American Homes 4 Rent (NYSE:AMH) PT Raised to $42.00 at Royal Bank of Canada

American Homes 4 Rent (NYSE:AMH) had its price target raised by Royal Bank of Canada from $41.00 to $42.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an outperform rating on the real estate investment trust’s stock.

Several other research firms have also issued reports on AMH. Keefe, Bruyette & Woods increased their target price 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. JPMorgan Chase & Co. upped their price target on American Homes 4 Rent from $37.00 to $38.00 and gave the stock a neutral rating in a report on Monday, June 17th. Scotiabank upped their price target on American Homes 4 Rent from $39.00 to $41.00 and gave the stock a sector outperform rating in a report on Thursday, May 16th. Evercore ISI upped their price target on 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, StockNews.com downgraded American Homes 4 Rent from a hold rating to a sell rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $39.86.

American Homes 4 Rent Stock Performance

Shares of American Homes 4 Rent stock opened at $38.34 on Monday. American Homes 4 Rent has a 52 week low of $31.36 and a 52 week high of $38.91. The business’s fifty day simple moving average is $36.40 and its 200-day simple moving average is $36.02. The firm has a market cap of $14.04 billion, a PE ratio of 39.12, a price-to-earnings-growth ratio of 3.10 and a beta of 0.74. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.58.

American Homes 4 Rent (NYSE:AMH) last posted its earnings results on Thursday, August 1st. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.18). American Homes 4 Rent had a return on equity of 4.91% and a net margin of 21.83%. The firm had revenue of $423.50 million for the quarter, compared to analyst estimates of $422.46 million. During the same period in the previous year, the company posted $0.41 EPS. American Homes 4 Rent’s revenue was up 7.1% on a year-over-year basis. Equities analysts forecast that American Homes 4 Rent will post 1.74 earnings per share for the current year.

Hedge Funds Weigh In On American Homes 4 Rent

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in American Homes 4 Rent by 2.5% during the first quarter. Vanguard Group Inc. now owns 45,673,416 shares of the real estate investment trust’s stock worth $1,679,868,000 after buying an additional 1,094,714 shares in the last quarter. Norges Bank purchased a new position in American Homes 4 Rent during the fourth quarter worth $789,947,000. Principal Financial Group Inc. grew its position in shares of American Homes 4 Rent by 0.4% in the fourth quarter. Principal Financial Group Inc. now owns 17,007,767 shares of the real estate investment trust’s stock valued at $611,599,000 after purchasing an additional 73,599 shares during the period. Cohen & Steers Inc. grew its position in shares of American Homes 4 Rent by 41.0% in the fourth quarter. Cohen & Steers Inc. now owns 8,862,999 shares of the real estate investment trust’s stock valued at $318,755,000 after purchasing an additional 2,575,854 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in shares of American Homes 4 Rent by 6.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,830,756 shares of the real estate investment trust’s stock valued at $324,798,000 after purchasing an additional 507,307 shares during the period. Hedge funds and other institutional investors own 91.87% of the company’s stock.

About American Homes 4 Rent

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.