Rhumbline Advisers raised its holdings in Armada Hoffler Properties, Inc. (NYSE:AHH) by 2.3% in the first quarter, Holdings Channel.com reports. The fund owned 209,048 shares of the real estate investment trust’s stock after buying an additional 4,784 shares during the quarter. Rhumbline Advisers’ holdings in Armada Hoffler Properties were worth $2,621,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in Armada Hoffler Properties by 2.0% in the fourth quarter. BlackRock Inc. now owns 11,086,744 shares of the real estate investment trust’s stock valued at $124,393,000 after acquiring an additional 220,206 shares during the period. Alliancebernstein L.P. increased its position in shares of Armada Hoffler Properties by 1.4% in the fourth quarter. Alliancebernstein L.P. now owns 3,686,720 shares of the real estate investment trust’s stock valued at $41,365,000 after buying an additional 52,611 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Armada Hoffler Properties by 11.3% in the fourth quarter. JPMorgan Chase & Co. now owns 1,053,762 shares of the real estate investment trust’s stock valued at $11,823,000 after buying an additional 107,067 shares in the last quarter. Royce & Associates LP increased its position in shares of Armada Hoffler Properties by 39.7% in the fourth quarter. Royce & Associates LP now owns 940,333 shares of the real estate investment trust’s stock valued at $10,551,000 after buying an additional 267,145 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Armada Hoffler Properties by 4.7% in the fourth quarter. Bank of New York Mellon Corp now owns 825,773 shares of the real estate investment trust’s stock valued at $9,266,000 after buying an additional 36,954 shares in the last quarter. 62.71% of the stock is owned by institutional investors.
Armada Hoffler Properties stock opened at $13.74 on Friday. The stock has a market cap of $1.12 billion, a PE ratio of 44.32 and a beta of 0.82. The stock’s 50-day moving average is $13.30. Armada Hoffler Properties, Inc. has a 52 week low of $8.20 and a 52 week high of $14.38. The company has a current ratio of 14.55, a quick ratio of 14.54 and a debt-to-equity ratio of 1.73.
Armada Hoffler Properties (NYSE:AHH) last posted its quarterly earnings results on Monday, May 3rd. The real estate investment trust reported $0.08 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.01). The business had revenue of $45.74 million during the quarter, compared to analysts’ expectations of $44.99 million. Armada Hoffler Properties had a net margin of 9.04% and a return on equity of 5.80%. Equities research analysts predict that Armada Hoffler Properties, Inc. will post 1.02 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 8th. Shareholders of record on Wednesday, June 30th will be issued a $0.16 dividend. This is a boost from Armada Hoffler Properties’s previous quarterly dividend of $0.15. The ex-dividend date is Tuesday, June 29th. This represents a $0.64 annualized dividend and a yield of 4.66%. Armada Hoffler Properties’s payout ratio is 54.55%.
A number of brokerages have recently weighed in on AHH. Zacks Investment Research upgraded Armada Hoffler Properties from a “sell” rating to a “hold” rating in a research report on Friday, May 28th. DA Davidson upgraded Armada Hoffler Properties from a “neutral” rating to a “buy” rating and set a $16.00 price target for the company in a research report on Tuesday, April 20th.
About Armada Hoffler Properties
Armada Hoffler Properties, Inc (NYSE: AHH) is a vertically-integrated, self-managed real estate investment trust ("REIT") with four decades of experience developing, building, acquiring, and managing high-quality, institutional-grade office, retail, and multifamily properties located primarily in the Mid-Atlantic and Southeastern United States.
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