Haverty Furniture Companies (NYSE:HVT.A) Shares Pass Below Fifty Day Moving Average – Here’s Why

Haverty Furniture Companies, Inc. (NYSE:HVT.A) shares crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $26.03 and traded as low as $22.18. Haverty Furniture Companies shares last traded at $22.18, with a volume of 171 shares trading hands.

Haverty Furniture Companies Price Performance

The stock has a market cap of $357.99 million, a price-to-earnings ratio of 18.96 and a beta of 0.91. The company’s 50 day moving average is $26.03 and its 200 day moving average is $24.21.

Haverty Furniture Companies (NYSE:HVT.A) last issued its earnings results on Tuesday, February 24th. The company reported $0.50 earnings per share for the quarter. The company had revenue of $201.92 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.