Armada Hoffler Properties (NYSE:AHH) Shares Gap Down – Here’s Why

Shares of Armada Hoffler Properties, Inc. (NYSE:AHH) gapped down before the market opened on Thursday . The stock had previously closed at $8.70, but opened at $8.35. Armada Hoffler Properties shares last traded at $8.00, with a volume of 279,271 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Scotiabank dropped their price target on shares of Armada Hoffler Properties from $11.00 to $10.00 and set a “sector perform” rating on the stock in a research report on Friday, February 28th.

Armada Hoffler Properties Trading Down 1.4 %

The company’s 50 day moving average price is $9.39 and its two-hundred day moving average price is $10.52. The company has a debt-to-equity ratio of 1.56, a current ratio of 8.81 and a quick ratio of 7.17. The stock has a market capitalization of $768.61 million, a PE ratio of 23.71 and a beta of 1.04.

Armada Hoffler Properties (NYSE:AHH) last posted its quarterly earnings results on Wednesday, February 19th. The real estate investment trust reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.21. The firm had revenue of $62.95 million for the quarter, compared to the consensus estimate of $66.67 million. Armada Hoffler Properties had a net margin of 5.99% and a return on equity of 5.96%. As a group, analysts expect that Armada Hoffler Properties, Inc. will post 1.05 earnings per share for the current year.

Armada Hoffler Properties Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, March 26th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 7.38%. The ex-dividend date of this dividend is Wednesday, March 26th. Armada Hoffler Properties’s dividend payout ratio is currently 256.25%.

Hedge Funds Weigh In On Armada Hoffler Properties

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Armada Hoffler Properties by 9.5% during the fourth quarter. Vanguard Group Inc. now owns 9,516,800 shares of the real estate investment trust’s stock worth $97,357,000 after purchasing an additional 829,392 shares during the period. FMR LLC increased its position in shares of Armada Hoffler Properties by 6.4% during the third quarter. FMR LLC now owns 2,337,275 shares of the real estate investment trust’s stock valued at $25,313,000 after acquiring an additional 140,964 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Armada Hoffler Properties by 9.0% during the fourth quarter. Franklin Resources Inc. now owns 2,105,812 shares of the real estate investment trust’s stock valued at $21,542,000 after acquiring an additional 173,149 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Armada Hoffler Properties by 15.3% during the fourth quarter. Geode Capital Management LLC now owns 2,035,178 shares of the real estate investment trust’s stock valued at $20,824,000 after acquiring an additional 269,367 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its holdings in shares of Armada Hoffler Properties by 118.4% in the fourth quarter. Nuveen Asset Management LLC now owns 1,315,020 shares of the real estate investment trust’s stock valued at $13,453,000 after purchasing an additional 713,010 shares in the last quarter. 66.35% of the stock is owned by hedge funds and other institutional investors.

Armada Hoffler Properties Company Profile

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.