Haverty Furniture Companies (NYSE:HVT.A) Issues Earnings Results

Haverty Furniture Companies (NYSE:HVT.A) released its quarterly earnings results on Tuesday. The company reported $0.50 EPS for the quarter, Zacks reports.

Haverty Furniture Companies Stock Up 7.1%

Shares of HVT.A traded up $1.91 during trading hours on Tuesday, reaching $28.58. 27,955 shares of the company traded hands, compared to its average volume of 20,493. The business has a fifty day moving average price of $26.15 and a 200-day moving average price of $23.95. Haverty Furniture Companies has a 12-month low of $16.94 and a 12-month high of $44.99. The stock has a market capitalization of $464.93 million, a P/E ratio of 25.07 and a beta of 0.94.

About Haverty Furniture Companies

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.