Armada Hoffler Properties (NYSE:AHH) Shares Gap Up on Insider Buying Activity

Armada Hoffler Properties, Inc. (NYSE:AHH)’s stock price gapped up before the market opened on Tuesday after an insider bought additional shares in the company. The stock had previously closed at $10.83, but opened at $11.12. Armada Hoffler Properties shares last traded at $10.80, with a volume of 113,059 shares trading hands.

Specifically, Director Daniel A. Hoffler bought 95,238 shares of Armada Hoffler Properties stock in a transaction dated Thursday, September 26th. The shares were purchased at an average cost of $10.50 per share, for a total transaction of $999,999.00. Following the acquisition, the director now directly owns 266,647 shares in the company, valued at approximately $2,799,793.50. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AHH. StockNews.com upgraded shares of Armada Hoffler Properties from a “sell” rating to a “hold” rating in a report on Friday, September 13th. Jefferies Financial Group downgraded shares of Armada Hoffler Properties from a “buy” rating to a “hold” rating and reduced their target price for the stock from $13.00 to $11.00 in a report on Monday, July 15th. Finally, Stifel Nicolaus reduced their target price on shares of Armada Hoffler Properties from $12.75 to $12.50 and set a “buy” rating on the stock in a report on Friday, September 27th.

Armada Hoffler Properties Price Performance

The company has a debt-to-equity ratio of 2.44, a quick ratio of 7.49 and a current ratio of 7.49. The firm has a market capitalization of $970.40 million, a P/E ratio of 121.44 and a beta of 1.04. The stock’s 50 day simple moving average is $11.78 and its 200 day simple moving average is $11.24.

Armada Hoffler Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Wednesday, September 25th will be given a $0.205 dividend. The ex-dividend date is Wednesday, September 25th. This represents a $0.82 annualized dividend and a dividend yield of 7.50%. Armada Hoffler Properties’s payout ratio is presently 911.11%.

Institutional Investors Weigh In On Armada Hoffler Properties

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Great Lakes Advisors LLC acquired a new position in Armada Hoffler Properties during the 2nd quarter valued at approximately $2,961,000. Mesirow Institutional Investment Management Inc. increased its stake in Armada Hoffler Properties by 14.2% during the 1st quarter. Mesirow Institutional Investment Management Inc. now owns 1,049,188 shares of the real estate investment trust’s stock valued at $10,912,000 after purchasing an additional 130,497 shares in the last quarter. Algert Global LLC increased its stake in Armada Hoffler Properties by 858.2% during the 2nd quarter. Algert Global LLC now owns 140,738 shares of the real estate investment trust’s stock valued at $1,561,000 after purchasing an additional 126,051 shares in the last quarter. First Eagle Investment Management LLC increased its stake in Armada Hoffler Properties by 9.4% during the 1st quarter. First Eagle Investment Management LLC now owns 970,931 shares of the real estate investment trust’s stock valued at $10,098,000 after purchasing an additional 83,500 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Armada Hoffler Properties by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 7,757,553 shares of the real estate investment trust’s stock valued at $80,679,000 after purchasing an additional 65,300 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 (NYSE: AHH) is a vertically-integrated, self-managed real estate investment trust 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.