Zacks Investment Research lowered shares of Armada Hoffler Properties (NYSE:AHH) from a hold rating to a sell rating in a research note released on Monday, January 8th.
According to Zacks, “Armada Hoffler Properties, Inc. is a real estate investment trust. It is engaged in developing, building, owning and managing office, retail and multifamily properties primarily in the United States. Its properties are situated in Virginia and North Carolina. Armada Hoffler Properties, Inc. is based in Virginia Beach, United States. “
A number of other analysts have also recently weighed in on the company. Raymond James Financial reiterated a market perform rating on shares of Armada Hoffler Properties in a research report on Monday, January 8th. Citigroup lowered Armada Hoffler Properties to a market perform rating in a research note on Monday, January 8th. They noted that the move was a valuation call. B. Riley reaffirmed a buy rating on shares of Armada Hoffler Properties in a research note on Thursday, November 2nd. TheStreet raised Armada Hoffler Properties from a c+ rating to a b rating in a research note on Tuesday, October 31st. Finally, FBR & Co restated a buy rating on shares of Armada Hoffler Properties in a report on Tuesday, October 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. Armada Hoffler Properties has a consensus rating of Hold and an average price target of $15.20.
Armada Hoffler Properties (NYSE:AHH) last issued its quarterly earnings results on Tuesday, October 31st. The real estate investment trust reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The company had revenue of $27.10 million during the quarter, compared to analyst estimates of $27.06 million. Armada Hoffler Properties had a return on equity of 6.36% and a net margin of 7.78%. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.26 earnings per share. equities research analysts predict that Armada Hoffler Properties will post 0.99 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, January 4th. Investors of record on Wednesday, December 27th were issued a dividend of $0.19 per share. The ex-dividend date was Tuesday, December 26th. This represents a $0.76 annualized dividend and a yield of 5.29%. Armada Hoffler Properties’s payout ratio is currently 152.00%.
In related news, CEO Louis S. Haddad acquired 15,000 shares of the company’s stock in a transaction on Wednesday, November 8th. The stock was purchased at an average cost of $14.92 per share, with a total value of $223,800.00. Following the acquisition, the chief executive officer now directly owns 267,221 shares of the company’s stock, valued at $3,986,937.32. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 16.59% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Schwab Charles Investment Management Inc. grew its position in Armada Hoffler Properties by 34.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 171,447 shares of the real estate investment trust’s stock worth $2,221,000 after acquiring an additional 44,155 shares during the last quarter. Arizona State Retirement System acquired a new position in Armada Hoffler Properties during the 2nd quarter worth about $303,000. First Trust Advisors LP lifted its holdings in Armada Hoffler Properties by 16.8% during the 2nd quarter. First Trust Advisors LP now owns 47,088 shares of the real estate investment trust’s stock worth $610,000 after buying an additional 6,785 shares during the period. Rhumbline Advisers lifted its holdings in Armada Hoffler Properties by 103.4% during the 2nd quarter. Rhumbline Advisers now owns 89,835 shares of the real estate investment trust’s stock worth $1,163,000 after buying an additional 45,665 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Armada Hoffler Properties by 85.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 631,569 shares of the real estate investment trust’s stock worth $8,179,000 after buying an additional 291,859 shares during the period. Institutional investors own 81.98% of the company’s stock.
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Armada Hoffler Properties Company Profile
Armada Hoffler Properties, Inc is a real estate company. The Company is engaged in developing, building, owning and managing institutional-grade office, retail and multifamily properties in various markets throughout the Mid-Atlantic and Southeastern United States. In addition to the ownership of its operating property portfolio, the Company develops and builds properties for its own account and through joint ventures between the Company and unaffiliated partners.
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