DAVENPORT & Co LLC Makes New Investment in Armada Hoffler Properties, Inc. $AHH

Key Points

• DAVENPORT & Co LLC acquired 138,500 shares of Armada Hoffler Properties, valued at approximately $951,000, representing about 0.14% ownership in the company.
• Armada Hoffler Properties reported earnings per share of $0.25 for the quarter, which fell short of the consensus estimate of $0.26, while generating revenue of $65.15 million.
• The company announced a quarterly dividend of $0.14, yielding 8.5%, with a significant dividend payout ratio of 466.67%.

DAVENPORT & Co LLC acquired a new position in shares of Armada Hoffler Properties, Inc. (NYSE:AHH - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 138,500 shares of the real estate investment trust's stock, valued at approximately $951,000. DAVENPORT & Co LLC owned about 0.14% of Armada Hoffler Properties at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. GAMMA Investing LLC increased its position in Armada Hoffler Properties by 250.1% during the 1st quarter. GAMMA Investing LLC now owns 5,535 shares of the real estate investment trust's stock valued at $420,000 after purchasing an additional 3,954 shares during the period. Albert D Mason Inc. boosted its stake in shares of Armada Hoffler Properties by 16.4% in the 1st quarter. Albert D Mason Inc. now owns 211,766 shares of the real estate investment trust's stock valued at $1,590,000 after purchasing an additional 29,792 shares during the last quarter. Sound Income Strategies LLC boosted its stake in shares of Armada Hoffler Properties by 58.3% in the 1st quarter. Sound Income Strategies LLC now owns 1,400,581 shares of the real estate investment trust's stock valued at $10,518,000 after purchasing an additional 515,999 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in shares of Armada Hoffler Properties in the 1st quarter valued at $672,000. Finally, Janney Montgomery Scott LLC lifted its holdings in Armada Hoffler Properties by 7.6% in the first quarter. Janney Montgomery Scott LLC now owns 139,235 shares of the real estate investment trust's stock valued at $1,046,000 after buying an additional 9,777 shares during the period. 66.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AHH has been the topic of several recent analyst reports. Weiss Ratings restated a "hold (c-)" rating on shares of Armada Hoffler Properties in a report on Wednesday. Bank of America decreased their target price on Armada Hoffler Properties from $7.50 to $7.00 and set an "underperform" rating for the company in a research note on Monday, August 25th. Finally, 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 for the company. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $8.38.

Armada Hoffler Properties Stock Down 1.5%

Shares of NYSE AHH opened at $6.59 on Friday. The stock has a market capitalization of $683.12 million, a P/E ratio of 54.92 and a beta of 1.12. The company has a 50-day moving average price of $7.09 and a 200-day moving average price of $7.02. Armada Hoffler Properties, Inc. has a 1 year low of $6.10 and a 1 year high of $11.35. The company has a debt-to-equity ratio of 2.23, a current ratio of 8.66 and a quick ratio of 8.66.

Armada Hoffler Properties (NYSE:AHH - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.01). Armada Hoffler Properties had a net margin of 4.39% and a return on equity of 3.40%. The business had revenue of $65.15 million during the quarter, compared to the consensus estimate of $63.29 million. Armada Hoffler Properties has set its FY 2025 guidance at 1.000-1.100 EPS. On average, equities research analysts forecast that Armada Hoffler Properties, Inc. will post 1.05 EPS for the current fiscal year.

Armada Hoffler Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Wednesday, September 24th were paid a $0.14 dividend. The ex-dividend date of this dividend was Wednesday, September 24th. This represents a $0.56 annualized dividend and a dividend yield of 8.5%. Armada Hoffler Properties's dividend payout ratio is 466.67%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.