Armada Hoffler Properties, Inc. (NYSE:AHH) Rating Increased to Buy at Zacks Investment Research

Armada Hoffler Properties, Inc. (NYSE:AHH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday, November 2nd. The brokerage currently has a $16.00 price objective on the real estate investment trust’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 4.92% from the company’s current price.

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. “

Several other research analysts have also recently weighed in on the stock. Bank of America Corporation 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 target on the stock. Robert W. Baird reaffirmed an “outperform” rating and set a $15.00 target price on shares of Armada Hoffler Properties in a report on Friday, July 14th. BidaskClub cut shares of Armada Hoffler Properties from a “hold” rating to a “sell” rating in a report on Saturday, July 8th. FBR & Co reaffirmed an “outperform” rating and set a $15.00 target price on shares of Armada Hoffler Properties in a report on Tuesday, July 11th. Finally, TheStreet raised shares of Armada Hoffler Properties from a “c+” rating to a “b” rating in a research note on Tuesday, October 31st. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $15.08.

Armada Hoffler Properties (NYSE AHH) traded up $0.19 during trading on Thursday, hitting $15.25. 316,666 shares of the stock were exchanged, compared to its average volume of 365,305. Armada Hoffler Properties has a one year low of $12.65 and a one year high of $15.34. The firm has a market cap of $941.98, a P/E ratio of 14.90, a price-to-earnings-growth ratio of 4.44 and a beta of 0.55. The company has a debt-to-equity ratio of 1.13, a quick ratio of 10.44 and a current ratio of 10.44.

Armada Hoffler Properties (NYSE:AHH) last issued its earnings results on Tuesday, October 31st. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 the consensus estimate of $27.06 million. During the same period last year, the business posted $0.26 EPS. Armada Hoffler Properties’s revenue was up 7.1% on a year-over-year basis. analysts expect that Armada Hoffler Properties will post 0.99 earnings per share for the current year.

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In other Armada Hoffler Properties news, CEO Louis S. Haddad purchased 15,000 shares of the business’s stock in a transaction dated Wednesday, November 8th. The shares were bought at an average price of $14.92 per share, for a total transaction of $223,800.00. Following the completion of the acquisition, the chief executive officer now owns 267,221 shares in the company, valued at $3,986,937.32. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.59% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of AHH. Thrivent Financial For Lutherans bought a new stake in shares of Armada Hoffler Properties during the second quarter worth about $12,753,000. Vanguard Group Inc. increased 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 acquiring an additional 839,457 shares in the last quarter. Kennedy Capital Management Inc. bought a new stake in shares of Armada Hoffler Properties during the second quarter worth about $9,746,000. State Street Corp increased its position 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 acquiring an additional 361,582 shares in the last quarter. Finally, Alliancebernstein L.P. increased its position 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 acquiring an additional 311,360 shares in the last quarter. 81.50% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Armada Hoffler Properties (NYSE:AHH)

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