Armada Hoffler Properties, Inc. (NYSE:AHH) released its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.25, Bloomberg Earnings reports. Armada Hoffler Properties had a net margin of 8.04% and a return on equity of 7.02%. The business had revenue of $26.76 million during the quarter, compared to analyst estimates of $27.18 million. During the same quarter in the previous year, the business earned $0.26 EPS. Armada Hoffler Properties’s quarterly revenue was up 10.4% compared to the same quarter last year. Armada Hoffler Properties updated its FY17 guidance to $0.97-0.99 EPS.
Armada Hoffler Properties (NYSE:AHH) opened at 13.04 on Friday. The company has a market cap of $818.61 million, a P/E ratio of 26.67 and a beta of 0.54. The stock’s 50 day moving average is $13.16 and its 200 day moving average is $13.58. Armada Hoffler Properties has a 12-month low of $12.52 and a 12-month high of $14.98.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 5th. Stockholders of record on Wednesday, September 27th will be issued a dividend of $0.19 per share. The ex-dividend date is Tuesday, September 26th. This represents a $0.76 annualized dividend and a dividend yield of 5.83%. Armada Hoffler Properties’s payout ratio is 158.34%.
Hedge funds have recently bought and sold shares of the company. Alliancebernstein L.P. boosted its stake in 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 worth $33,984,000 after buying an additional 1,271,592 shares in the last quarter. Thrivent Financial For Lutherans bought a new stake in Armada Hoffler Properties during the second quarter worth about $12,753,000. Vanguard Group Inc. boosted its stake in 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 worth $68,416,000 after buying an additional 839,457 shares in the last quarter. Kennedy Capital Management Inc. bought a new stake in Armada Hoffler Properties during the second quarter worth about $9,746,000. Finally, State Street Corp boosted its stake in 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 worth $13,888,000 after buying an additional 361,582 shares in the last quarter. Institutional investors own 64.65% of the company’s stock.
Several research analysts recently commented on AHH shares. Stifel Nicolaus dropped 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 report on Friday, May 12th. Robert W. Baird reiterated an “outperform” rating and issued a $15.00 target price on shares of Armada Hoffler Properties in a report on Friday, July 14th. Zacks Investment Research downgraded shares of Armada Hoffler Properties from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. BidaskClub downgraded shares of Armada Hoffler Properties from a “hold” rating to a “sell” rating in a report on Saturday, July 8th. Finally, ValuEngine downgraded shares of Armada Hoffler Properties from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $14.92.
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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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