Crawford Investment Counsel Inc. lifted its position in shares of Armada Hoffler Properties, Inc. (NYSE:AHH – Get Rating) by 9.2% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 779,555 shares of the real estate investment trust’s stock after purchasing an additional 65,682 shares during the quarter. Crawford Investment Counsel Inc.’s holdings in Armada Hoffler Properties were worth $11,381,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of AHH. ProShare Advisors LLC acquired a new stake in shares of Armada Hoffler Properties during the fourth quarter worth $230,000. First Trust Advisors LP increased its position in shares of Armada Hoffler Properties by 8.5% during the fourth quarter. First Trust Advisors LP now owns 12,278 shares of the real estate investment trust’s stock worth $187,000 after buying an additional 967 shares during the period. Raymond James & Associates boosted its stake in Armada Hoffler Properties by 5.6% during the fourth quarter. Raymond James & Associates now owns 23,953 shares of the real estate investment trust’s stock worth $365,000 after acquiring an additional 1,262 shares in the last quarter. Bank of America Corp DE boosted its stake in Armada Hoffler Properties by 8.5% during the fourth quarter. Bank of America Corp DE now owns 302,589 shares of the real estate investment trust’s stock worth $4,606,000 after acquiring an additional 23,616 shares in the last quarter. Finally, Teacher Retirement System of Texas bought a new position in Armada Hoffler Properties during the fourth quarter worth $179,000. 68.76% of the stock is currently owned by institutional investors and hedge funds.
Armada Hoffler Properties Stock Up 1.4 %
Armada Hoffler Properties stock opened at $13.10 on Friday. Armada Hoffler Properties, Inc. has a 1-year low of $12.24 and a 1-year high of $15.80. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of 27.29, a price-to-earnings-growth ratio of 8.81 and a beta of 0.81. The firm’s fifty day moving average price is $13.45 and its two-hundred day moving average price is $13.76. The company has a current ratio of 12.11, a quick ratio of 12.11 and a debt-to-equity ratio of 1.58.
Armada Hoffler Properties Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 6th. Investors of record on Wednesday, September 28th will be given 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 dividend yield of 5.80%. The ex-dividend date is Tuesday, September 27th. Armada Hoffler Properties’s dividend payout ratio (DPR) is presently 141.67%.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on the stock. TheStreet raised shares of Armada Hoffler Properties from a “c” rating to a “b-” rating in a research note on Thursday, August 4th. Jefferies Financial Group cut their target price on shares of Armada Hoffler Properties from $18.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, June 30th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $14.38.
Armada Hoffler Properties Profile
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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