Armada Hoffler Properties (AHH) Stock Rating Upgraded by Zacks Investment Research
Armada Hoffler Properties (NYSE:AHH) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.
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. “
Several other research firms have also recently commented on AHH. Raymond James Financial reiterated a “market perform” rating on shares of Armada Hoffler Properties in a research note on Monday, January 8th. Citigroup cut Armada Hoffler Properties to a “market perform” rating in a research note on Monday, January 8th. They noted that the move was a valuation call. Finally, TheStreet cut Armada Hoffler Properties from a “b” rating to a “c+” rating in a research note on Friday, January 5th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $15.20.
Armada Hoffler Properties (NYSE:AHH) last released its quarterly earnings results on Tuesday, February 6th. The real estate investment trust reported $0.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.15). Armada Hoffler Properties had a return on equity of 6.23% and a net margin of 8.42%. The business had revenue of $27.65 million during the quarter, compared to analyst estimates of $27.44 million. During the same quarter last year, the firm posted $0.25 EPS. The company’s revenue was up 4.3% compared to the same quarter last year. analysts forecast that Armada Hoffler Properties will post 1.02 EPS for the current year.
In other news, CEO Louis S. Haddad acquired 15,000 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were purchased at an average price of $13.17 per share, for a total transaction of $197,550.00. Following the completion of the purchase, the chief executive officer now directly owns 282,221 shares of the company’s stock, valued at approximately $3,716,850.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 16.59% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. raised its stake in Armada Hoffler Properties by 3.6% during the fourth quarter. BlackRock Inc. now owns 6,218,046 shares of the real estate investment trust’s stock valued at $96,567,000 after buying an additional 213,526 shares in the last quarter. Renaissance Technologies LLC raised its stake in Armada Hoffler Properties by 19.3% during the fourth quarter. Renaissance Technologies LLC now owns 1,965,700 shares of the real estate investment trust’s stock valued at $30,527,000 after buying an additional 318,000 shares in the last quarter. State Street Corp raised its stake in 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 in the last quarter. Macquarie Group Ltd. acquired a new stake in Armada Hoffler Properties during the fourth quarter valued at approximately $14,627,000. Finally, American Century Companies Inc. raised its position in shares of Armada Hoffler Properties by 3.1% during the 3rd quarter. American Century Companies Inc. now owns 897,808 shares of the real estate investment trust’s stock worth $12,399,000 after purchasing an additional 26,593 shares during the period. Hedge funds and other institutional investors own 80.22% of the company’s stock.
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.
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