Armada Hoffler Properties (NYSE:AHRT) Given New $7.00 Price Target at Scotiabank

Armada Hoffler Properties (NYSE:AHRT) had its price target cut by equities research analysts at Scotiabank from $7.50 to $7.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s target price indicates a potential upside of 23.44% from the company’s current price.

AHRT has been the topic of a number of other reports. UBS Group set a $7.50 target price on Armada Hoffler Properties in a research note on Wednesday, January 14th. Weiss Ratings reissued a “sell (d)” rating on shares of Armada Hoffler Properties in a research note on Monday, December 29th. Stifel Nicolaus decreased their target price on shares of Armada Hoffler Properties from $10.50 to $9.00 and set a “buy” rating for the company in a research report on Tuesday, February 17th. Finally, Zacks Research cut Armada Hoffler Properties from a “hold” rating to a “strong sell” rating in a report on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Armada Hoffler Properties presently has a consensus rating of “Hold” and an average price target of $7.70.

Armada Hoffler Properties Stock Performance

Armada Hoffler Properties stock opened at $5.67 on Tuesday. The firm’s fifty day moving average price is $6.59 and its 200 day moving average price is $6.70. The company has a market capitalization of $587.94 million, a price-to-earnings ratio of -71.06 and a beta of 1.03. Armada Hoffler Properties has a 12-month low of $5.47 and a 12-month high of $7.98. The company has a debt-to-equity ratio of 2.46, a current ratio of 6.15 and a quick ratio of 6.15.

Insider Activity

In other news, Director Frederick Blair Wimbush bought 10,000 shares of the business’s stock in a transaction on Tuesday, March 3rd. The shares were bought at an average cost of $6.19 per share, with a total value of $61,900.00. Following the purchase, the director directly owned 38,685 shares in the company, valued at $239,460.15. This trade represents a 34.86% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 11.90% of the company’s stock.

Hedge Funds Weigh In On Armada Hoffler Properties

Hedge funds and other institutional investors have recently made changes to their positions in the business. Hantz Financial Services Inc. boosted its stake in Armada Hoffler Properties by 99.3% in the third quarter. Hantz Financial Services Inc. now owns 6,367 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 3,173 shares in the last quarter. Danske Bank A S bought a new position in Armada Hoffler Properties during the fourth quarter worth about $45,000. Tower Research Capital LLC TRC grew its position in shares of Armada Hoffler Properties by 172.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,919 shares of the real estate investment trust’s stock worth $54,000 after buying an additional 5,015 shares during the period. Eurizon Capital SGR S.p.A. bought a new stake in shares of Armada Hoffler Properties in the 4th quarter valued at about $68,000. Finally, RPO LLC acquired a new stake in shares of Armada Hoffler Properties in the 4th quarter valued at approximately $68,000. 66.35% of the stock is owned by institutional investors.

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.