BidaskClub Downgrades Armada Hoffler Properties, Inc. (AHH) to Hold

BidaskClub lowered shares of Armada Hoffler Properties, Inc. (NYSE:AHH) from a buy rating to a hold rating in a research report released on Monday morning.

Several other equities research analysts also recently commented on the stock. Stifel Nicolaus reduced their target price on shares of Armada Hoffler Properties from $15.00 to $14.50 and set a buy rating on the stock in a research note on Friday, May 12th. Zacks Investment Research downgraded shares of Armada Hoffler Properties from a hold rating to a strong sell rating in a research note on Friday, June 16th. Robert W. Baird restated an outperform rating and issued a $15.00 target price on shares of Armada Hoffler Properties in a research note on Friday, July 14th. FBR & Co restated an outperform rating and issued a $15.00 target price on shares of Armada Hoffler Properties in a research note on Tuesday, July 11th. Finally, ValuEngine downgraded shares of Armada Hoffler Properties from a buy rating to a hold rating in a research note on Tuesday, June 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $14.92.

Shares of Armada Hoffler Properties (NYSE AHH) opened at 13.17 on Monday. Armada Hoffler Properties has a 12-month low of $12.52 and a 12-month high of $14.98. The company has a 50 day moving average of $13.16 and a 200-day moving average of $13.59. The firm has a market cap of $826.77 million, a PE ratio of 26.93 and a beta of 0.54.

Armada Hoffler Properties (NYSE:AHH) last issued its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.25 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.25. Armada Hoffler Properties had a net margin of 8.04% and a return on equity of 7.02%. The company had revenue of $26.76 million for the quarter, compared to the consensus estimate of $27.18 million. During the same quarter in the previous year, the company earned $0.26 EPS. The firm’s revenue for the quarter was up 10.4% compared to the same quarter last year. Equities research analysts forecast that Armada Hoffler Properties will post $0.41 EPS for the current fiscal year.

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The business also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Investors of record on Wednesday, September 27th will be given a dividend of $0.19 per share. The ex-dividend date is Tuesday, September 26th. This represents a $0.76 annualized dividend and a yield of 5.77%. Armada Hoffler Properties’s dividend payout ratio (DPR) is 158.34%.

In related news, CEO Louis S. Haddad purchased 10,000 shares of Armada Hoffler Properties stock in a transaction that occurred on Friday, June 23rd. The shares were acquired at an average price of $13.39 per share, for a total transaction of $133,900.00. Following the transaction, the chief executive officer now directly owns 252,221 shares in the company, valued at $3,377,239.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 20.87% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Alliancebernstein L.P. increased its position in shares of Armada Hoffler Properties by 108.2% in the first quarter. Alliancebernstein L.P. now owns 2,446,621 shares of the real estate investment trust’s stock valued at $33,984,000 after buying an additional 1,271,592 shares during the period. Thrivent Financial For Lutherans bought a new position in shares of Armada Hoffler Properties during the second quarter valued at about $12,753,000. Vanguard Group Inc. increased its position in shares of Armada Hoffler Properties by 18.9% in the second quarter. Vanguard Group Inc. now owns 5,283,105 shares of the real estate investment trust’s stock valued at $68,416,000 after buying an additional 839,457 shares during the period. Kennedy Capital Management Inc. bought a new position in shares of Armada Hoffler Properties during the second quarter valued at about $9,746,000. Finally, State Street Corp increased its position in shares of Armada Hoffler Properties by 50.9% in the second quarter. State Street Corp now owns 1,072,561 shares of the real estate investment trust’s stock valued at $13,888,000 after buying an additional 361,582 shares during the period. Institutional investors and hedge funds own 64.65% of the company’s stock.

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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