Haverty Furniture Companies (NYSE:HVT.A) Stock Price Down 7.3% – Here’s Why

Haverty Furniture Companies, Inc. (NYSE:HVT.A)’s stock price fell 7.3% on Thursday . The company traded as low as $28.05 and last traded at $28.05. 264 shares were traded during trading, an increase of 36% from the average session volume of 194 shares. The stock had previously closed at $30.25.

Haverty Furniture Companies Stock Performance

The company has a market capitalization of $451.32 million, a P/E ratio of 23.38 and a beta of 0.80. The business’s fifty day simple moving average is $26.47 and its 200-day simple moving average is $25.53.

Haverty Furniture Companies (NYSE:HVT.A) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.26 earnings per share for the quarter. The firm had revenue of $189.05 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.