Reviewing The Case For Armada Hoffler Properties Inc. (NYSE: AHH) Going Higher

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The Vanguard Group, Inc. recently announced the acquisition of new stake in Armada Hoffler Properties Inc. (NYSE:AHH). The institutional investor has increased its shareholding in the Real Estate company by 2.99% to 6.19 million shares with purchase of 0.18 million shares. This fresh investment now brings its stake to 10.95% valued currently at $53.33 million. In addition, Renaissance Technologies LLC raised its holdings by 0.17 million to 3.85 million shares. And SSgA Funds Management, Inc. has lifted its position by 18.00% or 0.39 million shares – to 2.57 million shares.

With over 0.23 million Armada Hoffler Properties Inc. (AHH) shares trading Friday and a closing price of $9.44 on the day, the dollar volume was approximately $2.22 million. The shares have shown a negative weekly performance of -6.35% and its price on 07/10/20 gained nearly 2.72%. Currently, there are 56.40M common shares owned by the public and among those 55.40M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 6 analysts who have offered their price forecasts for AHH have a consensus price objective of $10.60. The analysts have set the share’s price value over the next 12 months at a high of $12.00 and a low of $9.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Armada Hoffler Properties Inc. stock is 2.30 for the next 12 months. The average price target is 10.94% above its last price level and an upside to the estimated low will see the stock lose -4.89% over that period. But an upside of 21.33% will see the stock hit the forecast high price target while mean target price for the stock is $11.00.

Insiders at the company have transacted a total of 34 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 28 of these insider trades were purchases, accounting for 338,890 shares. Insider sales of the common stock occurred on 6 occasions, with total insider shares sold totaling 27,660 shares.

The top 3 mutual fund holders in Armada Hoffler Properties Inc. are iShares Core S&P Small Cap ETF, Vanguard Real Estate Index Fund, and Delaware Small Cap Core Fund. iShares Core S&P Small Cap ETF owns 3.32 million shares of the company’s stock, all valued at over $28.65 million. The company bought an additional 1470.0 shares recently to bring their total holdings to about 5.88% of the shares outstanding. Vanguard Real Estate Index Fund sold 1264.0 shares to see its total holdings shrink to 2.53 million shares valued at over $21.78 million and representing 4.47% of the shares outstanding. Delaware Small Cap Core Fund bought 0.11 million shares to bring its total holdings to over 1.87 million shares at a value of $16.13 million. Delaware Small Cap Core Fund now owns shares totaling to 3.31% of the shares outstanding.

Shares of Armada Hoffler Properties Inc. (NYSE: AHH) opened at $9.13, down -$0.06 from a prior closing price of $9.19. However, the script later closed the day at $9.44, up 2.72%. The company’s stock has a 5-day price change of -6.35% and -17.98% over the past three months. AHH shares are trading -48.56% year to date (YTD), with the 12-month market performance down to -42.96% lower. It has a 12-month low price of $6.40 and touched a high of $19.43 over the same period. Currently, 0.23 million shares have been traded, compared to an average intraday trading volume of 556.30K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -0.82%, 4.39%, and -34.58% respectively.

Institutional ownership of Armada Hoffler Properties Inc. (NYSE: AHH) shares accounts for 90.50% of the company’s 56.40M shares outstanding. Mutual fund holders own 44.55%, while other institutional holders and individual stakeholders account for 44.67% and 1.92% respectively.

It has a market capitalization of $539.59M and a beta (3y monthly) value of 0.71. The stock’s trailing 12-month PE ratio is 22.69, while the earnings-per-share (ttm) stands at $0.42. The company has a PEG of 4.54 and the debt-to-equity ratio at 3.07. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.15% over the week and 4.92% over the month.

Analysts forecast that Armada Hoffler Properties Inc. (AHH) will achieve an EPS of $0.09 for the current quarter, $0.08 for the next quarter and $0.48 for 2021. The lowest estimate earnings-per-share for the quarter is $0.08 while analysts give the company a high EPS estimate of $0.11. Comparatively, EPS for the current quarter was $0.1 a year ago. Earnings per share for the fiscal year are expected to increase by 53.00%, and 29.33% over the next financial year. EPS should grow at an annualized rate of 5.00% over the next five years, compared to 2.10% over the past 5-year period.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 6 brokerage firm advisors rate Armada Hoffler Properties Inc. (AHH) as a “Moderate Buy” at a consensus score of 2.30. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 4 of the 6 advise that investors “hold,” and 0 rated it as a “Sell.”

Looking at the support for the AHH, a number of firms have released research notes about the stock. Stifel stated their Hold rating for the stock in a research note on June 25, 2020, with the firm’s price target at $8-$9. BofA/Merrill coverage for the Armada Hoffler Properties Inc. (AHH) stock in a research note released on April 27, 2020 offered a Neutral rating with a price target of $8.50. Stifel was of a view on April 13, 2020 that the stock is Sell, while DA Davidson gave the stock Neutral rating on March 23, 2020, issuing a price target of. Raymond James on their part issued Mkt Perform rating on January 08, 2018.

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