Geode Capital Management LLC Raises Holdings in Armada Hoffler Properties, Inc. (NYSE:AHH)

Geode Capital Management LLC raised its position in Armada Hoffler Properties, Inc. (NYSE:AHH) by 15.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,035,178 shares of the real estate investment trust’s stock after purchasing an additional 269,367 shares during the period. Geode Capital Management LLC owned 2.01% of Armada Hoffler Properties worth $20,824,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AHH. Franklin Resources Inc. grew its position in shares of Armada Hoffler Properties by 9.0% in the fourth quarter. Franklin Resources Inc. now owns 2,105,812 shares of the real estate investment trust’s stock valued at $21,542,000 after purchasing an additional 173,149 shares in the last quarter. Pictet Asset Management Holding SA boosted its stake in Armada Hoffler Properties by 19.8% during the fourth quarter. Pictet Asset Management Holding SA now owns 25,483 shares of the real estate investment trust’s stock worth $261,000 after buying an additional 4,213 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in Armada Hoffler Properties by 21.2% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 101,100 shares of the real estate investment trust’s stock valued at $1,034,000 after buying an additional 17,700 shares in the last quarter. Caisse Des Depots ET Consignations acquired a new stake in shares of Armada Hoffler Properties in the 4th quarter worth $110,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Armada Hoffler Properties by 28.8% during the 4th quarter. JPMorgan Chase & Co. now owns 801,274 shares of the real estate investment trust’s stock worth $8,197,000 after acquiring an additional 179,179 shares during the period. Institutional investors and hedge funds own 66.35% of the company’s stock.

Insider Buying and Selling

In other news, Director A Russell Kirk purchased 10,000 shares of the stock in a transaction dated Thursday, March 20th. The stock was acquired at an average cost of $7.70 per share, for a total transaction of $77,000.00. Following the completion of the transaction, the director now directly owns 69,430 shares in the company, valued at approximately $534,611. This represents a 16.83 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. In the last quarter, insiders purchased 90,954 shares of company stock valued at $699,607. Company insiders own 11.90% of the company’s stock.

Armada Hoffler Properties Price Performance

AHH stock opened at $6.81 on Friday. Armada Hoffler Properties, Inc. has a 52-week low of $6.10 and a 52-week high of $12.46. The company has a quick ratio of 7.17, a current ratio of 8.81 and a debt-to-equity ratio of 1.56. The stock has a market cap of $689.48 million, a price-to-earnings ratio of 21.27 and a beta of 0.89. The business has a fifty day moving average of $7.99 and a two-hundred day moving average of $9.64.

Armada Hoffler Properties (NYSE:AHH) last issued its quarterly earnings data on Wednesday, February 19th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.21. Armada Hoffler Properties had a net margin of 5.99% and a return on equity of 5.96%. The firm had revenue of $62.95 million for the quarter, compared to analyst estimates of $66.67 million. As a group, research analysts anticipate that Armada Hoffler Properties, Inc. will post 1.05 earnings per share for the current year.

Armada Hoffler Properties Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Wednesday, March 26th were issued a $0.14 dividend. The ex-dividend date of this dividend was Wednesday, March 26th. This represents a $0.56 annualized dividend and a dividend yield of 8.23%. Armada Hoffler Properties’s dividend payout ratio is currently 175.00%.

Analysts Set New Price Targets

Separately, Scotiabank dropped their price objective on shares of Armada Hoffler Properties from $10.00 to $8.00 and set a “sector perform” rating for the company in a report on Wednesday.

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.