Armada Hoffler Properties (NYSE:AHRT) Shares Cross Above 200 Day Moving Average – Here’s Why

Shares of Armada Hoffler Properties, Inc. (NYSE:AHRT) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.46 and traded as high as $6.65. Armada Hoffler Properties shares last traded at $6.63, with a volume of 457,641 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AHRT. Wall Street Zen raised Armada Hoffler Properties from a “strong sell” rating to a “sell” rating in a report on Saturday, May 23rd. Jefferies Financial Group raised shares of Armada Hoffler Properties to a “strong-buy” rating in a report on Tuesday, August 18th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Armada Hoffler Properties in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $7.50.

Armada Hoffler Properties Stock Down 1.6%

The firm’s fifty day moving average price is $6.87 and its 200-day moving average price is $6.47. The company has a debt-to-equity ratio of 1.91, a current ratio of 3.10 and a quick ratio of 3.10. The firm has a market capitalization of $485.21 million, a P/E ratio of -10.33 and a beta of 1.05.

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

Institutional Trading of Armada Hoffler Properties

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC lifted its holdings in shares of Armada Hoffler Properties by 172.7% in the second quarter. Tower Research Capital LLC TRC now owns 7,919 shares of the real estate investment trust’s stock valued at $54,000 after buying an additional 5,015 shares during the period. RPO LLC acquired a new position in Armada Hoffler Properties during the fourth quarter worth about $68,000. Eurizon Capital SGR S.p.A. bought a new stake in Armada Hoffler Properties in the fourth quarter worth about $68,000. Murphy Pohlad Asset Management LLC acquired a new stake in Armada Hoffler Properties in the 4th quarter valued at about $73,000. Finally, M&T Bank Corp bought a new position in shares of Armada Hoffler Properties during the 4th quarter valued at about $75,000. Institutional investors own 66.35% of the company’s stock.

Armada Hoffler Properties Company Profile

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.