Armada Hoffler Properties (NYSE:AHH) Sees Strong Trading Volume After Dividend Announcement

Armada Hoffler Properties, Inc. (NYSE:AHH) saw an uptick in trading volume on Tuesday after the company announced a dividend. 740,185 shares were traded during mid-day trading, an increase of 53% from the previous session’s volume of 484,849 shares.The stock last traded at $10.92 and had previously closed at $10.99.

The newly announced dividend which will be paid on Thursday, January 2nd. Stockholders of record on Thursday, December 26th will be given a dividend of $0.205 per share. The ex-dividend date of this dividend is Thursday, December 26th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 7.98%. Armada Hoffler Properties’s dividend payout ratio (DPR) is -390.48%.

Wall Street Analysts Forecast Growth

AHH has been the topic of several research reports. Stifel Nicolaus raised their target price on Armada Hoffler Properties from $12.50 to $12.75 and gave the company a “buy” rating in a research report on Tuesday, November 5th. StockNews.com downgraded shares of Armada Hoffler Properties from a “hold” rating to a “sell” rating in a research note on Tuesday, October 22nd.

Armada Hoffler Properties Price Performance

The company has a current ratio of 7.17, a quick ratio of 7.17 and a debt-to-equity ratio of 2.00. The company’s fifty day moving average is $10.99 and its two-hundred day moving average is $11.31. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of -48.90 and a beta of 1.03.

Armada Hoffler Properties (NYSE:AHH) last posted its quarterly earnings data on Monday, November 4th. The real estate investment trust reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.42). The firm had revenue of $68.60 million during the quarter, compared to analysts’ expectations of $65.01 million. Armada Hoffler Properties had a negative net margin of 1.01% and a negative return on equity of 1.18%. Armada Hoffler Properties’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.31 EPS. As a group, research analysts predict that Armada Hoffler Properties, Inc. will post 1.27 earnings per share for the current year.

Insider Buying and Selling at Armada Hoffler Properties

In other Armada Hoffler Properties news, Director Daniel A. Hoffler purchased 95,238 shares of the firm’s stock in a transaction on Thursday, September 26th. The stock was bought at an average cost of $10.50 per share, with a total value of $999,999.00. Following the acquisition, the director now directly owns 266,647 shares of the company’s stock, valued at approximately $2,799,793.50. This represents a 55.56 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Dennis H. Gartman purchased 4,500 shares of Armada Hoffler Properties stock in a transaction that occurred on Wednesday, December 11th. The stock was bought at an average cost of $10.85 per share, with a total value of $48,825.00. Following the completion of the transaction, the director now owns 31,649 shares of the company’s stock, valued at $343,391.65. The trade was a 16.58 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 104,238 shares of company stock valued at $1,097,649 in the last 90 days. Company insiders own 11.90% of the company’s stock.

Institutional Trading of Armada Hoffler Properties

A number of hedge funds have recently added to or reduced their stakes in the stock. Van ECK Associates Corp increased its holdings in shares of Armada Hoffler Properties by 12.3% in the third quarter. Van ECK Associates Corp now owns 11,403 shares of the real estate investment trust’s stock valued at $126,000 after purchasing an additional 1,251 shares during the period. Daiwa Securities Group Inc. increased its stake in Armada Hoffler Properties by 6.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 22,272 shares of the real estate investment trust’s stock valued at $241,000 after purchasing an additional 1,316 shares in the last quarter. abrdn plc increased its stake in shares of Armada Hoffler Properties by 10.5% during the 3rd quarter. abrdn plc now owns 13,856 shares of the real estate investment trust’s stock worth $150,000 after purchasing an additional 1,322 shares in the last quarter. Asset Management One Co. Ltd. raised its stake in Armada Hoffler Properties by 1.7% in the 3rd quarter. Asset Management One Co. Ltd. now owns 97,243 shares of the real estate investment trust’s stock valued at $1,053,000 after purchasing an additional 1,642 shares during the last quarter. Finally, KBC Group NV boosted its holdings in shares of Armada Hoffler Properties by 66.0% during the third quarter. KBC Group NV now owns 4,934 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 1,962 shares during the last quarter. 66.35% of the stock is owned by institutional investors and hedge funds.

Armada Hoffler Properties Company Profile

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.