Zacks Investment Research lowered shares of Armada Hoffler Properties (NYSE:AHH) from a buy rating to a hold rating in a research note issued to investors on Friday, November 10th.
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 research firms have also issued reports on AHH. TheStreet raised shares of Armada Hoffler Properties from a c+ rating to a b rating in a report on Tuesday, October 31st. Bank of America initiated coverage on shares of Armada Hoffler Properties in a report on Wednesday, September 6th. They issued a buy rating and a $15.00 price objective for the company. Stifel Nicolaus reissued a hold rating and issued a $14.00 price objective on shares of Armada Hoffler Properties in a report on Thursday, September 21st. B. Riley reissued a buy rating on shares of Armada Hoffler Properties in a report on Thursday, November 2nd. Finally, FBR & Co reissued a buy rating on shares of Armada Hoffler Properties in a report on Tuesday, October 3rd. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Armada Hoffler Properties presently has a consensus rating of Buy and a consensus price target of $15.08.
Armada Hoffler Properties (NYSE:AHH) last released its earnings results on Tuesday, October 31st. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.01. Armada Hoffler Properties had a net margin of 7.78% and a return on equity of 6.36%. The business had revenue of $27.10 million during the quarter, compared to analyst estimates of $27.06 million. During the same quarter in the prior year, the firm earned $0.26 earnings per share. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. analysts forecast that Armada Hoffler Properties will post 0.99 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 4th. Shareholders of record on Wednesday, December 27th will be given a $0.19 dividend. The ex-dividend date is Tuesday, December 26th. This represents a $0.76 dividend on an annualized basis and a yield of 4.88%. Armada Hoffler Properties’s payout ratio is currently 152.00%.
In other Armada Hoffler Properties news, CEO Louis S. Haddad purchased 15,000 shares of Armada Hoffler Properties stock in a transaction dated Wednesday, November 8th. The shares were acquired at an average price of $14.92 per share, with a total value of $223,800.00. Following the completion of the transaction, the chief executive officer now owns 267,221 shares of the company’s stock, valued at $3,986,937.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 16.59% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Armada Hoffler Properties by 18.9% during the second quarter. Vanguard Group Inc. now owns 5,283,105 shares of the real estate investment trust’s stock worth $68,416,000 after purchasing an additional 839,457 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Armada Hoffler Properties by 12.7% during the second quarter. Alliancebernstein L.P. now owns 2,757,981 shares of the real estate investment trust’s stock worth $35,716,000 after buying an additional 311,360 shares during the period. Renaissance Technologies LLC increased its stake in shares of Armada Hoffler Properties by 7.0% during the second quarter. Renaissance Technologies LLC now owns 1,602,000 shares of the real estate investment trust’s stock worth $20,746,000 after buying an additional 104,700 shares during the period. State Street Corp increased its stake in shares of Armada Hoffler Properties by 50.9% during the second quarter. State Street Corp now owns 1,072,561 shares of the real estate investment trust’s stock worth $13,888,000 after buying an additional 361,582 shares during the period. Finally, Thrivent Financial For Lutherans purchased a new stake in shares of Armada Hoffler Properties during the second quarter worth approximately $12,753,000. 82.13% of the stock is currently owned by institutional investors and hedge funds.
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About Armada Hoffler Properties
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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