New York State Common Retirement Fund Sells 86,749 Shares of Armada Hoffler Properties, Inc. (NYSE:AHH)

Key Points

• The New York State Common Retirement Fund reduced its stake in Armada Hoffler Properties, Inc. by 83.0%, leaving it with 17,768 shares valued at $133,000 as of the latest filing.
• Several hedge funds have increased their stakes, with Cambridge Investment Research Advisors Inc. leading at a 61.2% increase in the first quarter.
• The firm's latest earnings report indicated a missed consensus estimate with earnings per share of $0.25, and it declared a quarterly dividend of $0.14 with a yield of 7.95%.

New York State Common Retirement Fund cut its holdings in Armada Hoffler Properties, Inc. (NYSE:AHH - Free Report) by 83.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 17,768 shares of the real estate investment trust's stock after selling 86,749 shares during the period. New York State Common Retirement Fund's holdings in Armada Hoffler Properties were worth $133,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cambridge Investment Research Advisors Inc. lifted its position in Armada Hoffler Properties by 61.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 21,036 shares of the real estate investment trust's stock valued at $158,000 after purchasing an additional 7,985 shares during the last quarter. Cerity Partners LLC lifted its position in Armada Hoffler Properties by 180.2% in the 1st quarter. Cerity Partners LLC now owns 165,747 shares of the real estate investment trust's stock valued at $1,245,000 after purchasing an additional 106,588 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Armada Hoffler Properties by 23.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,776 shares of the real estate investment trust's stock valued at $458,000 after purchasing an additional 8,372 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Armada Hoffler Properties in the 4th quarter valued at about $2,239,000. Finally, Sei Investments Co. lifted its position in Armada Hoffler Properties by 8.2% in the 4th quarter. Sei Investments Co. now owns 331,882 shares of the real estate investment trust's stock valued at $3,395,000 after purchasing an additional 25,247 shares during the last quarter. 66.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on the stock. Scotiabank dropped their price target on shares of Armada Hoffler Properties from $10.00 to $8.00 and set a "sector perform" rating on the stock in a research report on Wednesday, April 16th. Jefferies Financial Group assumed coverage on shares of Armada Hoffler Properties in a research report on Friday, June 27th. They set a "buy" rating and a $8.00 price target on the stock. Finally, Stifel Nicolaus dropped their price target on shares of Armada Hoffler Properties from $12.25 to $10.50 and set a "buy" rating on the stock in a research report on Thursday, May 8th.

Armada Hoffler Properties Price Performance

Shares of AHH stock traded down $0.10 during midday trading on Thursday, reaching $6.82. 177,589 shares of the company were exchanged, compared to its average volume of 954,167. Armada Hoffler Properties, Inc. has a 12 month low of $6.10 and a 12 month high of $12.46. The company has a market cap of $690.50 million, a P/E ratio of 85.32 and a beta of 1.10. The company's 50 day moving average price is $7.01 and its two-hundred day moving average price is $7.75. The company has a debt-to-equity ratio of 2.03, a quick ratio of 12.47 and a current ratio of 12.47.

Armada Hoffler Properties (NYSE:AHH - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.01). The business had revenue of $63.80 million during 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, sell-side analysts expect that Armada Hoffler Properties, Inc. will post 1.05 earnings per share for the current year.

Armada Hoffler Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 8th. Stockholders of record on Monday, June 30th were paid a $0.14 dividend. The ex-dividend date was Monday, June 30th. This represents a $0.56 annualized dividend and a dividend yield of 8.22%. Armada Hoffler Properties's dividend payout ratio is currently 700.00%.

Armada Hoffler Properties Profile

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.