Armada Hoffler director Dennis Gartman buys $48,824 in inventory

Dennis H. Gartman, a director at Armada Hoffler Properties, Inc. (NYSE:AHH), just lately acquired further shares of the corporate. In line with a submitting with the Securities and Alternate Fee, Gartman bought 4,500 shares of frequent inventory on December 11, 2024, at a value of $10.8499 per share. This transaction quantities to a complete worth of $48,824. Following the acquisition, Gartman now holds a complete of 31,649 shares within the firm. The acquisition comes because the $1.1 billion market cap REIT gives a considerable 7.5% dividend yield and trades close to its 52-week low of $10.02. This transfer displays Gartman’s continued funding in Armada Hoffler, an actual property agency primarily based in Virginia Seaside, Virginia. In line with InvestingPro, the corporate has raised its dividend for 3 consecutive years, with analysts setting value targets as much as $13.00 per share. InvestingPro evaluation exhibits 7 extra key insights obtainable for subscribers, together with a complete Professional Analysis Report overlaying what actually issues about this inventory.

In different current information, Armada Hoffler Properties Inc. has introduced a management transition, with Shawn Tibbetts set to imagine the function of CEO efficient January 1, 2025. Tibbetts, who has considerably contributed to the corporate’s development since 2019, will succeed present CEO Lou Haddad upon his retirement. Along with this, Armada Hoffler reported regular monetary outcomes for the third quarter of 2024, together with a normalized funds from operations (FFO) of $0.35 per diluted share, and a regular FFO of $0.14 per diluted share.

The corporate additionally highlighted its profitable frequent fairness providing and the addition of roughly 900 multifamily models to its portfolio. Occupancy charges throughout segments stay sturdy, with retail at 96.2%, multifamily at 95.3%, and business at 95.6%. Moreover, Armada Hoffler has secured a lease with Stifel Monetary Corp (NYSE:SF) for 35,000 sq. toes at Wills Wharf, indicating a constructive outlook for the upcoming quarters. These are a few of the current developments within the firm’s operations and strategic initiatives.

This text was generated with the assist of AI and reviewed by an editor. For extra info see our T&C.