity offering and the addition of approximately 900 multifamily units to its portfolio.

Furthermore, Armada Hoffler has secured a lease with Stifel Financial Corp (NYSE:SF) for a 35,000 square feet space at Wills Wharf. Despite minor delays in development projects, the company reported strong occupancy rates across retail, multifamily, and commercial segments. These recent developments demonstrate the company's ongoing commitment to strategic growth and financial stability.

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