American Homes 4 Rent (AMH) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of American Homes 4 Rent (NYSE:AMH) from a sell rating to a hold rating in a research report report published on Wednesday, May 24th.

According to Zacks, “American Homes 4 Rent is an internally managed real estate investment trust. It is focused on acquiring, renovating, leasing, and operating single-family homes as rental properties. It rents residential properties primarily in Arizona, California, Florida, Georgia, and Nevada. American Homes 4 Rent is based in Malibu, California. “

AMH has been the topic of a number of other research reports. Credit Suisse Group initiated coverage on shares of American Homes 4 Rent in a research report on Monday, February 27th. They set a neutral rating and a $24.00 target price on the stock. FBR & Co reaffirmed a buy rating on shares of American Homes 4 Rent in a research report on Thursday, April 13th. Mizuho assumed coverage on shares of American Homes 4 Rent in a research note on Wednesday, February 8th. They set a neutral rating and a $23.00 price target on the stock. Finally, Keefe, Bruyette & Woods reiterated a hold rating and set a $24.00 price target on shares of American Homes 4 Rent in a research note on Friday, May 5th. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the company. American Homes 4 Rent has a consensus rating of Hold and a consensus price target of $24.06.

Shares of American Homes 4 Rent (NYSE:AMH) traded up 0.67% on Wednesday, hitting $22.57. 3,289,777 shares of the stock traded hands. The stock has a 50-day moving average price of $22.46 and a 200 day moving average price of $22.24. The stock’s market cap is $5.84 billion. American Homes 4 Rent has a 12-month low of $18.40 and a 12-month high of $23.98.

American Homes 4 Rent (NYSE:AMH) last released its quarterly earnings results on Thursday, May 4th. The real estate investment trust reported $0.26 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.26. American Homes 4 Rent had a net margin of 1.92% and a return on equity of 0.35%. The company had revenue of $233.80 million for the quarter, compared to analyst estimates of $227.11 million. During the same quarter last year, the firm posted $0.23 earnings per share. The company’s quarterly revenue was up 19.9% compared to the same quarter last year. On average, analysts anticipate that American Homes 4 Rent will post $0.07 earnings per share for the current fiscal year.

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The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 15th will be paid a $0.05 dividend. The ex-dividend date is Tuesday, June 13th. This represents a $0.20 annualized dividend and a dividend yield of 0.89%. American Homes 4 Rent’s dividend payout ratio is presently -133.32%.

In related news, Director B Wayne Et Al Hughes purchased 2,192,982 shares of American Homes 4 Rent stock in a transaction that occurred on Wednesday, March 22nd. The shares were acquired at an average price of $22.80 per share, for a total transaction of $49,999,989.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Tamara Hughes Gustavson purchased 462,123 shares of American Homes 4 Rent stock in a transaction that occurred on Tuesday, May 9th. The shares were bought at an average price of $22.21 per share, for a total transaction of $10,263,751.83. Following the transaction, the director now owns 13,600,665 shares in the company, valued at $302,070,769.65. The disclosure for this purchase can be found here. 27.82% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of AMH. Forward Management LLC increased its position in shares of American Homes 4 Rent by 2.2% in the third quarter. Forward Management LLC now owns 2,298,734 shares of the real estate investment trust’s stock valued at $49,745,000 after buying an additional 50,134 shares during the period. Daiwa Securities Group Inc. increased its position in shares of American Homes 4 Rent by 135,701.3% in the third quarter. Daiwa Securities Group Inc. now owns 8,702,150 shares of the real estate investment trust’s stock valued at $188,315,000 after buying an additional 8,695,742 shares during the period. Monashee Investment Management LLC bought a new position in shares of American Homes 4 Rent during the third quarter valued at about $15,689,000. BlackRock Investment Management LLC increased its position in shares of American Homes 4 Rent by 94.0% in the third quarter. BlackRock Investment Management LLC now owns 160,156 shares of the real estate investment trust’s stock valued at $3,466,000 after buying an additional 77,599 shares during the period. Finally, TIAA CREF Investment Management LLC increased its position in shares of American Homes 4 Rent by 36.8% in the third quarter. TIAA CREF Investment Management LLC now owns 321,229 shares of the real estate investment trust’s stock valued at $6,951,000 after buying an additional 86,328 shares during the period. Institutional investors and hedge funds own 93.81% of the company’s stock.

About American Homes 4 Rent

American Homes 4 Rent is an internally managed real estate investment trust (REIT) focused on acquiring, renovating, leasing and operating single-family homes as rental properties. The Company’s primary objective is to generate attractive risk-adjusted returns for its shareholders through dividends and capital appreciation by acquiring, renovating, leasing and operating single-family homes as rental properties.

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