Bank of New York Mellon Corp Sells 38,265 Shares of Armada Hoffler Properties, Inc. (NYSE:AHH)

Key Points

• Bank of New York Mellon Corp has decreased its holdings in Armada Hoffler Properties by 5.6%, now owning approximately 0.63% of the company, valued at $4,820,000.
• A number of institutional investors, including Principal Financial Group Inc. and TT Capital Management LLC, have either raised or modified their holdings in Armada Hoffler Properties during the first quarter of 2023.
• The company recently declared a quarterly dividend of $0.14 per share, representing an annualized dividend yield of 7.95%, although it has a high dividend payout ratio of 700.00%.

Bank of New York Mellon Corp lessened its stake in Armada Hoffler Properties, Inc. (NYSE:AHH - Free Report) by 5.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 641,781 shares of the real estate investment trust's stock after selling 38,265 shares during the period. Bank of New York Mellon Corp owned about 0.63% of Armada Hoffler Properties worth $4,820,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in AHH. Cambridge Investment Research Advisors Inc. lifted its stake in Armada Hoffler Properties by 61.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 21,036 shares of the real estate investment trust's stock worth $158,000 after purchasing an additional 7,985 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Armada Hoffler Properties by 23.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,776 shares of the real estate investment trust's stock worth $458,000 after purchasing an additional 8,372 shares during the period. Raymond James Financial Inc. bought a new position in Armada Hoffler Properties during the fourth quarter worth about $2,239,000. Sei Investments Co. lifted its stake in Armada Hoffler Properties by 8.2% during the fourth quarter. Sei Investments Co. now owns 331,882 shares of the real estate investment trust's stock worth $3,395,000 after purchasing an additional 25,247 shares during the period. Finally, Cerity Partners LLC lifted its stake in Armada Hoffler Properties by 329.8% during the fourth quarter. Cerity Partners LLC now owns 59,159 shares of the real estate investment trust's stock worth $610,000 after purchasing an additional 45,395 shares during the period. Institutional investors own 66.35% of the company's stock.

Armada Hoffler Properties Price Performance

Shares of Armada Hoffler Properties stock traded up $0.06 during midday trading on Tuesday, reaching $7.01. The company had a trading volume of 118,182 shares, compared to its average volume of 958,052. The company has a current ratio of 12.47, a quick ratio of 12.47 and a debt-to-equity ratio of 2.03. The company has a market capitalization of $709.75 million, a price-to-earnings ratio of 87.62 and a beta of 1.10. The stock has a fifty day simple moving average of $7.01 and a 200 day simple moving average of $7.76. Armada Hoffler Properties, Inc. has a 1-year low of $6.10 and a 1-year high of $12.46.

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

Armada Hoffler Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 8th. Investors of record on Monday, June 30th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 7.99%. The ex-dividend date was Monday, June 30th. Armada Hoffler Properties's dividend payout ratio is currently 700.00%.

Analyst Ratings Changes

Several analysts have recently weighed in on AHH shares. Stifel Nicolaus dropped their price objective on shares of Armada Hoffler Properties from $12.25 to $10.50 and set a "buy" rating for the company in a report on Thursday, May 8th. Scotiabank dropped their price objective on shares of Armada Hoffler Properties from $10.00 to $8.00 and set a "sector perform" rating for the company in a report on Wednesday, April 16th. Finally, Jefferies Financial Group started coverage on shares of Armada Hoffler Properties in a report on Friday, June 27th. They set a "buy" rating and a $8.00 price objective for the company.

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.