Virginia Retirement Systems ET AL Raises Stake in Armada Hoffler Properties Inc (AHH)

Virginia Retirement Systems ET AL Raises Stake in Armada Hoffler Properties Inc (AHH)

Virginia Retirement Systems ET AL grew its holdings in Armada Hoffler Properties Inc (NYSE:AHH) by 7.0% during the first quarter, HoldingsChannel.com reports. The fund owned 29,000 shares of the real estate investment trust’s stock after purchasing an additional 1,900 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in Armada Hoffler Properties were worth $452,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Comerica Bank grew its holdings in Armada Hoffler Properties by 2.0% during the 4th quarter. Comerica Bank now owns 48,006 shares of the real estate investment trust’s stock worth $711,000 after acquiring an additional 921 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of Armada Hoffler Properties by 3.3% during the 4th quarter. State of Alaska Department of Revenue now owns 32,705 shares of the real estate investment trust’s stock worth $459,000 after buying an additional 1,058 shares in the last quarter. Raymond James & Associates raised its position in shares of Armada Hoffler Properties by 7.9% during the 4th quarter. Raymond James & Associates now owns 17,696 shares of the real estate investment trust’s stock worth $249,000 after buying an additional 1,298 shares in the last quarter. Texas Permanent School Fund raised its position in shares of Armada Hoffler Properties by 5.6% during the 4th quarter. Texas Permanent School Fund now owns 32,476 shares of the real estate investment trust’s stock worth $457,000 after buying an additional 1,713 shares in the last quarter. Finally, BB&T Securities LLC raised its position in shares of Armada Hoffler Properties by 9.3% during the 4th quarter. BB&T Securities LLC now owns 32,147 shares of the real estate investment trust’s stock worth $451,000 after buying an additional 2,746 shares in the last quarter. 80.12% of the stock is currently owned by institutional investors and hedge funds.

Shares of AHH stock traded up $0.04 during midday trading on Thursday, reaching $16.14. 6,415 shares of the company were exchanged, compared to its average volume of 192,070. Armada Hoffler Properties Inc has a 12 month low of $13.49 and a 12 month high of $16.51. The company has a market capitalization of $843.95 million, a price-to-earnings ratio of 15.69, a price-to-earnings-growth ratio of 3.16 and a beta of 0.54. The company has a current ratio of 13.03, a quick ratio of 13.01 and a debt-to-equity ratio of 1.63.

Armada Hoffler Properties (NYSE:AHH) last released its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.18). Armada Hoffler Properties had a return on equity of 3.96% and a net margin of 9.66%. The company had revenue of $30.91 million for the quarter, compared to the consensus estimate of $31.00 million. On average, equities research analysts predict that Armada Hoffler Properties Inc will post 1.15 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 3rd. Investors of record on Wednesday, June 26th will be issued a $0.21 dividend. The ex-dividend date is Tuesday, June 25th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.20%. Armada Hoffler Properties’s payout ratio is currently 81.55%.

In other Armada Hoffler Properties news, CEO Louis S. Haddad bought 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were acquired at an average cost of $15.31 per share, for a total transaction of $229,650.00. Following the acquisition, the chief executive officer now directly owns 320,530 shares of the company’s stock, valued at $4,907,314.30. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 14.40% of the stock is owned by insiders.

Separately, Zacks Investment Research upgraded shares of Armada Hoffler Properties from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research report on Monday. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Armada Hoffler Properties currently has a consensus rating of “Buy” and an average price target of $16.65.

About Armada Hoffler Properties

Armada Hoffler Properties, Inc (NYSE: AHH) is a vertically-integrated, self-managed real estate investment trust ("REIT") with four decades of experience developing, building, acquiring, and managing high-quality, institutional-grade office, retail, and multifamily properties located primarily in the Mid-Atlantic and Southeastern United States.

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