Armada Hoffler Properties, Inc. (NYSE:AHH) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its stake in shares of Armada Hoffler Properties, Inc. (NYSE:AHH) by 15.2% in the fourth quarter, Holdings Channel reports. The fund owned 680,046 shares of the real estate investment trust’s stock after purchasing an additional 89,962 shares during the period. Bank of New York Mellon Corp’s holdings in Armada Hoffler Properties were worth $6,957,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the business. FMR LLC raised its stake in shares of Armada Hoffler Properties by 6.4% during the 3rd quarter. FMR LLC now owns 2,337,275 shares of the real estate investment trust’s stock worth $25,313,000 after buying an additional 140,964 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Armada Hoffler Properties by 8.9% during the 3rd quarter. Franklin Resources Inc. now owns 1,932,663 shares of the real estate investment trust’s stock worth $20,989,000 after buying an additional 158,625 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Armada Hoffler Properties by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,765,811 shares of the real estate investment trust’s stock worth $19,127,000 after buying an additional 56,777 shares in the last quarter. Vision Capital Corp purchased a new position in shares of Armada Hoffler Properties during the 3rd quarter worth approximately $11,913,000. Finally, Sound Income Strategies LLC purchased a new position in shares of Armada Hoffler Properties during the 4th quarter worth approximately $9,049,000. 66.35% of the stock is owned by hedge funds and other institutional investors.

Armada Hoffler Properties Stock Performance

NYSE AHH opened at $7.59 on Friday. Armada Hoffler Properties, Inc. has a 1-year low of $7.56 and a 1-year high of $12.46. The company has a market capitalization of $768.61 million, a P/E ratio of 23.71 and a beta of 1.04. The business has a 50 day moving average price of $9.39 and a 200 day moving average price of $10.51. 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 released its quarterly earnings data on Wednesday, February 19th. The real estate investment trust reported $0.27 earnings per share for the quarter, beating 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 firm had revenue of $62.95 million during the quarter, compared to the consensus estimate of $66.67 million. Sell-side analysts expect that Armada Hoffler Properties, Inc. will post 1.05 EPS for the current fiscal year.

Armada Hoffler Properties Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, March 26th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 7.38%. The ex-dividend date of this dividend is Wednesday, March 26th. Armada Hoffler Properties’s payout ratio is 256.25%.

Analyst Ratings Changes

Separately, Scotiabank cut their target price on Armada Hoffler Properties from $11.00 to $10.00 and set a “sector perform” rating for the company in a research note on Friday, February 28th.

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.