In a report released yesterday, Craig Kucera from B.Riley FBR reiterated a Buy rating on Armada Hoffler Properties (NYSE: AHH), with a price target of $16.50. The company’s shares opened today at $14.86.
Kucera wrote:
“We are maintaining our Buy rating on Armada Hoffler Properties, Inc. (AHH) and our $16.50 price target but adjusting our estimates post AHH’s announcement that an expected option sale (and eventual disposition of the underlying property) was renegotiated in order for the project to become stabilized and achieve a better valuation. The net effect of this renegotiation is a $0.05 reduction to our 2018 NFFO estimate (from $1.07 to $1.02) as the option gain is expected to be recognized over four quarters (vs. our prior expectation of a 3Q18 recognition); however, we are increasing our 2019 NFFO estimate from $1.14 to $1.22 due to incremental recognition of the option gain as well as higher mezzanine loan income.”
According to TipRanks.com, Kucera is a 4-star analyst with an average return of 5.2% and a 64.1% success rate. Kucera covers the Financial sector, focusing on stocks such as NexPoint Residential Trust Inc, Urstadt Biddle Properties Inc, and Consolidated-Tomoka Land Co.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Armada Hoffler Properties with a $15.50 average price target.
See today’s analyst top recommended stocks >>
The company has a one-year high of $16.17 and a one-year low of $12.73. Currently, Armada Hoffler Properties has an average volume of 263.7K.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Armada Hoffler Properties, Inc. operates as a real estate company. It develops, builds, owns and manages institutional-grade office, retail and multifamily properties in the Mid-Atlantic United States. The firm operates through the following business segments: Office, Retail, Multifamily, and General Contracting & Real Estate Services.
