Armada Hoffler Properties, Inc. (NYSE:AHH) Shares Sold by Phocas Financial Corp.

Phocas Financial Corp. trimmed its holdings in Armada Hoffler Properties, Inc. (NYSE:AHH) by 6.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 667,761 shares of the real estate investment trust’s stock after selling 43,493 shares during the quarter. Phocas Financial Corp.’s holdings in Armada Hoffler Properties were worth $7,232,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the business. Point72 DIFC Ltd acquired a new position in Armada Hoffler Properties during the 2nd quarter worth $46,000. KBC Group NV raised its stake in shares of Armada Hoffler Properties by 66.0% during the third quarter. KBC Group NV now owns 4,934 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 1,962 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Armada Hoffler Properties in the second quarter worth about $55,000. Quarry LP grew its position in Armada Hoffler Properties by 446.4% in the 2nd quarter. Quarry LP now owns 5,863 shares of the real estate investment trust’s stock valued at $65,000 after buying an additional 4,790 shares in the last quarter. Finally, Versor Investments LP acquired a new position in Armada Hoffler Properties during the 3rd quarter valued at about $108,000. 66.35% of the stock is currently owned by institutional investors and hedge funds.

Armada Hoffler Properties Stock Performance

Shares of NYSE:AHH opened at $11.08 on Tuesday. The company has a current ratio of 7.17, a quick ratio of 7.17 and a debt-to-equity ratio of 2.00. The stock has a fifty day moving average of $11.22 and a 200-day moving average of $11.37. Armada Hoffler Properties, Inc. has a one year low of $10.02 and a one year high of $13.11.

Armada Hoffler Properties (NYSE:AHH) last released its earnings results on Monday, November 4th. The real estate investment trust reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.42). The business had revenue of $68.60 million for the quarter, compared to analysts’ expectations of $65.01 million. Armada Hoffler Properties had a negative net margin of 1.01% and a negative return on equity of 1.18%. The company’s revenue was up 9.1% compared to the same quarter last year. During the same period last year, the firm earned $0.31 EPS. Research analysts forecast that Armada Hoffler Properties, Inc. will post 1.27 EPS for the current year.

Armada Hoffler Properties Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages recently commented on AHH. Stifel Nicolaus boosted their target price 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 downgraded Armada Hoffler Properties from a “hold” rating to a “sell” rating in a research note on Tuesday, October 22nd.

Insider Activity

In other Armada Hoffler Properties news, Director Daniel A. Hoffler purchased 95,238 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was purchased at an average price of $10.50 per share, with a total value of $999,999.00. Following the completion of the transaction, the director now directly owns 266,647 shares of the company’s stock, valued at approximately $2,799,793.50. This trade represents a 55.56 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dennis H. Gartman purchased 4,500 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were acquired at an average price of $10.85 per share, with a total value of $48,825.00. Following the purchase, the director now owns 27,149 shares of the company’s stock, 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. 11.90% of the stock is currently owned by company insiders.

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.