John Reese selects stocks based on a detailed historical analysis of the strategies of many of the s...
Armada Hoffler: A Safe Haven REIT
03/09/2017 7:00 am EST
Armada Hoffler is a trusted REIT that owns and operates neighborhood shopping centers anchored by major grocery chains, downtown AAA-rated office space and light industrial properties.
It operates in the mid-Atlantic states of Virginia, Maryland, North Carolina and South Carolina. All of those places are experiencing strong business and population demographics.
For the most recent fourth quarter, the company reported net income of $5.1 million, or $0.09 per share. For full-year 2006, AHH reported net income of $42.8 million, or $0.85 per diluted share, compared to net income of $31.2 million, or $0.75 per diluted share, for full-year 2015.
Same Store Net Operating Income (“NOI”) increased for the 10th consecutive quarter. Core operating property portfolio occupancy reached 94.3%.
AHH introduced 2017 full-year FFO guidance in the range of $0.99 to $1.03 per diluted share. At its current annual dividend payout of $0.76 per share, coverage for 2017 is estimated at 1.35 times and leaves plenty of room for growth.
In addition, the company declared a cash dividend of $0.19 per common share for the first quarter of 2017, representing a 5.6% increase over the prior quarter’s cash dividend and the third increase in three years to notch dividend growth of approximately 19%. The current dividend yield is 5.40%.
Related Articles on REITS
Periodic bouts of red ink, or larger declines like 10% corrections and even 20% bear markets, are a ...
Equity Residential (EQR) is a multifamily residential property REIT, which is all about apartments i...
AvalonBay Communities (AVB) is one of several real estate investment trusts (REITs) that have penetr...