Insider Buying: Armada Hoffler Properties, Inc. (NYSE:AHH) Director Buys $229,200.00 in Stock

Armada Hoffler Properties, Inc. (NYSE:AHH) Director A Russell Kirk acquired 30,000 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was purchased at an average price of $7.64 per share, for a total transaction of $229,200.00. Following the completion of the acquisition, the director now owns 49,430 shares in the company, valued at approximately $377,645.20. This trade represents a 154.40 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Armada Hoffler Properties Stock Performance

Shares of NYSE:AHH opened at $7.69 on Friday. The company has a market cap of $778.64 million, a P/E ratio of 24.02 and a beta of 1.04. The company has a debt-to-equity ratio of 1.56, a quick ratio of 7.17 and a current ratio of 8.81. Armada Hoffler Properties, Inc. has a one year low of $7.47 and a one year high of $12.46. The business’s 50-day simple moving average is $9.18 and its 200 day simple moving average is $10.36.

Armada Hoffler Properties (NYSE:AHH) last announced its earnings results on Wednesday, February 19th. The real estate investment trust reported $0.27 EPS for the quarter, beating the consensus estimate of $0.06 by $0.21. The business had revenue of $62.95 million for the quarter, compared to the consensus estimate of $66.67 million. Armada Hoffler Properties had a return on equity of 5.96% and a net margin of 5.99%. On average, sell-side analysts forecast that Armada Hoffler Properties, Inc. will post 1.05 earnings per share for the current fiscal year.

Armada Hoffler Properties Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, March 26th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, March 26th. This represents a $0.56 annualized dividend and a dividend yield of 7.29%. Armada Hoffler Properties’s payout ratio is currently 175.00%.

Institutional Investors Weigh In On Armada Hoffler Properties

Several hedge funds have recently modified their holdings of AHH. Vision Capital Corp purchased a new stake in Armada Hoffler Properties during the 3rd quarter worth approximately $11,913,000. Sound Income Strategies LLC purchased a new stake in Armada Hoffler Properties during the 4th quarter worth approximately $9,049,000. Vanguard Group Inc. increased its holdings in Armada Hoffler Properties by 9.5% during the 4th quarter. Vanguard Group Inc. now owns 9,516,800 shares of the real estate investment trust’s stock worth $97,357,000 after purchasing an additional 829,392 shares during the last quarter. Nuveen Asset Management LLC increased its holdings in Armada Hoffler Properties by 118.4% during the 4th quarter. Nuveen Asset Management LLC now owns 1,315,020 shares of the real estate investment trust’s stock worth $13,453,000 after purchasing an additional 713,010 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Armada Hoffler Properties by 15.3% during the 4th quarter. Geode Capital Management LLC now owns 2,035,178 shares of the real estate investment trust’s stock worth $20,824,000 after purchasing an additional 269,367 shares during the last quarter. 66.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Scotiabank cut their price objective on Armada Hoffler Properties from $11.00 to $10.00 and set a “sector perform” rating on the stock in a report on Friday, February 28th.

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.