Zacks Investment Research downgraded shares of Armada Hoffler Properties (NYSE:AHH) from a hold rating to a sell rating in a report published on Monday morning.
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 brokerages have also recently weighed in on AHH. TheStreet upgraded shares of Armada Hoffler Properties from a c+ rating to a b rating in a research note on Tuesday, October 31st. Stifel Nicolaus reiterated a hold rating and set a $14.00 price target on shares of Armada Hoffler Properties in a research note on Thursday, September 21st. B. Riley reiterated a buy rating on shares of Armada Hoffler Properties in a research note on Thursday, November 2nd. FBR & Co reiterated a buy rating on shares of Armada Hoffler Properties in a research note on Tuesday, October 3rd. Finally, ValuEngine upgraded shares of Armada Hoffler Properties from a hold rating to a buy rating in a research note on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price 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 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.01. The business had revenue of $27.10 million for the quarter, compared to analysts’ expectations of $27.06 million. Armada Hoffler Properties had a net margin of 7.78% and a return on equity of 6.36%. The company’s revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.26 EPS. equities research analysts expect that Armada Hoffler Properties will post 0.99 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, January 4th. Investors of record on Wednesday, December 27th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 5.24%. The ex-dividend date was Tuesday, December 26th. Armada Hoffler Properties’s dividend payout ratio (DPR) is 161.70%.
In other news, CEO Louis S. Haddad bought 15,000 shares of the stock in a transaction that occurred on 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 purchase, the chief executive officer now owns 267,221 shares in the company, valued at $3,986,937.32. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 16.59% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in AHH. Thrivent Financial For Lutherans purchased a new position in shares of Armada Hoffler Properties during the 2nd quarter valued at $12,753,000. Vanguard Group Inc. lifted its stake in shares of Armada Hoffler Properties by 18.9% during the 2nd 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 in the last quarter. State Street Corp lifted its stake in shares of Armada Hoffler Properties by 50.9% during the 2nd 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 in the last quarter. Alliancebernstein L.P. lifted its stake in shares of Armada Hoffler Properties by 12.7% during the 2nd quarter. Alliancebernstein L.P. now owns 2,757,981 shares of the real estate investment trust’s stock valued at $35,716,000 after buying an additional 311,360 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of 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 valued at $8,179,000 after buying an additional 291,859 shares in the last quarter. Institutional investors own 81.98% of the company’s stock.
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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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