Haverty Furniture Companies (NYSE:HVT.A) Shares Gap Down – Should You Sell?

Haverty Furniture Companies, Inc. (NYSE:HVT.A) gapped down before the market opened on Thursday . The stock had previously closed at $32.00, but opened at $29.74. Haverty Furniture Companies shares last traded at $31.50, with a volume of 582 shares.

Haverty Furniture Companies Stock Performance

The firm’s 50 day moving average price is $29.79 and its two-hundred day moving average price is $26.34. The firm has a market cap of $506.83 million, a PE ratio of 23.16 and a beta of 0.81.

Haverty Furniture Companies (NYSE:HVT.A) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.25 earnings per share for the quarter. The company had revenue of $194.94 million for the quarter.

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.