Short Interest in Armada Hoffler Properties, Inc. (NYSE:AHH) Expands By 22.0%

Armada Hoffler Properties, Inc. (NYSE:AHH) was the target of a large growth in short interest in March. As of March 15th, there was short interest totalling 2,270,000 shares, a growth of 22.0% from the February 28th total of 1,860,000 shares. Based on an average daily volume of 959,200 shares, the days-to-cover ratio is currently 2.4 days. Currently, 2.5% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Separately, Scotiabank lowered their price target 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.

Armada Hoffler Properties Stock Performance

Armada Hoffler Properties stock traded up $0.05 on Wednesday, reaching $7.47. 112,909 shares of the stock were exchanged, compared to its average volume of 886,842. The company has a current ratio of 8.81, a quick ratio of 7.17 and a debt-to-equity ratio of 1.56. Armada Hoffler Properties has a twelve month low of $7.35 and a twelve month high of $12.46. The firm has a fifty day moving average price of $8.88 and a two-hundred day moving average price of $10.13. The stock has a market cap of $756.35 million, a PE ratio of 23.30 and a beta of 1.04.

Armada Hoffler Properties (NYSE:AHH) last posted its quarterly earnings data on Wednesday, February 19th. The real estate investment trust reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.21. Armada Hoffler Properties had a return on equity of 5.96% and a net margin of 5.99%. The business had revenue of $62.95 million during the quarter, compared to analysts’ expectations of $66.67 million. Sell-side analysts anticipate that Armada Hoffler Properties will post 1.05 EPS for the current year.

Armada Hoffler Properties Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, March 26th will be given a $0.14 dividend. The ex-dividend date is Wednesday, March 26th. This represents a $0.56 annualized dividend and a dividend yield of 7.50%. Armada Hoffler Properties’s dividend payout ratio is 175.00%.

Insider Activity

In related news, Director A Russell Kirk purchased 50,000 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The stock was bought at an average price of $7.73 per share, for a total transaction of $386,500.00. Following the purchase, the director now owns 119,430 shares in the company, valued at $923,193.90. The trade was a 72.01 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have acquired 90,383 shares of company stock worth $696,607. 11.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Armada Hoffler Properties

Hedge funds and other institutional investors have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC boosted its holdings in Armada Hoffler Properties by 80.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,500 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 2,000 shares during the period. Summit Investment Advisors Inc. raised its position in shares of Armada Hoffler Properties by 23.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 8,248 shares of the real estate investment trust’s stock valued at $84,000 after buying an additional 1,551 shares during the last quarter. Stoneridge Investment Partners LLC acquired a new position in shares of Armada Hoffler Properties during the fourth quarter valued at about $107,000. Caisse Des Depots ET Consignations bought a new stake in shares of Armada Hoffler Properties in the fourth quarter valued at about $110,000. Finally, Quantinno Capital Management LP acquired a new stake in Armada Hoffler Properties during the fourth quarter worth about $115,000. Institutional investors and hedge funds own 66.35% of the company’s stock.

Armada Hoffler Properties Company 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.