Haverty Furniture Companies (NYSE:HVT.A) Trading 12% Higher – Time to Buy?

Shares of Haverty Furniture Companies, Inc. (NYSE:HVT.A) traded up 12% during trading on Friday . The stock traded as high as $25.60 and last traded at $25.9150. 577 shares traded hands during trading, an increase of 183% from the average session volume of 204 shares. The stock had previously closed at $23.14.

Haverty Furniture Companies Trading Up 12.0%

The business’s fifty day simple moving average is $23.97 and its 200 day simple moving average is $22.68. The stock has a market cap of $421.64 million, a P/E ratio of 22.73 and a beta of 0.90.

Haverty Furniture Companies (NYSE:HVT.A) last announced its earnings results on Wednesday, October 29th. The company reported $0.28 earnings per share for the quarter. The firm had revenue of $194.48 million for the quarter.

Haverty Furniture Companies Company Profile

Haverty Furniture Companies, Inc is a publicly traded real estate investment trust specializing in owning and managing retail and distribution properties for the furniture industry. Established in 2019 as a spin-off from Havertys Furniture Stores, Inc, the company’s portfolio consists of strategically located facilities—including showroom locations and distribution centers—leased primarily to its former parent under long-term, net lease agreements. By focusing on single-tenant commercial real estate tailored to furniture retailing and logistics, Haverty Furniture Companies aims to deliver stable, predictable rental income and to support the growth of its tenant’s national retail network.

At the time of its formation, Haverty Furniture Companies acquired a mix of properties encompassing corporate distribution centers, regional distribution hubs and retail showrooms across several key markets in the Southeastern and Southwestern United States.