Armada Hoffler Properties, Inc. (AHH) Position Reduced by Prudential Financial Inc.
Prudential Financial Inc. lessened its position in Armada Hoffler Properties, Inc. (NYSE:AHH) by 13.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 222,050 shares of the real estate investment trust’s stock after selling 33,200 shares during the quarter. Prudential Financial Inc. owned about 0.35% of Armada Hoffler Properties worth $3,067,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in AHH. Thrivent Financial For Lutherans bought a new position in Armada Hoffler Properties in the 2nd quarter worth $12,753,000. Vanguard Group Inc. raised its holdings in Armada Hoffler Properties by 18.9% in the 2nd quarter. Vanguard Group Inc. now owns 5,283,105 shares of the real estate investment trust’s stock worth $68,416,000 after acquiring an additional 839,457 shares during the period. Kennedy Capital Management Inc. bought a new position in Armada Hoffler Properties in the 2nd quarter worth $9,746,000. State Street Corp raised its holdings in Armada Hoffler Properties by 50.9% in the 2nd quarter. State Street Corp now owns 1,072,561 shares of the real estate investment trust’s stock worth $13,888,000 after acquiring an additional 361,582 shares during the period. Finally, Alliancebernstein L.P. raised its holdings in Armada Hoffler Properties by 12.7% in the 2nd quarter. Alliancebernstein L.P. now owns 2,757,981 shares of the real estate investment trust’s stock worth $35,716,000 after acquiring an additional 311,360 shares during the period. Hedge funds and other institutional investors own 82.13% of the company’s stock.
Shares of Armada Hoffler Properties, Inc. (AHH) opened at $15.38 on Friday. The company has a quick ratio of 10.44, a current ratio of 10.44 and a debt-to-equity ratio of 1.13. The stock has a market cap of $691.13, a price-to-earnings ratio of 15.23, a price-to-earnings-growth ratio of 4.54 and a beta of 0.57. Armada Hoffler Properties, Inc. has a 12-month low of $12.65 and a 12-month high of $15.62.
Armada Hoffler Properties (NYSE:AHH) last posted its quarterly earnings results on Tuesday, October 31st. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.01. The company had revenue of $27.10 million for the quarter, compared to analyst estimates of $27.06 million. Armada Hoffler Properties had a net margin of 7.78% and a return on equity of 6.36%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the business posted $0.26 EPS. sell-side analysts predict that Armada Hoffler Properties, Inc. will post 0.99 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 4th. Shareholders of record on Wednesday, December 27th will be given a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, December 26th. This represents a $0.76 annualized dividend and a yield of 4.94%. Armada Hoffler Properties’s dividend payout ratio is 152.00%.
In related news, CEO Louis S. Haddad purchased 15,000 shares of the firm’s stock in a transaction on Wednesday, November 8th. The shares were bought at an average cost of $14.92 per share, for a total transaction of $223,800.00. Following the transaction, the chief executive officer now directly owns 267,221 shares of the company’s stock, valued at approximately $3,986,937.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 16.59% of the company’s stock.
Several research analysts recently commented on AHH shares. TheStreet upgraded shares of Armada Hoffler Properties from a “c+” rating to a “b” rating in a report on Tuesday, October 31st. B. Riley reiterated a “buy” rating on shares of Armada Hoffler Properties in a report on Thursday, November 2nd. Zacks Investment Research upgraded shares of Armada Hoffler Properties from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research report on Thursday, November 2nd. Bank of America began coverage on shares of Armada Hoffler Properties in a research report on Wednesday, September 6th. They issued a “buy” rating and a $15.00 price target on the stock. Finally, FBR & Co restated a “buy” rating on shares of Armada Hoffler Properties in a research report on Tuesday, October 3rd. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $15.08.
Armada Hoffler Properties Profile
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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