Armada Hoffler Properties (NYSE:AHH) Upgraded to Buy by Zacks Investment Research

Armada Hoffler Properties (NYSE:AHHGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday, Zacks.com reports. The firm presently has a $16.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s target price indicates a potential upside of 10.04% from the stock’s current price.

According to Zacks, “Armada Hoffler Properties, Inc. is a real estate investment trust. It is engaged in developing, building, owning and managing office, retail and multifamily properties primarily in the United States. Its properties are situated in Virginia and North Carolina. Armada Hoffler Properties, Inc. is based in Virginia Beach, United States. “

A number of other equities research analysts have also recently commented on the stock. StockNews.com assumed coverage on shares of Armada Hoffler Properties in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Robert W. Baird reissued a “buy” rating and issued a $15.00 price objective on shares of Armada Hoffler Properties in a research note on Thursday, December 30th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $15.08.

Shares of AHH stock traded up $0.39 during mid-day trading on Tuesday, hitting $14.54. The stock had a trading volume of 16,922 shares, compared to its average volume of 587,489. Armada Hoffler Properties has a 12-month low of $12.62 and a 12-month high of $15.80. The company has a debt-to-equity ratio of 1.58, a current ratio of 7.24 and a quick ratio of 7.24. The firm has a market capitalization of $1.28 billion, a P/E ratio of 85.65, a price-to-earnings-growth ratio of 10.21 and a beta of 0.78. The firm’s 50-day moving average is $14.52 and its two-hundred day moving average is $14.41.

Armada Hoffler Properties (NYSE:AHHGet Rating) last posted its earnings results on Thursday, February 10th. The real estate investment trust reported $0.18 EPS for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.08). The firm had revenue of $49.46 million for the quarter, compared to analysts’ expectations of $49.60 million. Armada Hoffler Properties had a net margin of 8.96% and a return on equity of 4.26%. During the same period in the previous year, the company earned $0.25 EPS. Analysts expect that Armada Hoffler Properties will post 1.12 EPS for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. D.A. Davidson & CO. boosted its position in Armada Hoffler Properties by 0.4% during the fourth quarter. D.A. Davidson & CO. now owns 181,638 shares of the real estate investment trust’s stock worth $2,764,000 after purchasing an additional 760 shares in the last quarter. abrdn plc boosted its position in shares of Armada Hoffler Properties by 6.6% in the 4th quarter. abrdn plc now owns 12,978 shares of the real estate investment trust’s stock worth $198,000 after buying an additional 808 shares in the last quarter. Amalgamated Bank grew its stake in Armada Hoffler Properties by 3.2% in the 3rd quarter. Amalgamated Bank now owns 29,246 shares of the real estate investment trust’s stock valued at $391,000 after acquiring an additional 905 shares during the last quarter. Albert D Mason Inc. increased its holdings in Armada Hoffler Properties by 1.3% during the 4th quarter. Albert D Mason Inc. now owns 73,149 shares of the real estate investment trust’s stock valued at $1,113,000 after acquiring an additional 942 shares in the last quarter. Finally, Carroll Financial Associates Inc. increased its holdings in Armada Hoffler Properties by 3.6% during the 4th quarter. Carroll Financial Associates Inc. now owns 26,952 shares of the real estate investment trust’s stock valued at $413,000 after acquiring an additional 946 shares in the last quarter. 60.81% of the stock is owned by hedge funds and other institutional investors.

Armada Hoffler Properties Company Profile (Get Rating)

Armada Hoffler Properties, Inc (NYSE: AHH) is a vertically-integrated, self-managed real estate investment trust ("REIT") with four decades of experience developing, building, acquiring, and managing high-quality, institutional-grade office, retail, and multifamily properties located primarily in the Mid-Atlantic and Southeastern United States.

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