Armada Hoffler Properties, Inc. (NYSE: AHH) Short Interest Up 142.4% in January
Armada Hoffler Properties, Inc. (NYSE: AHH) was the target of a significant increase in short interest in January. As of January 15, there was short interest totaling 1,130,000 shares, an increase of 142.4% from the total of 466,200 shares as of December 31. Based on an average daily trading volume of 427,800 shares, the day-to-cover ratio is currently 2.6 days.
A number of stock analysts have recently released reports on AHH shares. Bank of America downgraded Armada Hoffler Properties from a “neutral” rating to an “underperforming” rating and lowered its price target for the company from $14.00 to $13.50 in a Monday, October 25 report . Robert W. Baird reaffirmed a “buy” rating and issued a $15.00 price target on shares of Armada Hoffler Properties in a Thursday, December 30 report. Finally, Zacks Investment Research downgraded Armada Hoffler Properties from a “buy” rating to a “hold” rating in a Thursday, January 13 report. One equity research analyst assigned the stock a sell rating, another assigned a hold rating and four assigned the company’s stock a buy rating. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $15.08.
Institutional investors and hedge funds have recently changed their holdings in the company. Pacitti Group Inc. increased its position in Armada Hoffler Properties by 71.3% in the second quarter. Pacitti Group Inc. now owns 2,141 shares of the real estate investment trust worth $28,000 after buying 891 additional shares in the last quarter. NEXT Financial Group Inc acquired a new stake in shares of Armada Hoffler Properties in Q3, valued at approximately $41,000. Bbva USA acquired a new equity stake in Armada Hoffler Properties in Q3 valued at approximately $64,000. Van ECK Associates Corp increased its holdings of Armada Hoffler Properties shares by 66.9% in the fourth quarter. Van ECK Associates Corp now owns 4,700 shares of the real estate investment trust valued at $72,000 after acquiring 1,884 additional shares in the last quarter. Finally, M&G Investment Management Ltd. bought a new position in Armada Hoffler Properties during the second quarter worth approximately $132,000. 64.82% of the shares are held by institutional investors and hedge funds.
Shares of AHH rose $0.35 midday Friday, hitting $13.66. The stock recorded a trading volume of 663,392 shares, compared to an average volume of 627,373 shares. Armada Hoffler Properties has a 52 week low of $10.62 and a 52 week high of $15.80. The company has a debt ratio of 1.81, a current ratio of 7.38 and a quick ratio of 7.38. The company’s 50-day moving average price is $14.59 and its 200-day moving average price is $13.92. The company has a market capitalization of $1.19 billion, a P/E ratio of 71.90, a P/E/G ratio of 10.40 and a beta of 0.79.
Armada Hoffler Properties Inc (NYSE:AHH) last announced its results on Tuesday, November 2. The real estate investment trust reported earnings per share (EPS) of $0.06 for the quarter, beating analyst consensus estimates of $0.05 by $0.01. Armada Hoffler Properties had a return on equity of 4.56% and a net margin of 8.62%. The company posted revenue of $49.56 million for the quarter, versus analyst estimates of $48.28 million. In the same period a year earlier, the company earned earnings per share of $0.24. On average, stock analysts expect Armada Hoffler Properties to post 1.06 earnings per share for the current year.
About Armada Hoffler Properties
Armada Hoffler Properties, Inc. is a real estate company that develops, builds, owns and manages institutional quality office, retail and multi-family properties in the Mid-Atlantic United States. It operates through the following segments: Office Real Estate, Retail Real Estate, Multi-Family Residential Real Estate, General Contracting and Real Estate Services.
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