Armada Hoffler Properties (NYSE:AHH) Shares Gap Down – Should You Sell?

Armada Hoffler Properties, Inc. (NYSE:AHH)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $8.70, but opened at $8.35. Armada Hoffler Properties shares last traded at $8.00, with a volume of 279,271 shares changing hands.

Wall Street Analyst Weigh In

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

Armada Hoffler Properties Price Performance

The business’s fifty day simple moving average is $9.49 and its 200 day simple moving average is $10.57. The firm has a market capitalization of $786.95 million, a price-to-earnings ratio of 24.30 and a beta of 1.04. The company has a debt-to-equity ratio of 1.56, a current ratio of 8.81 and a quick ratio of 7.17.

Armada Hoffler Properties (NYSE:AHH) last posted its quarterly earnings results on Wednesday, February 19th. The real estate investment trust reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $66.67 million. On average, research analysts forecast that Armada Hoffler Properties, Inc. 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. Shareholders of record on Wednesday, March 26th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 7.21%. Armada Hoffler Properties’s dividend payout ratio (DPR) is 256.25%.

Institutional Investors Weigh In On Armada Hoffler Properties

Several hedge funds and other institutional investors have recently made changes to their positions in AHH. Vanguard Group Inc. boosted its stake 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 valued at $97,357,000 after purchasing an additional 829,392 shares during the last quarter. FMR LLC boosted its position in shares of Armada Hoffler Properties by 6.4% during the third quarter. FMR LLC now owns 2,337,275 shares of the real estate investment trust’s stock valued at $25,313,000 after buying an additional 140,964 shares during the last quarter. Franklin Resources Inc. grew its holdings in Armada Hoffler Properties by 9.0% during the fourth quarter. Franklin Resources Inc. now owns 2,105,812 shares of the real estate investment trust’s stock worth $21,542,000 after buying an additional 173,149 shares in the last quarter. Geode Capital Management LLC raised its position in Armada Hoffler Properties by 15.3% in the 4th quarter. Geode Capital Management LLC now owns 2,035,178 shares of the real estate investment trust’s stock valued at $20,824,000 after buying an additional 269,367 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its stake 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 valued at $13,453,000 after acquiring an additional 713,010 shares in the last quarter. 66.35% of the stock is owned by institutional investors.

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.