Principal Financial Group Inc. Decreases Stake in Armada Hoffler Properties Inc (AHH)
Principal Financial Group Inc. lowered its position in shares of Armada Hoffler Properties Inc (NYSE:AHH) by 51.7% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 338,720 shares of the real estate investment trust’s stock after selling 363,136 shares during the quarter. Principal Financial Group Inc. owned about 0.54% of Armada Hoffler Properties worth $4,678,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Armada Hoffler Properties by 18.9% during the 2nd quarter. Vanguard Group Inc. now owns 5,283,105 shares of the real estate investment trust’s stock worth $68,416,000 after purchasing an additional 839,457 shares during the period. Alliancebernstein L.P. grew its holdings in shares of Armada Hoffler Properties by 12.7% during the 2nd quarter. Alliancebernstein L.P. now owns 2,757,981 shares of the real estate investment trust’s stock worth $35,716,000 after purchasing an additional 311,360 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Armada Hoffler Properties by 7.0% during the 2nd quarter. Renaissance Technologies LLC now owns 1,602,000 shares of the real estate investment trust’s stock worth $20,746,000 after purchasing an additional 104,700 shares during the period. State Street Corp grew its holdings in shares of Armada Hoffler Properties by 50.9% during the 2nd quarter. State Street Corp now owns 1,072,561 shares of the real estate investment trust’s stock worth $13,888,000 after purchasing an additional 361,582 shares during the period. Finally, Thrivent Financial For Lutherans purchased a new stake in shares of Armada Hoffler Properties during the 2nd quarter worth about $12,753,000. Institutional investors and hedge funds own 82.12% of the company’s stock.
In other Armada Hoffler Properties news, CEO Louis S. Haddad bought 15,000 shares of the business’s stock in a transaction on Wednesday, November 8th. The shares were bought at an average cost of $14.92 per share, with a total value of $223,800.00. Following the transaction, the chief executive officer now directly owns 267,221 shares in the company, valued at approximately $3,986,937.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 16.59% of the company’s stock.
AHH has been the subject of a number of research reports. BidaskClub cut Armada Hoffler Properties from a “buy” rating to a “hold” rating in a report on Monday, August 14th. Bank of America began coverage on Armada Hoffler Properties in a report on Wednesday, September 6th. They set a “buy” rating and a $15.00 target price for the company. Stifel Nicolaus reissued a “hold” rating and set a $14.00 price target on shares of Armada Hoffler Properties in a research report on Thursday, September 21st. ValuEngine raised Armada Hoffler Properties from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Finally, FBR & Co reissued a “buy” rating on shares of Armada Hoffler Properties in a research report on Tuesday, October 3rd. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Armada Hoffler Properties presently has an average rating of “Buy” and a consensus target price of $15.08.
Armada Hoffler Properties Inc (NYSE:AHH) opened at $15.51 on Friday. The company has a market capitalization of $696.97, a P/E ratio of 15.36, a P/E/G ratio of 4.57 and a beta of 0.58. The company has a current ratio of 10.44, a quick ratio of 10.44 and a debt-to-equity ratio of 1.13. Armada Hoffler Properties Inc has a 52-week low of $12.65 and a 52-week high of $15.72.
Armada Hoffler Properties (NYSE:AHH) last released its quarterly earnings results on Tuesday, October 31st. The real estate investment trust reported $0.25 EPS for the quarter, topping the consensus estimate of $0.24 by $0.01. The firm had revenue of $27.10 million for the quarter, compared to analyst estimates of $27.06 million. Armada Hoffler Properties had a return on equity of 6.36% and a net margin of 7.78%. Armada Hoffler Properties’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.26 EPS. analysts predict that Armada Hoffler Properties Inc will post 0.99 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 4th. Investors of record on Wednesday, December 27th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 4.90%. The ex-dividend date of this dividend is Tuesday, December 26th. Armada Hoffler Properties’s dividend payout ratio (DPR) is presently 152.00%.
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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