Armada Hoffler Properties, Inc. (NYSE:AHRT – Get Free Report) has earned an average rating of “Hold” from the six brokerages that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have given a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $7.3750.
A number of analysts recently issued reports on the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of Armada Hoffler Properties in a report on Friday, August 7th. Jefferies Financial Group upgraded Armada Hoffler Properties to a “strong-buy” rating in a report on Tuesday, August 18th. Wall Street Zen upgraded Armada Hoffler Properties from a “strong sell” rating to a “sell” rating in a report on Saturday, May 23rd. Finally, Stifel Nicolaus dropped their price target on Armada Hoffler Properties from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, May 5th.
Read Our Latest Report on AHRT
Armada Hoffler Properties Price Performance
Armada Hoffler Properties announced that its board has authorized a share buyback program on Thursday, May 14th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the real estate investment trust to repurchase up to 15% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Armada Hoffler Properties by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,791 shares of the real estate investment trust’s stock worth $351,000 after purchasing an additional 2,015 shares during the period. Daiwa Securities Group Inc. increased its holdings in Armada Hoffler Properties by 7.9% during the second quarter. Daiwa Securities Group Inc. now owns 28,312 shares of the real estate investment trust’s stock valued at $195,000 after buying an additional 2,082 shares during the period. Amundi increased its holdings in Armada Hoffler Properties by 5.9% during the first quarter. Amundi now owns 44,107 shares of the real estate investment trust’s stock valued at $305,000 after buying an additional 2,465 shares during the period. First Trust Advisors LP raised its stake in Armada Hoffler Properties by 19.9% in the fourth quarter. First Trust Advisors LP now owns 16,806 shares of the real estate investment trust’s stock worth $111,000 after buying an additional 2,792 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in Armada Hoffler Properties by 1.7% in the fourth quarter. Janney Montgomery Scott LLC now owns 203,593 shares of the real estate investment trust’s stock worth $1,348,000 after buying an additional 3,453 shares in the last quarter. Hedge funds and other institutional investors own 66.35% of the company’s stock.
Armada Hoffler Properties Company Profile
Armada Hoffler Properties, Inc is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and development of retail, office and mixed-use properties. The company’s portfolio primarily comprises neighborhood and community shopping centers, urban infill retail sites and select office buildings located in high-growth markets. Armada Hoffler also provides in-house property management and leasing services, leveraging its vertically integrated platform to enhance asset value and tenant satisfaction.
Founded on a legacy of commercial real estate development dating back to the 1970s, Armada Hoffler went public in 2016 through a strategic combination of private real estate entities.
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