Armada Hoffler Properties (NYSE:AHH) Price Target Cut to $10.00 by Analysts at Scotiabank

Armada Hoffler Properties (NYSE:AHH) had its price objective reduced by Scotiabank from $11.00 to $10.00 in a report published on Friday morning,Benzinga reports. Scotiabank currently has a sector perform rating on the real estate investment trust’s stock.

Separately, Stifel Nicolaus lifted their target price on shares of Armada Hoffler Properties from $12.50 to $12.75 and gave the company a “buy” rating in a research note on Tuesday, November 5th.

Armada Hoffler Properties Stock Up 0.2 %

AHH opened at $9.18 on Friday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 7.17 and a current ratio of 8.81. Armada Hoffler Properties has a fifty-two week low of $8.76 and a fifty-two week high of $12.46. The firm’s fifty day moving average is $9.70 and its 200 day moving average is $10.73. The stock has a market cap of $929.98 million, a price-to-earnings ratio of 28.67 and a beta of 1.03.

Armada Hoffler Properties (NYSE:AHH) last released its earnings results on Wednesday, February 19th. The real estate investment trust reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.21. Armada Hoffler Properties had a net margin of 5.99% and a return on equity of 5.96%. The company had revenue of $62.95 million for the quarter, compared to analysts’ expectations of $66.67 million. On average, sell-side analysts forecast that Armada Hoffler Properties will post 1.05 earnings per share for the current fiscal year.

Armada Hoffler Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Thursday, December 26th were issued a $0.205 dividend. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $0.82 dividend on an annualized basis and a yield of 8.94%. Armada Hoffler Properties’s dividend payout ratio is currently 256.25%.

Insider Buying and Selling at Armada Hoffler Properties

In related news, Director Dennis H. Gartman purchased 4,500 shares of Armada Hoffler Properties stock in a transaction on Wednesday, December 11th. The shares were bought at an average cost of $10.85 per share, for a total transaction of $48,825.00. Following the acquisition, the director now owns 31,649 shares in the company, valued at approximately $343,391.65. The trade was a 16.58 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 11.90% of the stock is currently owned by insiders.

Institutional Trading of Armada Hoffler Properties

A number of institutional investors and hedge funds have recently bought and sold shares of AHH. abrdn plc increased its holdings in Armada Hoffler Properties by 10.5% in the 3rd quarter. abrdn plc now owns 13,856 shares of the real estate investment trust’s stock valued at $150,000 after acquiring an additional 1,322 shares during the last quarter. New York State Teachers Retirement System increased its holdings in shares of Armada Hoffler Properties by 6.0% in the 3rd quarter. New York State Teachers Retirement System now owns 94,895 shares of the real estate investment trust’s stock worth $1,028,000 after buying an additional 5,408 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Armada Hoffler Properties by 12.3% in the 3rd quarter. Van ECK Associates Corp now owns 11,403 shares of the real estate investment trust’s stock worth $126,000 after buying an additional 1,251 shares during the last quarter. Asset Management One Co. Ltd. increased its holdings in shares of Armada Hoffler Properties by 1.7% in the 3rd quarter. Asset Management One Co. Ltd. now owns 97,243 shares of the real estate investment trust’s stock worth $1,053,000 after buying an additional 1,642 shares during the last quarter. Finally, M&G PLC bought a new stake in shares of Armada Hoffler Properties in the 3rd quarter worth about $188,000. 66.35% of the stock is currently owned by institutional investors.

About Armada Hoffler Properties

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.