Armada Hoffler Properties (NYSE:AHH) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Armada Hoffler Properties (NYSE:AHH) from a buy rating to a hold rating in a research note published on Wednesday, Zacks.com reports.

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. “

Separately, DA Davidson raised shares of Armada Hoffler Properties from a neutral rating to a buy rating and set a $16.00 price objective on the stock in a research report on Tuesday, April 20th.

Shares of NYSE AHH opened at $13.33 on Wednesday. The firm’s 50 day simple moving average is $13.40. Armada Hoffler Properties has a fifty-two week low of $8.20 and a fifty-two week high of $14.38. The company has a market capitalization of $1.08 billion, a P/E ratio of 12.73, a price-to-earnings-growth ratio of 10.57 and a beta of 0.84. The company has a quick ratio of 14.54, a current ratio of 14.55 and a debt-to-equity ratio of 1.73.

Armada Hoffler Properties (NYSE:AHH) last posted its quarterly earnings data on Monday, May 3rd. The real estate investment trust reported $0.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.01). Armada Hoffler Properties had a net margin of 9.04% and a return on equity of 5.80%. The company had revenue of $45.74 million for the quarter, compared to the consensus estimate of $44.99 million. As a group, research analysts forecast that Armada Hoffler Properties will post 1.01 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 8th. Shareholders of record on Wednesday, June 30th were issued a $0.16 dividend. This is a positive change from Armada Hoffler Properties’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Tuesday, June 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.80%. Armada Hoffler Properties’s dividend payout ratio (DPR) is presently 58.18%.

Several large investors have recently made changes to their positions in AHH. North Star Investment Management Corp. bought a new stake in Armada Hoffler Properties in the 2nd quarter worth about $797,000. State of Alaska Department of Revenue boosted its holdings in shares of Armada Hoffler Properties by 6.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 66,698 shares of the real estate investment trust’s stock valued at $885,000 after acquiring an additional 4,319 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Armada Hoffler Properties by 2.3% in the first quarter. Principal Financial Group Inc. now owns 407,542 shares of the real estate investment trust’s stock worth $5,111,000 after acquiring an additional 9,004 shares during the period. Paloma Partners Management Co raised its holdings in shares of Armada Hoffler Properties by 35.7% during the first quarter. Paloma Partners Management Co now owns 16,966 shares of the real estate investment trust’s stock valued at $213,000 after purchasing an additional 4,465 shares during the last quarter. Finally, Millennium Management LLC bought a new position in Armada Hoffler Properties during the first quarter valued at approximately $146,000. 62.68% of the stock is currently owned by hedge funds and other institutional investors.

Armada Hoffler Properties Company Profile

Armada Hoffler Properties, Inc (NYSE: AHH) is a vertically-integrated, self-managed real estate investment trust ("REIT") with four decades of experience developing, building, acquiring, and managing high-quality, institutional-grade office, retail, and multifamily properties located primarily in the Mid-Atlantic and Southeastern United States.

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