REIT Armada Hoffler to Offer Preferred

Armada Hoffler Properties (NYSE:AHH) will be offering a new issue of preferred with a fixed coupon.

The company has no other preferred or baby bond issues outstanding at this time.

The issue will be typical for a REIT preferred, meaning perpetual, cumulative but non qualified. The issue will be unrated. The optional redemption period will begin in 2024.

The permanent ticker for the issue will be AHH-A, although it will trade initially on the OTC Grey market under a yet to be announced temporary ticker symbol.

The preliminary prospectus can be seen here.

We are not very familiar with this company and have no real opinion on the new shares–at least until we see the coupon announced.

5 thoughts on “REIT Armada Hoffler to Offer Preferred”

  1. Hi Gary,
    Some of us have calculated out the same amount as you have shown, or roughly thereabouts. I sadly unloaded over 1k of KMPA last week as it’s just not worth holding IMO.

  2. Hi Tim,
    KMPA has been called for 7/8/19 which is 42 days from the last pay date of 5/27/29. Dividend is $1.84375 / 360 = .00512 daily x 42 = $0.215. So the payout on 7/8 will be $25.215, Correct ?

    1. That s what I came up with. Sold mine today at $25.26. Go figure. I ve had AHH common for years. Good company in the VA area. We ll see what the coupon is on the preferred but i’m Interested

    2. Hi Gary–as noted by others that is near the correct amount–plus or minus a penny. I sold mine last month a nice gain–hate to see this one go.

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