Zacks Investment Research Lowers Armada Hoffler Properties (AHH) to Sell
Zacks Investment Research lowered shares of Armada Hoffler Properties (NYSE:AHH) from a hold rating to a sell rating in a research report sent to investors 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. “
AHH has been the topic of several other reports. Citigroup downgraded 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. Raymond James Financial restated a market perform rating on shares of Armada Hoffler Properties in a research note on Monday, January 8th. TheStreet downgraded Armada Hoffler Properties from a b rating to a c+ rating in a research note on Friday, January 5th. Finally, B. Riley restated a buy rating on shares of Armada Hoffler Properties in a research note on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $15.20.
Armada Hoffler Properties (NYSE:AHH) last announced its earnings results on Tuesday, February 6th. The real estate investment trust reported $0.09 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.15). Armada Hoffler Properties had a return on equity of 6.23% and a net margin of 8.42%. The business had revenue of $27.65 million for the quarter, compared to analysts’ expectations of $27.44 million. During the same quarter last year, the firm earned $0.25 earnings per share. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. analysts predict that Armada Hoffler Properties will post 1.02 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 5th. Shareholders of record on Wednesday, March 28th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, March 27th. This represents a $0.80 dividend on an annualized basis and a yield of 5.99%. This is a boost from Armada Hoffler Properties’s previous quarterly dividend of $0.19. Armada Hoffler Properties’s payout ratio is currently 152.00%.
In other news, CEO Louis S. Haddad purchased 15,000 shares of the stock in a transaction on Thursday, February 8th. The stock was bought at an average price of $13.17 per share, with a total value of $197,550.00. Following the transaction, the chief executive officer now owns 282,221 shares in the company, valued at approximately $3,716,850.57. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 16.59% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. MetLife Investment Advisors LLC acquired a new stake in Armada Hoffler Properties during the 4th quarter worth about $305,000. Macquarie Group Ltd. acquired a new stake in Armada Hoffler Properties during the 4th quarter worth about $14,627,000. Millennium Management LLC acquired a new stake in Armada Hoffler Properties during the 4th quarter worth about $1,523,000. Two Sigma Advisers LP lifted its position in Armada Hoffler Properties by 31.9% during the 4th quarter. Two Sigma Advisers LP now owns 112,342 shares of the real estate investment trust’s stock worth $1,745,000 after acquiring an additional 27,200 shares during the period. Finally, Deutsche Bank AG lifted its position in Armada Hoffler Properties by 183.9% during the 4th quarter. Deutsche Bank AG now owns 158,402 shares of the real estate investment trust’s stock worth $2,456,000 after acquiring an additional 102,598 shares during the period. 80.24% of the stock is owned by institutional investors.
Armada Hoffler Properties Company 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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