Comstock Holding Companies (NASDAQ:CHCI) Posts Quarterly Earnings Results

Comstock Holding Companies (NASDAQ:CHCI) released its quarterly earnings results on Thursday. The construction company reported $0.06 EPS for the quarter, FiscalAI reports. Comstock Holding Companies had a net margin of 32.16% and a return on equity of 35.60%. The firm had revenue of $17.86 million for the quarter.

Comstock Holding Companies Stock Down 3.9%

NASDAQ CHCI traded down $0.73 during trading hours on Friday, hitting $17.88. 14,218 shares of the stock were exchanged, compared to its average volume of 23,943. The company has a market cap of $183.81 million, a price-to-earnings ratio of 7.54 and a beta of -0.42. Comstock Holding Companies has a 12-month low of $10.14 and a 12-month high of $22.07. The stock has a 50-day moving average of $19.07 and a 200 day moving average of $16.15.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Weiss Ratings raised Comstock Holding Companies from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, October 16th. Wall Street Zen downgraded Comstock Holding Companies from a “strong-buy” rating to a “hold” rating in a research report on Saturday. One research analyst has rated the stock with a Buy rating. Based on data from MarketBeat, the company has a consensus rating of “Buy”.

Institutional Trading of Comstock Holding Companies

Hedge funds have recently modified their holdings of the business. Pekin Hardy Strauss Inc. acquired a new stake in Comstock Holding Companies in the third quarter valued at $568,000. Integrated Wealth Concepts LLC acquired a new position in shares of Comstock Holding Companies during the 2nd quarter worth $45,000. Navellier & Associates Inc. increased its holdings in shares of Comstock Holding Companies by 159.2% in the 2nd quarter. Navellier & Associates Inc. now owns 37,569 shares of the construction company’s stock valued at $601,000 after purchasing an additional 23,072 shares in the last quarter. Corsair Capital Management L.P. increased its holdings in shares of Comstock Holding Companies by 8.4% in the 1st quarter. Corsair Capital Management L.P. now owns 49,236 shares of the construction company’s stock valued at $933,000 after purchasing an additional 3,800 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of Comstock Holding Companies by 1.8% in the first quarter. Renaissance Technologies LLC now owns 180,479 shares of the construction company’s stock valued at $3,418,000 after purchasing an additional 3,213 shares during the period. 6.45% of the stock is owned by institutional investors and hedge funds.

Comstock Holding Companies Company Profile

Comstock Holding Companies, Inc is a real estate development and asset management company focused on mixed-use and transit-oriented properties. The company plans, develops, owns, operates and manages residential, office, retail, entertainment and hospitality assets, with an emphasis on creating walkable, amenity-rich communities.

Comstock’s activities are concentrated primarily in the Washington, DC, metropolitan area, particularly Northern Virginia. Its portfolio and development projects have included large-scale urban communities such as Reston Station, which combines multifamily housing, office space, retail, dining, entertainment and public amenities near major transportation infrastructure.

The company has a history dating to the 1980s and has evolved from a residential and land development business into an integrated real estate platform.