Armada Hoffler Properties (NYSE:AHRT) Stock Passes Above 200-Day Moving Average – Here’s What Happened

Armada Hoffler Properties, Inc. (NYSE:AHRT) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.50 and traded as high as $6.82. Armada Hoffler Properties shares last traded at $6.8050, with a volume of 637,320 shares.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Zacks Research raised shares of Armada Hoffler Properties from a “strong sell” rating to a “hold” rating in a research note on Friday, April 17th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Armada Hoffler Properties in a report on Friday, August 7th. Wall Street Zen raised Armada Hoffler Properties from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 23rd. Finally, Stifel Nicolaus lowered their price target on shares of 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 equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Armada Hoffler Properties currently has an average rating of “Hold” and an average target price of $7.38.

Armada Hoffler Properties Price Performance

The company has a 50-day moving average of $6.94 and a two-hundred day moving average of $6.50. The company has a debt-to-equity ratio of 1.91, a current ratio of 3.10 and a quick ratio of 3.10. The stock has a market capitalization of $505.79 million, a PE ratio of -10.76 and a beta of 1.07.

Armada Hoffler Properties declared that its Board of Directors has authorized a share buyback plan on Thursday, May 14th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to buy up to 15% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in AHRT. Verition Fund Management LLC grew its position in Armada Hoffler Properties by 1,030.1% during the third quarter. Verition Fund Management LLC now owns 827,964 shares of the real estate investment trust’s stock valued at $5,804,000 after acquiring an additional 754,701 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Armada Hoffler Properties by 310.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 980,456 shares of the real estate investment trust’s stock worth $6,883,000 after purchasing an additional 741,530 shares during the period. Qube Research & Technologies Ltd lifted its stake in shares of Armada Hoffler Properties by 46.8% in the 2nd quarter. Qube Research & Technologies Ltd now owns 1,557,017 shares of the real estate investment trust’s stock valued at $10,697,000 after purchasing an additional 496,620 shares in the last quarter. UBS Group AG lifted its stake in shares of Armada Hoffler Properties by 266.3% in the 3rd quarter. UBS Group AG now owns 467,830 shares of the real estate investment trust’s stock valued at $3,279,000 after purchasing an additional 340,116 shares in the last quarter. Finally, Jane Street Group LLC grew its holdings in shares of Armada Hoffler Properties by 434.6% during the 2nd quarter. Jane Street Group LLC now owns 384,421 shares of the real estate investment trust’s stock worth $2,641,000 after purchasing an additional 312,516 shares during the period. 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.