State of New Jersey Common Pension Fund D boosted its stake in shares of Armada Hoffler Properties, Inc. (NYSE:AHH) by 12.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 247,255 shares of the real estate investment trust’s stock after buying an additional 27,685 shares during the period. State of New Jersey Common Pension Fund D owned about 0.31% of Armada Hoffler Properties worth $2,774,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Prospera Financial Services Inc acquired a new stake in shares of Armada Hoffler Properties during the third quarter worth approximately $46,000. Stratos Wealth Partners LTD. acquired a new position in shares of Armada Hoffler Properties during the third quarter worth approximately $93,000. BNP Paribas Arbitrage SA grew its position in Armada Hoffler Properties by 339.6% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 14,397 shares of the real estate investment trust’s stock worth $133,000 after purchasing an additional 11,122 shares during the last quarter. Sterneck Capital Management LLC acquired a new position in Armada Hoffler Properties in the 4th quarter valued at approximately $137,000. Finally, Cubist Systematic Strategies LLC lifted its position in shares of Armada Hoffler Properties by 57.6% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 15,094 shares of the real estate investment trust’s stock worth $140,000 after acquiring an additional 5,517 shares during the period. Institutional investors and hedge funds own 61.72% of the company’s stock.
Shares of NYSE:AHH opened at $12.72 on Tuesday. The company’s fifty day moving average is $11.50 and its 200-day moving average is $10.44. The company has a debt-to-equity ratio of 1.56, a quick ratio of 15.37 and a current ratio of 15.37. Armada Hoffler Properties, Inc. has a 52 week low of $6.40 and a 52 week high of $18.68. The company has a market capitalization of $1.00 billion, a PE ratio of 28.27 and a beta of 0.76.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 8th. Shareholders of record on Wednesday, March 31st will be given a $0.15 dividend. This is an increase from Armada Hoffler Properties’s previous quarterly dividend of $0.11. The ex-dividend date is Tuesday, March 30th. This represents a $0.60 annualized dividend and a yield of 4.72%. Armada Hoffler Properties’s payout ratio is presently 37.61%.
A number of brokerages recently commented on AHH. Bank of America upped their target price on Armada Hoffler Properties from $10.00 to $10.50 and gave the company a “neutral” rating in a research note on Monday, November 16th. Zacks Investment Research raised shares of Armada Hoffler Properties from a “sell” rating to a “hold” rating in a report on Friday. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $10.38.
Armada Hoffler Properties Company 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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