Armada Hoffler Properties, Inc. (NYSE:AHRT) Given Average Rating of "Hold" by Brokerages

Key Points

• Analyst sentiment is mixed: Six brokerages assign Armada Hoffler Properties an average “Hold” rating, with two sells, two holds, one buy and one strong buy. The average 12-month price target is $7.38, above the reported share price of $6.67.
• Institutional ownership remains significant: Several investment firms increased their positions, and institutional investors collectively own 66.35% of AHRT’s outstanding stock.
• The company authorized a sizable buyback: Armada Hoffler approved a $100 million share-repurchase program, allowing it to buy back up to 15% of its shares—potentially signaling that management views the stock as undervalued.

Shares of Armada Hoffler Properties, Inc. (NYSE:AHRT - Get Free Report) have been given an average rating of "Hold" by the six ratings firms that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, two have given a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $7.3750.

AHRT has been the subject of several recent research reports. Stifel Nicolaus lowered their price objective on Armada Hoffler Properties from $9.00 to $8.00 and set a "buy" rating for the company in a research report on Tuesday, May 5th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Armada Hoffler Properties in a report on Friday, August 7th. Wall Street Zen raised shares of Armada Hoffler Properties from a "strong sell" rating to a "sell" rating in a research report on Saturday, May 23rd. Finally, Jefferies Financial Group upgraded shares of Armada Hoffler Properties to a "strong-buy" rating in a report on Tuesday, August 18th.

Hedge Funds Weigh In On Armada Hoffler Properties

Institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Armada Hoffler Properties by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,791 shares of the real estate investment trust's stock valued at $351,000 after purchasing an additional 2,015 shares during the period. Daiwa Securities Group Inc. grew its holdings in shares of Armada Hoffler Properties by 7.9% in the second quarter. Daiwa Securities Group Inc. now owns 28,312 shares of the real estate investment trust's stock valued at $195,000 after purchasing an additional 2,082 shares in the last quarter. Amundi raised its position in Armada Hoffler Properties by 5.9% during the first quarter. Amundi now owns 44,107 shares of the real estate investment trust's stock valued at $305,000 after purchasing an additional 2,465 shares during the period. First Trust Advisors LP lifted its stake in shares of Armada Hoffler Properties by 19.9% in the 4th quarter. First Trust Advisors LP now owns 16,806 shares of the real estate investment trust's stock valued at $111,000 after purchasing an additional 2,792 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in shares of Armada Hoffler Properties by 1.7% in the 4th quarter. Janney Montgomery Scott LLC now owns 203,593 shares of the real estate investment trust's stock valued at $1,348,000 after purchasing an additional 3,453 shares during the last quarter. Institutional investors own 66.35% of the company's stock.

Armada Hoffler Properties Price Performance

Shares of NYSE:AHRT opened at $6.67 on Monday. The company has a quick ratio of 3.10, a current ratio of 3.10 and a debt-to-equity ratio of 1.91. The stock has a market cap of $497.52 million, a PE ratio of -10.59 and a beta of 1.07. The company's fifty day moving average is $6.93 and its 200 day moving average is $6.49. Armada Hoffler Properties has a 52 week low of $5.13 and a 52 week high of $7.71.

Armada Hoffler Properties declared that its Board of Directors has initiated a stock repurchase plan on Thursday, May 14th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to reacquire up to 15% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Armada Hoffler Properties Company Profile

Armada Hoffler Properties, Inc is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and development of retail, office and mixed-use properties. The company’s portfolio primarily comprises neighborhood and community shopping centers, urban infill retail sites and select office buildings located in high-growth markets. Armada Hoffler also provides in-house property management and leasing services, leveraging its vertically integrated platform to enhance asset value and tenant satisfaction.

Founded on a legacy of commercial real estate development dating back to the 1970s, Armada Hoffler went public in 2016 through a strategic combination of private real estate entities.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source