Armada Hoffler Properties (NYSE:AHRT) Cut to “Strong Sell” at Zacks Research

Zacks Research cut shares of Armada Hoffler Properties (NYSE:AHRT) from a hold rating to a strong sell rating in a research report released on Monday,Zacks.com reports.

Several other research firms have also recently issued reports on AHRT. Weiss Ratings reissued a “sell (d)” rating on shares of Armada Hoffler Properties in a research report on Monday, December 29th. Stifel Nicolaus lowered their price target on Armada Hoffler Properties from $10.50 to $9.00 and set a “buy” rating for the company in a report on Tuesday, February 17th. UBS Group set a $7.50 price objective on Armada Hoffler Properties in a research note on Wednesday, January 14th. Wall Street Zen lowered Armada Hoffler Properties from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Finally, Scotiabank upped their target price on Armada Hoffler Properties from $7.00 to $7.50 and gave the stock a “sector perform” rating in a report on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $7.80.

Armada Hoffler Properties Stock Up 2.7%

NYSE:AHRT opened at $6.38 on Monday. The company has a market cap of $661.48 million, a price-to-earnings ratio of -79.75 and a beta of 1.03. Armada Hoffler Properties has a twelve month low of $5.84 and a twelve month high of $9.22. The company has a current ratio of 6.15, a quick ratio of 6.15 and a debt-to-equity ratio of 2.46. The stock has a fifty day simple moving average of $6.71 and a 200-day simple moving average of $6.77.

Insiders Place Their Bets

In related news, Director Frederick Blair Wimbush acquired 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were bought at an average price of $6.19 per share, with a total value of $61,900.00. Following the completion of the transaction, the director directly owned 38,685 shares in the company, valued at $239,460.15. This trade represents a 34.86% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 11.90% of the stock is currently owned by insiders.

Institutional Trading of Armada Hoffler Properties

Hedge funds have recently modified their holdings of the company. Invesco Ltd. grew its position in shares of Armada Hoffler Properties by 3.5% in the 4th quarter. Invesco Ltd. now owns 2,296,307 shares of the real estate investment trust’s stock worth $15,202,000 after buying an additional 77,532 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its position in Armada Hoffler Properties by 36.9% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 18,087 shares of the real estate investment trust’s stock valued at $120,000 after acquiring an additional 4,879 shares during the last quarter. XTX Topco Ltd acquired a new stake in Armada Hoffler Properties in the fourth quarter valued at approximately $89,000. Millennium Management LLC grew its holdings in Armada Hoffler Properties by 34.7% in the fourth quarter. Millennium Management LLC now owns 67,311 shares of the real estate investment trust’s stock worth $446,000 after purchasing an additional 17,336 shares during the last quarter. Finally, Inspire Investing LLC increased its position in shares of Armada Hoffler Properties by 8.2% during the fourth quarter. Inspire Investing LLC now owns 70,230 shares of the real estate investment trust’s stock worth $465,000 after purchasing an additional 5,351 shares in the last quarter. 66.35% of the stock is owned by hedge funds and other institutional investors.

Armada Hoffler Properties Company Profile

Armada Hoffler Properties, Inc is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and development of retail, office and mixed-use properties. The company’s portfolio primarily comprises neighborhood and community shopping centers, urban infill retail sites and select office buildings located in high-growth markets. Armada Hoffler also provides in-house property management and leasing services, leveraging its vertically integrated platform to enhance asset value and tenant satisfaction.

Founded on a legacy of commercial real estate development dating back to the 1970s, Armada Hoffler went public in 2016 through a strategic combination of private real estate entities.