Bank of America Corporation initiated coverage on shares of Armada Hoffler Properties, Inc. (NYSE:AHH) in a research note released on Wednesday. The brokerage issued a buy rating and a $15.00 price target on the real estate investment trust’s stock.

A number of other research firms have also weighed in on AHH. Zacks Investment Research lowered shares of Armada Hoffler Properties from a hold rating to a strong sell rating in a research note on Friday, June 16th. Stifel Nicolaus lowered shares of Armada Hoffler Properties from a buy rating to a hold rating and lowered their price objective for the stock from $14.50 to $14.00 in a research note on Thursday, June 22nd. BidaskClub lowered shares of Armada Hoffler Properties from a buy rating to a hold rating in a research note on Monday, August 14th. ValuEngine lowered shares of Armada Hoffler Properties from a buy rating to a hold rating in a research note on Tuesday, June 27th. Finally, Robert W. Baird reaffirmed an outperform rating and issued a $15.00 price objective on shares of Armada Hoffler Properties in a research note on Friday, July 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. Armada Hoffler Properties has a consensus rating of Hold and a consensus target price of $14.93.

Armada Hoffler Properties (NYSE:AHH) opened at 13.61 on Wednesday. The stock has a market capitalization of $854.40 million, a PE ratio of 27.83 and a beta of 0.54. The company’s 50-day moving average is $13.30 and its 200-day moving average is $13.55. Armada Hoffler Properties has a 12 month low of $12.52 and a 12 month high of $14.98.

Armada Hoffler Properties (NYSE:AHH) last released its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.25 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.25. Armada Hoffler Properties had a net margin of 8.04% and a return on equity of 7.02%. The company had revenue of $26.76 million during the quarter, compared to analyst estimates of $27.18 million. During the same period in the prior year, the firm earned $0.26 earnings per share. The firm’s revenue for the quarter was up 10.4% compared to the same quarter last year. Equities research analysts forecast that Armada Hoffler Properties will post $0.41 EPS for the current year.

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The company also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Shareholders of record on Wednesday, September 27th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 5.58%. The ex-dividend date is Tuesday, September 26th. Armada Hoffler Properties’s payout ratio is 158.34%.

In other news, CEO Louis S. Haddad purchased 10,000 shares of the firm’s stock in a transaction on Friday, June 23rd. The stock was acquired at an average cost of $13.39 per share, with a total value of $133,900.00. Following the completion of the transaction, the chief executive officer now owns 252,221 shares in the company, valued at approximately $3,377,239.19. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 20.87% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Armada Hoffler Properties by 18.9% during the second quarter. Vanguard Group Inc. now owns 5,283,105 shares of the real estate investment trust’s stock valued at $68,416,000 after buying an additional 839,457 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of Armada Hoffler Properties by 12.7% during the second quarter. Alliancebernstein L.P. now owns 2,757,981 shares of the real estate investment trust’s stock valued at $35,716,000 after buying an additional 311,360 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Armada Hoffler Properties by 7.0% during the second quarter. Renaissance Technologies LLC now owns 1,602,000 shares of the real estate investment trust’s stock valued at $20,746,000 after buying an additional 104,700 shares during the last quarter. State Street Corp lifted its position in shares of Armada Hoffler Properties by 50.9% during the second quarter. State Street Corp now owns 1,072,561 shares of the real estate investment trust’s stock valued at $13,888,000 after buying an additional 361,582 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Armada Hoffler Properties by 10.1% during the first quarter. Principal Financial Group Inc. now owns 1,003,920 shares of the real estate investment trust’s stock valued at $13,944,000 after buying an additional 92,413 shares during the last quarter. 81.40% of the stock is owned by institutional investors and hedge funds.

About Armada Hoffler Properties

Armada Hoffler Properties, Inc is a real estate company. The Company is engaged in developing, building, owning and managing institutional-grade office, retail and multifamily properties in various markets throughout the Mid-Atlantic and Southeastern United States. In addition to the ownership of its operating property portfolio, the Company develops and builds properties for its own account and through joint ventures between the Company and unaffiliated partners.

Analyst Recommendations for Armada Hoffler Properties (NYSE:AHH)

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