Armada Hoffler Properties (NYSE:AHH) Sees Unusually-High Trading Volume After Dividend Announcement

Armada Hoffler Properties, Inc. (NYSE:AHH) shares saw unusually-strong trading volume on Tuesday after the company announced a dividend. Approximately 740,185 shares changed hands during trading, an increase of 53% from the previous session’s volume of 484,849 shares.The stock last traded at $10.92 and had previously closed at $10.99.

The newly announced dividend which will be paid on Thursday, January 2nd. Stockholders of record on Thursday, December 26th will be given a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 7.98%. The ex-dividend date is Thursday, December 26th. Armada Hoffler Properties’s payout ratio is presently -390.48%.

Wall Street Analyst Weigh In

AHH has been the subject of several research analyst reports. StockNews.com downgraded shares of Armada Hoffler Properties from a “hold” rating to a “sell” rating in a report on Tuesday, October 22nd. Stifel Nicolaus upped their price target on shares of Armada Hoffler Properties from $12.50 to $12.75 and gave the company a “buy” rating in a research report on Tuesday, November 5th.

Armada Hoffler Properties Stock Performance

The company’s 50 day moving average is $10.99 and its 200-day moving average is $11.31. The firm has a market capitalization of $1.04 billion, a P/E ratio of -48.90 and a beta of 1.03. The company has a quick ratio of 7.17, a current ratio of 7.17 and a debt-to-equity ratio of 2.00.

Armada Hoffler Properties (NYSE:AHH) last posted its earnings results on Monday, November 4th. The real estate investment trust reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.42). Armada Hoffler Properties had a negative return on equity of 1.18% and a negative net margin of 1.01%. The business had revenue of $68.60 million during the quarter, compared to analyst estimates of $65.01 million. During the same quarter in the prior year, the company earned $0.31 EPS. The company’s revenue was up 9.1% on a year-over-year basis. As a group, equities analysts anticipate that Armada Hoffler Properties, Inc. will post 1.27 EPS for the current year.

Insider Activity at Armada Hoffler Properties

In related news, Director Daniel A. Hoffler purchased 95,238 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The stock was bought at an average cost of $10.50 per share, with a total value of $999,999.00. Following the completion of the purchase, the director now directly owns 266,647 shares in the company, valued at approximately $2,799,793.50. This represents a 55.56 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Dennis H. Gartman purchased 4,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was bought at an average price of $10.85 per share, for a total transaction of $48,825.00. Following the purchase, the director now directly owns 27,149 shares in the company, valued at $294,566.65. The trade was a 19.87 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 104,238 shares of company stock worth $1,097,649. Corporate insiders own 11.90% of the company’s stock.

Hedge Funds Weigh In On Armada Hoffler Properties

Several hedge funds and other institutional investors have recently modified their holdings of AHH. Vision Capital Corp purchased a new stake in Armada Hoffler Properties in the 3rd quarter worth $11,913,000. Great Lakes Advisors LLC purchased a new stake in Armada Hoffler Properties in the second quarter worth about $2,961,000. Franklin Resources Inc. boosted its position in Armada Hoffler Properties by 8.9% during the 3rd quarter. Franklin Resources Inc. now owns 1,932,663 shares of the real estate investment trust’s stock valued at $20,989,000 after acquiring an additional 158,625 shares in the last quarter. FMR LLC grew its position in shares of Armada Hoffler Properties by 6.4% in the 3rd quarter. FMR LLC now owns 2,337,275 shares of the real estate investment trust’s stock worth $25,313,000 after buying an additional 140,964 shares during the last quarter. Finally, Seven Grand Managers LLC purchased a new stake in shares of Armada Hoffler Properties during the third quarter worth about $1,451,000. 66.35% of the stock is owned by institutional investors.

About Armada Hoffler Properties

Armada Hoffler Properties, Inc (the “Company”) is a vertically integrated, self-managed real estate investment trust (“REIT”) 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.