Vanguard Group Inc. Increases Stake in Armada Hoffler Properties, Inc. (AHH)
Vanguard Group Inc. increased its position in Armada Hoffler Properties, Inc. (NYSE:AHH) by 7.8% during the first quarter, Holdings Channel reports. The institutional investor owned 4,443,648 shares of the real estate investment trust’s stock after buying an additional 322,486 shares during the period. Vanguard Group Inc.’s holdings in Armada Hoffler Properties were worth $61,722,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of AHH. Wilbanks Smith & Thomas Asset Management LLC boosted its stake in Armada Hoffler Properties by 12.5% in the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 252,267 shares of the real estate investment trust’s stock worth $3,504,000 after buying an additional 28,000 shares in the last quarter. Legal & General Group Plc boosted its stake in Armada Hoffler Properties by 12.1% in the first quarter. Legal & General Group Plc now owns 8,958 shares of the real estate investment trust’s stock worth $123,000 after buying an additional 967 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Armada Hoffler Properties by 1,449.1% in the first quarter. PNC Financial Services Group Inc. now owns 127,028 shares of the real estate investment trust’s stock worth $1,765,000 after buying an additional 118,828 shares in the last quarter. Royce & Associates LP bought a new stake in Armada Hoffler Properties during the first quarter worth about $3,473,000. Finally, California Public Employees Retirement System boosted its stake in Armada Hoffler Properties by 0.3% in the first quarter. California Public Employees Retirement System now owns 117,800 shares of the real estate investment trust’s stock worth $1,636,000 after buying an additional 400 shares in the last quarter. Institutional investors own 62.36% of the company’s stock.
Armada Hoffler Properties (NYSE:AHH) last issued its quarterly earnings results 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. The company had revenue of $26.76 million for the quarter, compared to the consensus estimate of $27.18 million. Armada Hoffler Properties had a net margin of 8.04% and a return on equity of 7.02%. The firm’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.26 EPS.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Investors of record on Wednesday, September 27th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 5.63%. The ex-dividend date of this dividend is Tuesday, September 26th. Armada Hoffler Properties’s dividend payout ratio (DPR) is currently 158.34%.
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A number of research firms have recently issued reports on AHH. Zacks Investment Research cut shares of Armada Hoffler Properties from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. BidaskClub upgraded shares of Armada Hoffler Properties from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Robert W. Baird restated an “outperform” rating and set a $15.00 target price on shares of Armada Hoffler Properties in a research note on Friday, July 14th. FBR & Co restated an “outperform” rating and set a $15.00 target price on shares of Armada Hoffler Properties in a research note on Tuesday, July 11th. Finally, ValuEngine cut shares of Armada Hoffler Properties from a “buy” rating to a “hold” rating in a research note on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $14.92.
In related news, CEO Louis S. Haddad purchased 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 23rd. The shares were bought at an average cost of $13.39 per share, with a total value of $133,900.00. Following the acquisition, the chief executive officer now owns 252,221 shares of the company’s stock, valued at $3,377,239.19. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 20.87% of the stock is currently owned by insiders.
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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