DAVENPORT & Co LLC Makes New Investment in Armada Hoffler Properties, Inc. $AHH

DAVENPORT & Co LLC purchased a new stake in shares of Armada Hoffler Properties, Inc. (NYSE:AHH) during the second quarter, Holdings Channel.com reports. The fund purchased 138,500 shares of the real estate investment trust’s stock, valued at approximately $951,000.

A number of other large investors also recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in Armada Hoffler Properties by 464.9% in the 2nd quarter. GAMMA Investing LLC now owns 4,163 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 3,426 shares during the last quarter. Crossingbridge Advisors LLC bought a new position in shares of Armada Hoffler Properties in the first quarter valued at approximately $38,000. Virtu Financial LLC bought a new position in shares of Armada Hoffler Properties in the first quarter valued at approximately $83,000. Magnetar Financial LLC bought a new position in shares of Armada Hoffler Properties in the first quarter valued at approximately $94,000. Finally, Strs Ohio purchased a new position in Armada Hoffler Properties in the first quarter worth $111,000. 66.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AHH. Jefferies Financial Group initiated coverage on Armada Hoffler Properties in a research report on Friday, June 27th. They issued a “buy” rating and a $8.00 price objective on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Armada Hoffler Properties in a research note on Wednesday. Finally, Bank of America decreased their price objective on shares of Armada Hoffler Properties from $7.50 to $7.00 and set an “underperform” rating for the company in a report on Monday, August 25th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Armada Hoffler Properties currently has a consensus rating of “Hold” and a consensus target price of $8.38.

Armada Hoffler Properties Stock Performance

Shares of AHH stock opened at $6.59 on Friday. The stock has a market capitalization of $683.12 million, a P/E ratio of 54.92 and a beta of 1.12. The company has a current ratio of 8.66, a quick ratio of 8.66 and a debt-to-equity ratio of 2.23. The firm’s 50 day moving average is $7.09 and its 200 day moving average is $7.02. Armada Hoffler Properties, Inc. has a 12 month low of $6.10 and a 12 month high of $11.35.

Armada Hoffler Properties (NYSE:AHH) last issued its earnings results on Monday, August 4th. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). Armada Hoffler Properties had a net margin of 4.39% and a return on equity of 3.40%. The business had revenue of $65.15 million for the quarter, compared to the consensus estimate of $63.29 million. Armada Hoffler Properties has set its FY 2025 guidance at 1.000-1.100 EPS. On average, sell-side analysts anticipate that Armada Hoffler Properties, Inc. will post 1.05 earnings per share for the current year.

Armada Hoffler Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Shareholders of record on Wednesday, September 24th were paid a $0.14 dividend. The ex-dividend date was Wednesday, September 24th. This represents a $0.56 annualized dividend and a yield of 8.5%. Armada Hoffler Properties’s dividend payout ratio (DPR) is currently 466.67%.

Armada Hoffler Properties Company Profile

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