Zacks Investment Research Downgrades Armada Hoffler Properties, Inc. (AHH) to Sell

Armada Hoffler Properties, Inc. (NYSE:AHH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

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, Wunderlich lowered shares of Armada Hoffler Properties from a “buy” rating to a “hold” rating and set a $14.50 price target on the stock. in a research report on Wednesday, December 14th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $15.00.

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Shares of Armada Hoffler Properties (NYSE:AHH) opened at 13.75 on Thursday. The firm has a market capitalization of $760.16 million, a PE ratio of 16.18 and a beta of 0.55. Armada Hoffler Properties has a 52-week low of $10.36 and a 52-week high of $15.50. The stock’s 50 day moving average price is $14.13 and its 200-day moving average price is $13.90.

Armada Hoffler Properties (NYSE:AHH) last released its quarterly earnings results on Thursday, February 9th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.07 by $0.02. The business had revenue of $26.52 million for the quarter, compared to analyst estimates of $25.71 million. Armada Hoffler Properties had a net margin of 16.55% and a return on equity of 15.02%. The company’s quarterly revenue was up 21.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.24 earnings per share. Equities research analysts anticipate that Armada Hoffler Properties will post $0.37 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 6th. Stockholders of record on Wednesday, March 29th will be given a $0.19 dividend. The ex-dividend date is Monday, March 27th. This is a positive change from Armada Hoffler Properties’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a dividend yield of 5.55%. Armada Hoffler Properties’s dividend payout ratio is currently 82.76%.

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In other Armada Hoffler Properties news, CEO Louis S. Haddad purchased 15,000 shares of the stock in a transaction dated Monday, February 13th. The shares were acquired at an average cost of $13.81 per share, for a total transaction of $207,150.00. Following the completion of the transaction, the chief executive officer now directly owns 220,868 shares of the company’s stock, valued at $3,050,187.08. The purchase was disclosed in a filing with the SEC, which is available at this link. 20.87% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC increased its position in shares of Armada Hoffler Properties by 19.5% in the fourth quarter. Renaissance Technologies LLC now owns 1,382,200 shares of the company’s stock valued at $20,139,000 after buying an additional 226,000 shares during the last quarter. FMR LLC increased its position in shares of Armada Hoffler Properties by 10.5% in the fourth quarter. FMR LLC now owns 1,884,814 shares of the company’s stock valued at $27,462,000 after buying an additional 179,200 shares during the last quarter. ClariVest Asset Management LLC increased its position in shares of Armada Hoffler Properties by 91.8% in the third quarter. ClariVest Asset Management LLC now owns 342,990 shares of the company’s stock valued at $4,597,000 after buying an additional 164,149 shares during the last quarter. Dana Investment Advisors Inc. purchased a new position in shares of Armada Hoffler Properties during the third quarter valued at about $2,056,000. Finally, TCW Group Inc. purchased a new position in shares of Armada Hoffler Properties during the fourth quarter valued at about $1,828,000. 66.67% of the stock is currently owned by institutional investors and hedge funds.

About Armada Hoffler Properties

Armada Hoffler Properties, Inc is a real estate company engaged in developing, building, owning and managing institutional-grade office, retail and multifamily properties in markets across the Mid-Atlantic United States, including Virginia, Maryland, North Carolina and South Carolina. The Company operates through four segments: office real estate, retail real estate, multifamily residential real estate, and general contracting and real estate services.

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