Principal Financial Group Inc. Sells 799,506 Shares of American Homes 4 Rent (NYSE:AMH)

Principal Financial Group Inc. decreased its position in American Homes 4 Rent (NYSE:AMH) by 5.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,971,791 shares of the real estate investment trust’s stock after selling 799,506 shares during the quarter. Principal Financial Group Inc. owned approximately 4.09% of American Homes 4 Rent worth $574,766,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Maryland Capital Advisors Inc. bought a new position in American Homes 4 Rent in the third quarter valued at about $25,000. UMB Bank n.a. lifted its holdings in American Homes 4 Rent by 331.9% in the third quarter. UMB Bank n.a. now owns 786 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 604 shares during the period. V Square Quantitative Management LLC bought a new position in American Homes 4 Rent in the second quarter valued at about $32,000. Wetzel Investment Advisors Inc. bought a new position in American Homes 4 Rent in the second quarter valued at about $44,000. Finally, Catalyst Capital Advisors LLC bought a new position in American Homes 4 Rent in the third quarter valued at about $53,000. Institutional investors own 91.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. The Goldman Sachs Group assumed coverage on American Homes 4 Rent in a research report on Wednesday, September 4th. They issued a “buy” rating and a $48.00 price target for the company. Keefe, Bruyette & Woods reduced their price target on American Homes 4 Rent from $39.00 to $38.00 and set a “market perform” rating for the company in a research report on Wednesday. UBS Group upped their price target on American Homes 4 Rent from $37.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Mizuho upped their price target on American Homes 4 Rent from $39.00 to $40.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Finally, Wells Fargo & Company upgraded American Homes 4 Rent from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $36.00 to $42.00 in a research report on Monday, August 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, American Homes 4 Rent has an average rating of “Moderate Buy” and a consensus price target of $41.53.

American Homes 4 Rent Stock Performance

NYSE AMH opened at $36.37 on Thursday. The stock has a market capitalization of $13.33 billion, a PE ratio of 37.89, a P/E/G ratio of 2.90 and a beta of 0.77. The business has a 50 day simple moving average of $38.48 and a two-hundred day simple moving average of $37.29. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.58 and a quick ratio of 0.58. American Homes 4 Rent has a 1-year low of $33.75 and a 1-year high of $41.41.

American Homes 4 Rent (NYSE:AMH) last released its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.23). The firm had revenue of $445.06 million for the quarter, compared to analysts’ expectations of $443.81 million. American Homes 4 Rent had a net margin of 21.51% and a return on equity of 4.76%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.41 EPS. On average, research analysts predict that American Homes 4 Rent will post 1.77 EPS for the current fiscal year.

American Homes 4 Rent Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend was Friday, September 13th. American Homes 4 Rent’s payout ratio is 108.33%.

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.