Shares of Armada Hoffler Properties, Inc. (NYSE: AHH) have garnered an average rating of “Hold” from five research firms monitoring the stock, according to Marketbeat.com. The evaluations include two sell ratings, one hold, one buy, and one strong buy recommendation. Analysts have set the average 12-month target price for the stock at $8.1250.
Recent analyst reports reflect a varied outlook for Armada Hoffler Properties. Notably, Wall Street Zen downgraded the stock from a “Hold” to a “Sell” rating on November 8, 2023. Conversely, Jefferies Financial Group upgraded the rating to “Strong Buy” in a note released on October 28, 2023. Additionally, Weiss Ratings maintained a “Sell (d)” rating, while Scotiabank reduced its target price from $8.00 to $7.00, assigning a “Sector Perform” rating in a report published on November 13, 2023.
Quarterly Earnings and Dividend Announcement
Armada Hoffler Properties recently released its quarterly earnings on November 3, 2023. The real estate investment trust (REIT) reported earnings per share (EPS) of $0.29, exceeding analysts’ expectations of $0.26 by $0.03. The company achieved a net margin of 6.77% and a return on equity of 4.43%, with revenues totaling $72.15 million, surpassing the forecast of $66.23 million.
Looking ahead, Armada Hoffler Properties has set its fiscal year 2025 EPS guidance in the range of $1.030 to $1.070. Analysts predict an average EPS of $1.05 for the current year.
In an additional update, the company announced a quarterly dividend of $0.14 per share, scheduled for payment on January 8, 2024, to shareholders of record on December 31, 2023. This dividend represents an annualized yield of 8.5% and a payout ratio of 294.74%.
Institutional Trading Activity
Institutional investors have been active in adjusting their holdings in Armada Hoffler Properties. Vanguard Group Inc. increased its stake by 1.4% during the first quarter, now holding 9,649,827 shares valued at approximately $72.47 million. Invesco Ltd. raised its position by 10.9% during the third quarter, acquiring an additional 218,167 shares to reach a total of 2,218,775 shares worth $15.55 million.
Geode Capital Management LLC also increased its holdings by 2.2%, while Qube Research & Technologies Ltd. significantly raised its stake by 46.8%, now owning 1,557,017 shares valued at $10.70 million. Meanwhile, Charles Schwab Investment Management Inc. expanded its position by 3.2% during the first quarter, owning 1,203,690 shares worth approximately $9.04 million.
Currently, institutional investors and hedge funds own approximately 66.35% of Armada Hoffler Properties’ stock. As the firm continues to navigate the evolving real estate market, these shifts in analyst ratings and trading activities highlight the diverse perspectives on its future performance.
