State of New Jersey Common Pension Fund D lowered its position in shares of Armada Hoffler Properties, Inc. (NYSE:AHH – Get Rating) by 7.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 176,850 shares of the real estate investment trust’s stock after selling 14,213 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Armada Hoffler Properties were worth $2,582,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Van ECK Associates Corp raised its position in shares of Armada Hoffler Properties by 66.9% during the 4th quarter. Van ECK Associates Corp now owns 4,700 shares of the real estate investment trust’s stock worth $72,000 after purchasing an additional 1,884 shares during the period. Mutual of America Capital Management LLC raised its position in shares of Armada Hoffler Properties by 15.4% during the 1st quarter. Mutual of America Capital Management LLC now owns 9,701 shares of the real estate investment trust’s stock worth $142,000 after purchasing an additional 1,298 shares during the period. Advisor Partners LLC acquired a new stake in shares of Armada Hoffler Properties during the 4th quarter worth approximately $161,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Armada Hoffler Properties during the 4th quarter worth approximately $178,000. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Armada Hoffler Properties during the 4th quarter worth approximately $179,000. 63.17% of the stock is currently owned by institutional investors and hedge funds.
Armada Hoffler Properties Stock Up 1.6 %
AHH opened at $14.18 on Monday. Armada Hoffler Properties, Inc. has a 12 month low of $12.24 and a 12 month high of $15.80. The company has a debt-to-equity ratio of 1.70, a current ratio of 9.35 and a quick ratio of 9.35. The stock has a market cap of $1.25 billion, a P/E ratio of 59.08, a P/E/G ratio of 9.24 and a beta of 0.78. The stock’s 50 day moving average price is $13.26 and its 200 day moving average price is $13.82.
Armada Hoffler Properties Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 6th. Shareholders of record on Wednesday, September 28th will be paid a dividend of $0.19 per share. This is a positive change from Armada Hoffler Properties’s previous quarterly dividend of $0.17. This represents a $0.76 dividend on an annualized basis and a yield of 5.36%. The ex-dividend date of this dividend is Tuesday, September 27th. Armada Hoffler Properties’s dividend payout ratio (DPR) is presently 283.33%.
Analyst Ratings Changes
Separately, Jefferies Financial Group dropped their price target on Armada Hoffler Properties from $18.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, June 30th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $14.38.
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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