State of New Jersey Common Pension Fund D Trims Stock Position in Armada Hoffler Properties, Inc. (NYSE:AHH)

State of New Jersey Common Pension Fund D trimmed its stake in Armada Hoffler Properties, Inc. (NYSE:AHH) by 4.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 161,793 shares of the real estate investment trust’s stock after selling 8,367 shares during the period. State of New Jersey Common Pension Fund D owned 0.18% of Armada Hoffler Properties worth $1,752,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. M&G PLC purchased a new position in shares of Armada Hoffler Properties in the 3rd quarter valued at approximately $188,000. Asset Management One Co. Ltd. lifted its position in Armada Hoffler Properties by 1.7% during the third quarter. Asset Management One Co. Ltd. now owns 97,243 shares of the real estate investment trust’s stock valued at $1,053,000 after buying an additional 1,642 shares during the period. Van ECK Associates Corp lifted its position in Armada Hoffler Properties by 12.3% during the third quarter. Van ECK Associates Corp now owns 11,403 shares of the real estate investment trust’s stock valued at $126,000 after buying an additional 1,251 shares during the period. New York State Teachers Retirement System boosted its holdings in shares of Armada Hoffler Properties by 6.0% during the 3rd quarter. New York State Teachers Retirement System now owns 94,895 shares of the real estate investment trust’s stock valued at $1,028,000 after buying an additional 5,408 shares in the last quarter. Finally, abrdn plc grew its position in shares of Armada Hoffler Properties by 10.5% in the 3rd quarter. abrdn plc now owns 13,856 shares of the real estate investment trust’s stock worth $150,000 after buying an additional 1,322 shares during the period. Institutional investors own 66.35% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on AHH. Stifel Nicolaus lifted 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. StockNews.com cut Armada Hoffler Properties from a “hold” rating to a “sell” rating in a research report on Tuesday, October 22nd.

Armada Hoffler Properties Price Performance

AHH opened at $11.08 on Tuesday. Armada Hoffler Properties, Inc. has a 1 year low of $10.02 and a 1 year high of $13.11. The stock has a 50-day moving average price of $11.22 and a 200-day moving average price of $11.37. The firm has a market cap of $1.12 billion, a PE ratio of -52.74 and a beta of 1.03. The company has a debt-to-equity ratio of 2.00, a current ratio of 7.17 and a quick ratio of 7.49.

Armada Hoffler Properties (NYSE:AHH) last issued its earnings results on Monday, November 4th. The real estate investment trust reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $68.60 million during the quarter, compared to the consensus estimate of $65.01 million. During the same quarter in the prior year, the company posted $0.31 EPS. The company’s quarterly revenue was up 9.1% on a year-over-year basis. Sell-side analysts predict that Armada Hoffler Properties, Inc. will post 1.27 earnings per share for the current fiscal year.

Armada Hoffler Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Wednesday, September 25th were issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 7.40%. The ex-dividend date was Wednesday, September 25th. Armada Hoffler Properties’s payout ratio is -390.46%.

Insider Transactions at Armada Hoffler Properties

In related news, Director Daniel A. Hoffler bought 95,238 shares of the firm’s stock in a transaction on Thursday, September 26th. The stock was acquired at an average cost of $10.50 per share, for a total transaction of $999,999.00. Following the purchase, the director now 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dennis H. Gartman purchased 4,500 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were purchased at an average cost of $10.85 per share, for a total transaction of $48,825.00. Following the completion of the acquisition, the director now directly owns 27,149 shares in the company, valued at approximately $294,566.65. This trade represents a 19.87 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 11.90% of the company’s stock.

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.