Scotiabank Initiates Coverage on Armada Hoffler Properties (NYSE:AHH)

Scotiabank began coverage on shares of Armada Hoffler Properties (NYSE:AHH) in a research report sent to investors on Tuesday, Marketbeat Ratings reports. The firm issued a sector perform rating and a $11.00 price objective on the real estate investment trust’s stock.

Several other analysts have also recently weighed in on the company. Stifel Nicolaus raised their price target on Armada Hoffler Properties from $12.50 to $12.75 and gave the company a “buy” rating in a report on Tuesday, November 5th. StockNews.com cut Armada Hoffler Properties from a “hold” rating to a “sell” rating in a report on Tuesday, October 22nd.

Armada Hoffler Properties Stock Up 1.1 %

Shares of NYSE AHH opened at $9.69 on Tuesday. Armada Hoffler Properties has a 52 week low of $9.26 and a 52 week high of $12.46. The business has a 50-day simple moving average of $10.32 and a two-hundred day simple moving average of $11.07. The company has a quick ratio of 7.17, a current ratio of 7.17 and a debt-to-equity ratio of 2.00. The company has a market cap of $981.67 million, a P/E ratio of -46.12 and a beta of 1.03.

Armada Hoffler Properties (NYSE:AHH) last released its quarterly earnings results on Monday, November 4th. The real estate investment trust reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.42). Armada Hoffler Properties had a negative net margin of 1.01% and a negative return on equity of 1.18%. The business had revenue of $68.60 million during the quarter, compared to analysts’ expectations of $65.01 million. During the same period in the previous year, the business earned $0.31 EPS. The business’s revenue was up 9.1% on a year-over-year basis. Research analysts anticipate that Armada Hoffler Properties will post 1.27 earnings per share for the current fiscal year.

Armada Hoffler Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Thursday, December 26th were issued a dividend of $0.205 per share. The ex-dividend date was Thursday, December 26th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 8.47%. Armada Hoffler Properties’s dividend payout ratio is -390.46%.

Insider Activity at Armada Hoffler Properties

In related news, Director Dennis H. Gartman purchased 4,500 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were acquired at an average cost of $10.85 per share, with a total value of $48,825.00. Following the purchase, the director now directly owns 31,649 shares of the company’s stock, valued at approximately $343,391.65. This trade represents a 16.58 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 11.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Armada Hoffler Properties

A number of large investors have recently bought and sold shares of the stock. Point72 DIFC Ltd bought a new stake in shares of Armada Hoffler Properties in the 2nd quarter worth approximately $46,000. KBC Group NV boosted its position in shares of Armada Hoffler Properties by 66.0% during the third quarter. KBC Group NV now owns 4,934 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 1,962 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Armada Hoffler Properties during the second quarter valued at approximately $55,000. Quarry LP boosted its position in shares of Armada Hoffler Properties by 446.4% during the second quarter. Quarry LP now owns 5,863 shares of the real estate investment trust’s stock valued at $65,000 after purchasing an additional 4,790 shares in the last quarter. Finally, Versor Investments LP bought a new stake in shares of Armada Hoffler Properties during the third quarter valued at approximately $108,000. 66.35% of the stock is owned by hedge funds and other 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.