Armada Hoffler Properties (NYSE:AHH) Shares Gap Down to $11.86

Armada Hoffler Properties, Inc. (NYSE:AHH) gapped down prior to trading on Thursday . The stock had previously closed at $11.86, but opened at $10.96. Armada Hoffler Properties shares last traded at $11.05, with a volume of 1,194,090 shares traded.

Analyst Upgrades and Downgrades

AHH has been the subject of a number of recent analyst reports. StockNews.com upgraded Armada Hoffler Properties from a “sell” rating to a “hold” rating in a report on Friday, September 13th. Jefferies Financial Group downgraded shares of Armada Hoffler Properties from a “buy” rating to a “hold” rating and dropped their price objective for the company from $13.00 to $11.00 in a research note on Monday, July 15th. Finally, Stifel Nicolaus began coverage on Armada Hoffler Properties in a research note on Monday, July 15th. They issued a “buy” rating and a $12.75 target price on the stock.

Armada Hoffler Properties Stock Performance

The company has a debt-to-equity ratio of 2.44, a quick ratio of 7.49 and a current ratio of 7.49. The stock has a market cap of $970.40 million, a PE ratio of 122.22 and a beta of 1.04. The firm has a fifty day moving average price of $11.85 and a 200 day moving average price of $11.22.

Armada Hoffler Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Wednesday, September 25th will be issued a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 7.50%. The ex-dividend date is Wednesday, September 25th. Armada Hoffler Properties’s dividend payout ratio is presently 911.11%.

Insider Activity

In related news, Director Dennis H. Gartman purchased 4,500 shares of the business’s stock in a transaction on Wednesday, July 10th. The shares were acquired at an average price of $11.09 per share, for a total transaction of $49,905.00. Following the purchase, the director now owns 21,486 shares of the company’s stock, valued at approximately $238,279.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 11.90% of the company’s stock.

Institutional Trading of Armada Hoffler Properties

Large investors have recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System lifted its holdings in shares of Armada Hoffler Properties by 70.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 114,524 shares of the real estate investment trust’s stock worth $1,191,000 after purchasing an additional 47,377 shares during the period. First Eagle Investment Management LLC lifted its stake in Armada Hoffler Properties by 9.4% during the 1st quarter. First Eagle Investment Management LLC now owns 970,931 shares of the real estate investment trust’s stock valued at $10,098,000 after acquiring an additional 83,500 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Armada Hoffler Properties by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 7,757,553 shares of the real estate investment trust’s stock valued at $80,679,000 after acquiring an additional 65,300 shares during the last quarter. Sei Investments Co. increased its stake in shares of Armada Hoffler Properties by 2.7% in the first quarter. Sei Investments Co. now owns 234,366 shares of the real estate investment trust’s stock worth $2,437,000 after acquiring an additional 6,236 shares during the period. Finally, New York State Teachers Retirement System raised its holdings in shares of Armada Hoffler Properties by 6.6% during the first quarter. New York State Teachers Retirement System now owns 102,927 shares of the real estate investment trust’s stock worth $1,070,000 after purchasing an additional 6,343 shares during the last quarter. Hedge funds and other institutional investors own 66.35% of the company’s stock.

About Armada Hoffler Properties

Armada Hoffler (NYSE: AHH) is a vertically-integrated, self-managed real estate investment trust 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.