Zacks Investment Research downgraded shares of Armada Hoffler Properties (NYSE:AHH) from a hold rating to a sell rating in a research note published on Wednesday.
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. “
Other equities analysts have also issued reports about the stock. TheStreet lowered shares of Armada Hoffler Properties from a b rating to a c+ rating in a report on Friday, January 5th. Raymond James Financial restated a market perform rating on shares of Armada Hoffler Properties in a research note on Monday, January 8th. Citigroup downgraded shares of Armada Hoffler Properties to a market perform rating in a research note on Monday, January 8th. They noted that the move was a valuation call. Finally, B. Riley restated a buy rating on shares of Armada Hoffler Properties in a research note on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. Armada Hoffler Properties presently has an average rating of Hold and an average price target of $15.20.
Armada Hoffler Properties (NYSE:AHH) last issued its quarterly earnings data on Tuesday, February 6th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.15). The business had revenue of $27.65 million for the quarter, compared to analysts’ expectations of $27.44 million. Armada Hoffler Properties had a net margin of 8.42% and a return on equity of 6.23%. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.25 earnings per share. equities analysts predict that Armada Hoffler Properties will post 1.02 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, April 5th. Shareholders of record on Wednesday, March 28th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 6.12%. This is an increase from Armada Hoffler Properties’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Tuesday, March 27th. Armada Hoffler Properties’s dividend payout ratio (DPR) is 152.00%.
In other news, CEO Louis S. Haddad bought 15,000 shares of the stock in a transaction on Thursday, February 8th. The stock was bought at an average cost of $13.17 per share, for a total transaction of $197,550.00. Following the completion of the purchase, the chief executive officer now directly owns 282,221 shares in the company, valued at $3,716,850.57. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 16.59% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its stake in Armada Hoffler Properties by 3.6% in the fourth quarter. BlackRock Inc. now owns 6,218,046 shares of the real estate investment trust’s stock valued at $96,567,000 after acquiring an additional 213,526 shares in the last quarter. 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 valued at $68,416,000 after acquiring an additional 839,457 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Armada Hoffler Properties by 19.3% in the fourth quarter. Renaissance Technologies LLC now owns 1,965,700 shares of the real estate investment trust’s stock valued at $30,527,000 after acquiring an additional 318,000 shares in the last quarter. 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 valued at $13,888,000 after acquiring an additional 361,582 shares in the last quarter. Finally, Macquarie Group Ltd. acquired a new stake in shares of Armada Hoffler Properties during the fourth quarter worth $14,627,000. Institutional investors own 80.24% 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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