Armada Hoffler Properties, Inc. (AHH) Expected to Announce Quarterly Sales of $27.19 Million
Brokerages expect Armada Hoffler Properties, Inc. (NYSE:AHH) to report $27.19 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Armada Hoffler Properties’ earnings, with the lowest sales estimate coming in at $26.70 million and the highest estimate coming in at $27.40 million. Armada Hoffler Properties posted sales of $24.25 million in the same quarter last year, which would suggest a positive year over year growth rate of 12.1%. The company is scheduled to report its next quarterly earnings results before the market opens on Tuesday, August 1st.
On average, analysts expect that Armada Hoffler Properties will report full year sales of $27.19 million for the current year, with estimates ranging from $108.20 million to $112.25 million. For the next year, analysts expect that the company will post sales of $116.88 million per share, with estimates ranging from $109.90 million to $121.79 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Armada Hoffler Properties.
Armada Hoffler Properties (NYSE:AHH) last posted its quarterly earnings results on Tuesday, May 2nd. The real estate investment trust reported $0.26 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.01. The business had revenue of $27.20 million during the quarter, compared to the consensus estimate of $26.87 million. Armada Hoffler Properties had a return on equity of 7.69% and a net margin of 8.64%. The company’s revenue for the quarter was up 16.7% on a year-over-year basis.
A number of equities analysts recently weighed in on the company. BidaskClub raised Armada Hoffler Properties from a “sell” rating to a “hold” rating in a report on Wednesday. Zacks Investment Research raised Armada Hoffler Properties from a “strong sell” rating to a “hold” rating in a report on Wednesday. FBR & Co reissued an “outperform” rating and set a $15.00 price objective on shares of Armada Hoffler Properties in a report on Tuesday, July 11th. ValuEngine cut Armada Hoffler Properties from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. Finally, Robert W. Baird reissued an “outperform” rating and set a $15.00 price objective on shares of Armada Hoffler Properties in a report on Friday, July 14th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $14.92.
In other news, CEO Louis S. Haddad purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 23rd. The shares were bought at an average cost of $13.39 per share, for a total transaction of $133,900.00. Following the completion of the transaction, the chief executive officer now directly owns 252,221 shares of the company’s stock, valued at approximately $3,377,239.19. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 20.87% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in AHH. Cambridge Investment Research Advisors Inc. boosted its stake in Armada Hoffler Properties by 0.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 12,035 shares of the real estate investment trust’s stock worth $167,000 after buying an additional 87 shares during the period. Metropolitan Life Insurance Co. NY boosted its stake in Armada Hoffler Properties by 0.8% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 28,556 shares of the real estate investment trust’s stock worth $416,000 after buying an additional 223 shares during the period. Envestnet Asset Management Inc. boosted its stake in Armada Hoffler Properties by 2.4% in the first quarter. Envestnet Asset Management Inc. now owns 10,738 shares of the real estate investment trust’s stock worth $149,000 after buying an additional 252 shares during the period. California Public Employees Retirement System boosted its stake in Armada Hoffler Properties by 0.3% in the first quarter. California Public Employees Retirement System now owns 117,800 shares of the real estate investment trust’s stock worth $1,636,000 after buying an additional 400 shares during the period. Finally, IFP Advisors Inc boosted its stake in Armada Hoffler Properties by 4.4% in the first quarter. IFP Advisors Inc now owns 17,638 shares of the real estate investment trust’s stock worth $245,000 after buying an additional 741 shares during the period. 61.55% of the stock is currently owned by institutional investors and hedge funds.
Shares of Armada Hoffler Properties (NYSE:AHH) traded up 1.67% on Thursday, reaching $13.43. The company’s stock had a trading volume of 70,352 shares. The stock has a market cap of $507.83 million, a P/E ratio of 28.16 and a beta of 0.53. The firm’s 50-day moving average price is $13.36 and its 200-day moving average price is $13.74. Armada Hoffler Properties has a 12 month low of $12.52 and a 12 month high of $15.50.
The company also recently declared a quarterly dividend, which was paid on Thursday, July 6th. Investors of record on Wednesday, June 28th were given a dividend of $0.19 per share. The ex-dividend date was Monday, June 26th. This represents a $0.76 annualized dividend and a dividend yield of 5.75%. Armada Hoffler Properties’s dividend payout ratio is presently 165.22%.
About Armada Hoffler Properties
Armada Hoffler Properties, Inc is a real estate company. The Company is engaged in developing, building, owning and managing institutional-grade office, retail and multifamily properties in various markets throughout the Mid-Atlantic and Southeastern United States. In addition to the ownership of its operating property portfolio, the Company develops and builds properties for its own account and through joint ventures between the Company and unaffiliated partners.
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