Sumitomo Mitsui Trust Group Inc. Boosts Position in Armada Hoffler Properties, Inc. (NYSE:AHH)

Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Armada Hoffler Properties, Inc. (NYSE:AHH) by 17.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 82,425 shares of the real estate investment trust’s stock after buying an additional 12,304 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.08% of Armada Hoffler Properties worth $843,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. State of Alaska Department of Revenue grew its holdings in Armada Hoffler Properties by 17.4% during the 4th quarter. State of Alaska Department of Revenue now owns 83,040 shares of the real estate investment trust’s stock valued at $848,000 after buying an additional 12,290 shares in the last quarter. Yousif Capital Management LLC grew its holdings in Armada Hoffler Properties by 10.3% during the 4th quarter. Yousif Capital Management LLC now owns 29,848 shares of the real estate investment trust’s stock valued at $305,000 after buying an additional 2,779 shares in the last quarter. abrdn plc grew its holdings in Armada Hoffler Properties by 30.6% during the 4th quarter. abrdn plc now owns 18,100 shares of the real estate investment trust’s stock valued at $182,000 after buying an additional 4,244 shares in the last quarter. Sound Income Strategies LLC purchased a new position in Armada Hoffler Properties during the 4th quarter valued at about $9,049,000. Finally, Inspire Investing LLC grew its holdings in Armada Hoffler Properties by 21.3% during the 4th quarter. Inspire Investing LLC now owns 46,207 shares of the real estate investment trust’s stock valued at $473,000 after buying an additional 8,104 shares in the last quarter. Hedge funds and other institutional investors own 66.35% of the company’s stock.

Armada Hoffler Properties Stock Performance

NYSE:AHH opened at $9.49 on Friday. The business has a 50 day moving average of $10.01 and a 200 day moving average of $10.90. The company has a market capitalization of $961.40 million, a price-to-earnings ratio of -45.16 and a beta of 1.03. Armada Hoffler Properties, Inc. has a 1-year low of $9.26 and a 1-year high of $12.46. The company has a debt-to-equity ratio of 2.00, a current ratio of 7.17 and a quick ratio of 7.17.

Armada Hoffler Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Thursday, December 26th were given a $0.205 dividend. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $0.82 dividend on an annualized basis and a yield of 8.65%. Armada Hoffler Properties’s payout ratio is -390.46%.

Insider Buying and Selling

In related news, Director Dennis H. Gartman acquired 4,500 shares of the stock in a transaction on Wednesday, December 11th. The stock was purchased at an average price of $10.85 per share, for a total transaction of $48,825.00. Following the completion of the transaction, the director now owns 31,649 shares of the company’s stock, valued at $343,391.65. This trade represents a 16.58 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 11.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

AHH has been the subject of several recent analyst reports. Stifel Nicolaus boosted their price objective on Armada Hoffler Properties from $12.50 to $12.75 and gave the stock a “buy” rating in a report on Tuesday, November 5th. StockNews.com lowered Armada Hoffler Properties from a “hold” rating to a “sell” rating in a report on Tuesday, October 22nd. Finally, Scotiabank initiated coverage on Armada Hoffler Properties in a report on Tuesday, January 28th. They set a “sector perform” rating and a $11.00 price objective for the company.

Armada Hoffler Properties Profile

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.