Jennison Associates LLC Takes $647,000 Position in Armada Hoffler Properties, Inc. (NYSE:AHH)

Jennison Associates LLC bought a new position in Armada Hoffler Properties, Inc. (NYSE:AHH - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 86,117 shares of the real estate investment trust's stock, valued at approximately $647,000. Jennison Associates LLC owned 0.08% of Armada Hoffler Properties at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Victory Capital Management Inc. lifted its stake in Armada Hoffler Properties by 9.3% in the fourth quarter. Victory Capital Management Inc. now owns 13,923 shares of the real estate investment trust's stock valued at $142,000 after buying an additional 1,190 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in Armada Hoffler Properties in the fourth quarter valued at $202,000. Raymond James Financial Inc. bought a new stake in Armada Hoffler Properties in the fourth quarter valued at $2,239,000. Swiss National Bank raised its stake in Armada Hoffler Properties by 2.2% during the 4th quarter. Swiss National Bank now owns 156,784 shares of the real estate investment trust's stock valued at $1,604,000 after acquiring an additional 3,300 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in Armada Hoffler Properties by 15.6% during the 4th quarter. Thrivent Financial for Lutherans now owns 61,599 shares of the real estate investment trust's stock valued at $630,000 after acquiring an additional 8,299 shares in the last quarter. 66.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AHH. Jefferies Financial Group began coverage on Armada Hoffler Properties in a research note on Friday, June 27th. They set a "buy" rating and a $8.00 target price on the stock. Scotiabank cut their target price on Armada Hoffler Properties from $10.00 to $8.00 and set a "sector perform" rating on the stock in a research note on Wednesday, April 16th. Finally, Stifel Nicolaus cut their target price on Armada Hoffler Properties from $12.25 to $10.50 and set a "buy" rating on the stock in a research note on Thursday, May 8th.

Armada Hoffler Properties Price Performance

Shares of AHH traded up $0.02 during midday trading on Thursday, reaching $7.11. The stock had a trading volume of 286,874 shares, compared to its average volume of 968,073. Armada Hoffler Properties, Inc. has a 52 week low of $6.10 and a 52 week high of $12.46. The company has a debt-to-equity ratio of 2.03, a current ratio of 12.47 and a quick ratio of 12.47. The firm's 50 day moving average price is $7.04 and its 200-day moving average price is $7.86. The company has a market capitalization of $719.88 million, a P/E ratio of 88.82 and a beta of 1.10.

Armada Hoffler Properties (NYSE:AHH - Get Free Report) last announced its earnings results on Wednesday, May 7th. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.26 by ($0.01). The company had revenue of $63.80 million for the quarter, compared to analyst estimates of $63.18 million. Armada Hoffler Properties had a return on equity of 2.98% and a net margin of 3.24%. On average, analysts forecast that Armada Hoffler Properties, Inc. will post 1.05 earnings per share for the current fiscal year.

Armada Hoffler Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 8th. Stockholders of record on Monday, June 30th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 7.88%. The ex-dividend date of this dividend was Monday, June 30th. Armada Hoffler Properties's dividend payout ratio (DPR) is presently 700.00%.

About Armada Hoffler Properties

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.