1832 Asset Management L.P. Acquires Shares of 66,000 American Homes 4 Rent (NYSE:AMH)

1832 Asset Management L.P. bought a new position in shares of American Homes 4 Rent (NYSE:AMH) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 66,000 shares of the real estate investment trust’s stock, valued at approximately $2,427,000.

A number of other large investors have also recently made changes to their positions in the stock. Texas Permanent School Fund Corp bought a new position in American Homes 4 Rent in the first quarter worth approximately $10,238,000. Mutual of America Capital Management LLC purchased a new stake in American Homes 4 Rent in the first quarter worth about $6,970,000. Los Angeles Capital Management LLC bought a new position in American Homes 4 Rent during the 1st quarter worth about $5,711,000. Scissortail Wealth Management LLC purchased a new position in American Homes 4 Rent during the 4th quarter valued at about $801,000. Finally, Wells Fargo & Company MN increased its position in American Homes 4 Rent by 67.6% during the 4th quarter. Wells Fargo & Company MN now owns 820,711 shares of the real estate investment trust’s stock valued at $29,513,000 after purchasing an additional 331,168 shares during the period. 91.87% of the stock is owned by hedge funds and other institutional investors.

American Homes 4 Rent Stock Performance

NYSE AMH traded up $0.52 on Friday, hitting $35.39. 3,001,803 shares of the company’s stock traded hands, compared to its average volume of 2,223,639. The firm’s 50-day moving average price is $36.26 and its two-hundred day moving average price is $35.94. The firm has a market capitalization of $12.96 billion, a PE ratio of 36.11, a P/E/G ratio of 2.98 and a beta of 0.74. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.58. American Homes 4 Rent has a 1-year low of $31.36 and a 1-year high of $37.97.

American Homes 4 Rent (NYSE:AMH) last announced its quarterly earnings results on Friday, May 10th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.13). American Homes 4 Rent had a return on equity of 5.00% and a net margin of 22.55%. The company had revenue of $423.56 million for the quarter, compared to analyst estimates of $421.28 million. During the same period in the prior year, the business posted $0.41 earnings per share. American Homes 4 Rent’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, analysts expect that American Homes 4 Rent will post 1.74 EPS for the current year.

American Homes 4 Rent Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend was Friday, June 14th. American Homes 4 Rent’s dividend payout ratio is currently 106.12%.

Insider Buying and Selling

In other news, Director Douglas N. Benham bought 3,500 shares of the stock in a transaction dated Wednesday, May 8th. The shares were acquired at an average cost of $23.00 per share, with a total value of $80,500.00. Following the purchase, the director now directly owns 37,997 shares in the company, valued at approximately $873,931. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other American Homes 4 Rent news, Director Douglas N. Benham acquired 3,500 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were bought at an average cost of $23.00 per share, with a total value of $80,500.00. Following the completion of the acquisition, the director now owns 37,997 shares in the company, valued at $873,931. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jack E. Corrigan bought 10,000 shares of American Homes 4 Rent stock in a transaction dated Monday, May 6th. The shares were acquired at an average cost of $22.78 per share, with a total value of $227,800.00. Following the completion of the purchase, the director now owns 10,000 shares in the company, valued at $227,800. The disclosure for this purchase can be found here. 6.32% of the stock is currently owned by insiders.

Analysts Set New Price Targets

AMH has been the topic of several research reports. JPMorgan Chase & Co. lifted their price objective on shares of American Homes 4 Rent from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Monday, June 17th. Keefe, Bruyette & Woods upped their price objective on American Homes 4 Rent from $38.00 to $39.00 and gave the stock a “market perform” rating in a research note on Monday, May 13th. StockNews.com upgraded American Homes 4 Rent from a “sell” rating to a “hold” rating in a research note on Friday, July 12th. Evercore ISI boosted their target price on shares of American Homes 4 Rent from $38.00 to $39.00 and gave the stock an “in-line” rating in a report on Tuesday, July 9th. Finally, Scotiabank raised their price target on shares of American Homes 4 Rent from $39.00 to $41.00 and gave the company a “sector outperform” rating in a report on Thursday, May 16th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $39.73.

American Homes 4 Rent Profile

AMH (NYSE: AMH) is a leading large-scale integrated owner, operator and developer of single-family rental homes. We're an internally managed Maryland real estate investment trust (REIT) focused on acquiring, developing, renovating, leasing and managing homes as rental properties. Our goal is to simplify the experience of leasing a home and deliver peace of mind to households across the country.