Armada Hoffler Properties (NYSE:AHRT) Upgraded by Jefferies Financial Group to Strong-Buy Rating

Armada Hoffler Properties (NYSE:AHRT) was upgraded by equities researchers at Jefferies Financial Group to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

AHRT has been the topic of several other research reports. Stifel Nicolaus reduced their price objective on Armada Hoffler Properties from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday, May 5th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Armada Hoffler Properties in a research note on Friday, August 7th. Finally, Wall Street Zen upgraded Armada Hoffler Properties from a “strong sell” rating to a “sell” rating in a report on Saturday, May 23rd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Armada Hoffler Properties has an average rating of “Hold” and an average target price of $7.38.

Armada Hoffler Properties Trading Up 0.8%

Shares of NYSE AHRT opened at $6.71 on Tuesday. Armada Hoffler Properties has a 1-year low of $5.13 and a 1-year high of $7.71. The company has a market cap of $500.89 million, a PE ratio of -10.66 and a beta of 1.07. The company has a current ratio of 3.10, a quick ratio of 3.10 and a debt-to-equity ratio of 1.91. The company has a 50-day moving average of $6.94 and a two-hundred day moving average of $6.50.

Armada Hoffler Properties announced that its Board of Directors has approved a stock repurchase program on Thursday, May 14th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to repurchase up to 15% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Armada Hoffler Properties by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 9,124,367 shares of the real estate investment trust’s stock worth $60,403,000 after acquiring an additional 28,813 shares during the period. State Street Corp boosted its stake in Armada Hoffler Properties by 1.6% in the 4th quarter. State Street Corp now owns 3,209,990 shares of the real estate investment trust’s stock worth $21,692,000 after purchasing an additional 51,848 shares during the period. Invesco Ltd. increased its holdings in Armada Hoffler Properties by 3.5% during the 4th quarter. Invesco Ltd. now owns 2,296,307 shares of the real estate investment trust’s stock worth $15,202,000 after purchasing an additional 77,532 shares in the last quarter. Franklin Resources Inc. increased its holdings in Armada Hoffler Properties by 4.4% during the 4th quarter. Franklin Resources Inc. now owns 2,234,270 shares of the real estate investment trust’s stock worth $14,791,000 after purchasing an additional 94,614 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Armada Hoffler Properties by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 2,158,972 shares of the real estate investment trust’s stock valued at $14,295,000 after purchasing an additional 23,007 shares during the period. Institutional investors and hedge funds own 66.35% of the company’s stock.

About Armada Hoffler Properties

Armada Hoffler Properties, Inc is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and development of retail, office and mixed-use properties. The company’s portfolio primarily comprises neighborhood and community shopping centers, urban infill retail sites and select office buildings located in high-growth markets. Armada Hoffler also provides in-house property management and leasing services, leveraging its vertically integrated platform to enhance asset value and tenant satisfaction.

Founded on a legacy of commercial real estate development dating back to the 1970s, Armada Hoffler went public in 2016 through a strategic combination of private real estate entities.