Armada Hoffler Properties (NYSE:AHRT) Stock Crosses Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Armada Hoffler Properties shares crossed above their 200-day moving average, reaching $6.82 and closing near $6.8050, compared with the $6.50 average.
• Analyst sentiment remains mixed, with the stock holding an overall “Hold” rating and an average price target of $7.38; targets and ratings ranged from Buy to Sell.
• The company authorized a $100 million share-repurchase program, allowing it to buy back up to 15% of outstanding shares, while institutional investors own 66.35% of the stock.

Armada Hoffler Properties, Inc. (NYSE:AHRT - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $6.50 and traded as high as $6.82. Armada Hoffler Properties shares last traded at $6.8050, with a volume of 637,320 shares traded.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Wall Street Zen raised shares of Armada Hoffler Properties from a "strong sell" rating to a "sell" rating in a research note on Saturday, May 23rd. Stifel Nicolaus decreased their price target on shares of Armada Hoffler Properties from $9.00 to $8.00 and set a "buy" rating on the stock in a research note on Tuesday, May 5th. Zacks Research raised shares of Armada Hoffler Properties from a "strong sell" rating to a "hold" rating in a report on Friday, April 17th. Finally, Weiss Ratings restated a "sell (d+)" rating on shares of Armada Hoffler Properties in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $7.38.

Armada Hoffler Properties Trading Up 1.3%

The business's 50 day simple moving average is $6.94 and its 200-day simple moving average is $6.50. The company has a debt-to-equity ratio of 1.91, a current ratio of 3.10 and a quick ratio of 3.10. The stock has a market capitalization of $685.33 million, a P/E ratio of -10.80 and a beta of 1.07.

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

Institutional Investors Weigh In On Armada Hoffler Properties

Institutional investors have recently added to or reduced their stakes in the stock. Danske Bank A S bought a new position in Armada Hoffler Properties in the 4th quarter valued at approximately $45,000. Tower Research Capital LLC TRC boosted its stake in Armada Hoffler Properties by 172.7% during the second quarter. Tower Research Capital LLC TRC now owns 7,919 shares of the real estate investment trust's stock valued at $54,000 after buying an additional 5,015 shares during the period. Eurizon Capital SGR S.p.A. bought a new stake in shares of Armada Hoffler Properties during the 4th quarter worth $68,000. RPO LLC purchased a new position in shares of Armada Hoffler Properties in the 4th quarter worth about $68,000. Finally, Murphy Pohlad Asset Management LLC purchased a new position in shares of Armada Hoffler Properties during the fourth quarter worth approximately $73,000. 66.35% of the stock is owned by institutional investors.

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