Armada Hoffler Properties (NYSE:AHRT) Upgraded by Jefferies Financial Group to Strong-Buy Rating

Jefferies Financial Group upgraded shares of Armada Hoffler Properties (NYSE:AHRT) to a strong-buy rating in a research report report published on Tuesday morning,Zacks.com reports.

Several other equities research analysts also recently weighed in on the company. Wall Street Zen raised Armada Hoffler Properties from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 23rd. Weiss Ratings reiterated a “sell (d+)” rating on shares of Armada Hoffler Properties in a report on Friday, August 7th. Finally, Stifel Nicolaus reduced their price target on Armada Hoffler Properties from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $7.38.

Armada Hoffler Properties Stock Up 0.8%

Shares of NYSE AHRT opened at $6.71 on Tuesday. Armada Hoffler Properties has a 12-month low of $5.13 and a 12-month high of $7.71. The company has a market cap of $500.89 million, a P/E ratio of -10.66 and a beta of 1.07. The company has a current ratio of 3.10, a quick ratio of 3.10 and a debt-to-equity ratio of 1.91. The stock has a fifty day moving average price of $6.94 and a 200 day moving average price of $6.50.

Armada Hoffler Properties announced that its board has initiated a stock buyback program on Thursday, May 14th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to buy up to 15% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Armada Hoffler Properties

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AHRT. Hantz Financial Services Inc. increased its holdings in Armada Hoffler Properties by 206.3% during the 4th quarter. Hantz Financial Services Inc. now owns 19,501 shares of the real estate investment trust’s stock worth $129,000 after purchasing an additional 13,134 shares during the last quarter. Versor Investments LP raised its position in shares of Armada Hoffler Properties by 4.5% in the 4th quarter. Versor Investments LP now owns 86,300 shares of the real estate investment trust’s stock valued at $571,000 after purchasing an additional 3,700 shares in the last quarter. Swiss Life Asset Management Ltd purchased a new position in shares of Armada Hoffler Properties during the 4th quarter valued at approximately $163,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Armada Hoffler Properties by 15.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 66,205 shares of the real estate investment trust’s stock valued at $440,000 after buying an additional 8,972 shares during the last quarter. Finally, M&T Bank Corp acquired a new stake in shares of Armada Hoffler Properties during the fourth quarter worth approximately $75,000. 66.35% of the stock is owned by hedge funds and other institutional investors.

About Armada Hoffler Properties

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.