UPDATE: Jefferies Starts Armada Hoffler Properties (AHH) at Buy

July 23, 2021 4:13 AM EDT
Get Alerts AHH Hot Sheet
Price: $13.24 --0%

Rating Summary:
    5 Buy, 4 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 7 | Down: 13 | New: 24
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(Updated - July 23, 2021 7:48 AM EDT)

Jefferies analyst Peter Abramowitz initiates coverage on Armada Hoffler Properties (NYSE: AHH) with a Buy rating and a price target of $15.00.

The analyst comments "While meaningful FFO/sh growth is still a few years off as a wave of development hits in '23-24, we believe baseline expectations are too low going into '22, as our FFO/sh estimate is 7.5% above consensus. We look to '22 guidance (next Feb) as a catalyst for the stock to re-rate more in line with respective subsector comps (our $15 PT implies 14.6x FFO), and could see even further upside as the ramp in FFO/sh growth comes into view. Initiate at Buy."

For an analyst ratings summary and ratings history on Armada Hoffler Properties click here. For more ratings news on Armada Hoffler Properties click here.

Shares of Armada Hoffler Properties closed at $12.93 yesterday.

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