Jefferies Financial Group Upgrades Armada Hoffler Properties (NYSE:AHRT) to “Strong-Buy”

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

A number of other research firms also recently weighed in on AHRT. Wall Street Zen raised shares of Armada Hoffler Properties from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 23rd. Stifel Nicolaus cut their price target on shares of Armada Hoffler Properties from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, May 5th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Armada Hoffler Properties in a research note on Friday, August 7th. One equities 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 issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $7.38.

Armada Hoffler Properties Price Performance

Shares of AHRT opened at $6.71 on Tuesday. The company has a quick ratio of 3.10, a current ratio of 3.10 and a debt-to-equity ratio of 1.91. Armada Hoffler Properties has a twelve month low of $5.13 and a twelve month high of $7.71. The stock has a market capitalization of $500.89 million, a P/E ratio of -10.66 and a beta of 1.07. The company has a 50 day moving average of $6.94 and a 200-day moving average of $6.50.

Armada Hoffler Properties announced that its board has initiated a share buyback plan on Thursday, May 14th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the real estate investment trust to repurchase up to 15% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Verition Fund Management LLC grew its stake in Armada Hoffler Properties by 1,030.1% in the 3rd quarter. Verition Fund Management LLC now owns 827,964 shares of the real estate investment trust’s stock valued at $5,804,000 after buying an additional 754,701 shares during the last quarter. Ameriprise Financial Inc. lifted its position in Armada Hoffler Properties by 310.4% during the third quarter. Ameriprise Financial Inc. now owns 980,456 shares of the real estate investment trust’s stock worth $6,883,000 after acquiring an additional 741,530 shares during the last quarter. Qube Research & Technologies Ltd lifted its position in Armada Hoffler Properties by 46.8% during the second quarter. Qube Research & Technologies Ltd now owns 1,557,017 shares of the real estate investment trust’s stock worth $10,697,000 after acquiring an additional 496,620 shares during the last quarter. UBS Group AG boosted its holdings in shares of Armada Hoffler Properties by 266.3% during the third quarter. UBS Group AG now owns 467,830 shares of the real estate investment trust’s stock worth $3,279,000 after acquiring an additional 340,116 shares during the period. Finally, Jane Street Group LLC boosted its holdings in shares of Armada Hoffler Properties by 434.6% during the second quarter. Jane Street Group LLC now owns 384,421 shares of the real estate investment trust’s stock worth $2,641,000 after acquiring an additional 312,516 shares during the period. 66.35% of the stock is owned by institutional investors and hedge funds.

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.