Comstock Holding Companies (NASDAQ:CHCI) Announces Earnings Results

Comstock Holding Companies (NASDAQ:CHCI) released its quarterly earnings data on Thursday. The construction company reported $0.06 earnings per share (EPS) for the quarter, FiscalAI reports. Comstock Holding Companies had a net margin of 32.16% and a return on equity of 35.60%. The company had revenue of $17.86 million during the quarter.

Comstock Holding Companies Stock Performance

NASDAQ:CHCI traded down $1.36 during mid-day trading on Thursday, reaching $18.61. The stock had a trading volume of 36,764 shares, compared to its average volume of 27,179. The firm has a market capitalization of $191.31 million, a price-to-earnings ratio of 7.89 and a beta of -0.42. Comstock Holding Companies has a twelve month low of $10.14 and a twelve month high of $22.07. The business has a 50 day simple moving average of $19.13 and a 200 day simple moving average of $16.08.

Hedge Funds Weigh In On Comstock Holding Companies

Several institutional investors and hedge funds have recently added to or reduced their stakes in CHCI. Pekin Hardy Strauss Inc. purchased a new position in Comstock Holding Companies in the third quarter worth $568,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Comstock Holding Companies during the 2nd quarter worth $45,000. Navellier & Associates Inc. boosted its position in shares of Comstock Holding Companies by 159.2% during the 2nd quarter. Navellier & Associates Inc. now owns 37,569 shares of the construction company’s stock worth $601,000 after purchasing an additional 23,072 shares in the last quarter. Corsair Capital Management L.P. grew its stake in shares of Comstock Holding Companies by 8.4% during the 1st quarter. Corsair Capital Management L.P. now owns 49,236 shares of the construction company’s stock worth $933,000 after purchasing an additional 3,800 shares during the period. Finally, Renaissance Technologies LLC grew its stake in shares of Comstock Holding Companies by 1.8% during the 1st quarter. Renaissance Technologies LLC now owns 180,479 shares of the construction company’s stock worth $3,418,000 after purchasing an additional 3,213 shares during the period. Institutional investors and hedge funds own 6.45% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CHCI shares. Wall Street Zen upgraded Comstock Holding Companies from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 12th. Weiss Ratings upgraded Comstock Holding Companies from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, October 16th. One research analyst has rated the stock with a Buy rating. According to data from MarketBeat.com, the stock presently has an average rating of “Buy”.

About Comstock Holding Companies

Comstock Holding Companies, Inc is a real estate development and asset management company focused on mixed-use and transit-oriented properties. The company plans, develops, owns, operates and manages residential, office, retail, entertainment and hospitality assets, with an emphasis on creating walkable, amenity-rich communities.

Comstock’s activities are concentrated primarily in the Washington, DC, metropolitan area, particularly Northern Virginia. Its portfolio and development projects have included large-scale urban communities such as Reston Station, which combines multifamily housing, office space, retail, dining, entertainment and public amenities near major transportation infrastructure.

The company has a history dating to the 1980s and has evolved from a residential and land development business into an integrated real estate platform.