Ranger Global Real Estate Advisors LLC lifted its position in shares of American Homes 4 Rent (NYSE:AMH) by 136.0% in the first quarter, Holdings Channel reports. The institutional investor owned 1,004,762 shares of the real estate investment trust’s stock after purchasing an additional 578,987 shares during the period. American Homes 4 Rent makes up approximately 6.6% of Ranger Global Real Estate Advisors LLC’s holdings, making the stock its 3rd biggest holding. Ranger Global Real Estate Advisors LLC’s holdings in American Homes 4 Rent were worth $20,176,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. American International Group Inc. purchased a new stake in American Homes 4 Rent during the 4th quarter worth $109,000. Granite Springs Asset Management LLC purchased a new stake in American Homes 4 Rent during the 4th quarter worth $279,000. Virtu Financial LLC purchased a new stake in American Homes 4 Rent during the 4th quarter worth $328,000. Alps Advisors Inc. purchased a new stake in American Homes 4 Rent during the 1st quarter worth $361,000. Finally, QS Investors LLC boosted its position in American Homes 4 Rent by 141.9% during the 4th quarter. QS Investors LLC now owns 17,217 shares of the real estate investment trust’s stock worth $376,000 after purchasing an additional 10,100 shares during the period. Institutional investors and hedge funds own 85.70% of the company’s stock.
A number of analysts recently weighed in on the stock. Robert W. Baird assumed coverage on shares of American Homes 4 Rent in a research report on Thursday, March 29th. They set an “outperform” rating and a $23.00 price target for the company. ValuEngine cut shares of American Homes 4 Rent from a “hold” rating to a “sell” rating in a research report on Thursday, May 17th. B. Riley started coverage on shares of American Homes 4 Rent in a research report on Monday, March 12th. They issued a “buy” rating and a $26.00 price objective for the company. Mizuho set a $23.00 price objective on shares of American Homes 4 Rent and gave the company a “buy” rating in a research report on Monday, March 19th. Finally, BTIG Research decreased their price objective on shares of American Homes 4 Rent from $26.00 to $23.00 and set a “buy” rating for the company in a research report on Monday, February 26th. Three investment analysts have rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $24.56.
American Homes 4 Rent (NYSE:AMH) last posted its quarterly earnings data on Thursday, May 3rd. The real estate investment trust reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The firm had revenue of $258.00 million during the quarter, compared to analysts’ expectations of $251.72 million. American Homes 4 Rent had a net margin of 9.07% and a return on equity of 1.56%. The business’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.26 earnings per share. sell-side analysts expect that American Homes 4 Rent will post 1.1 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 2nd. Stockholders of record on Friday, June 15th will be paid a $0.05 dividend. The ex-dividend date is Thursday, June 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.96%. American Homes 4 Rent’s dividend payout ratio (DPR) is presently 19.61%.
American Homes 4 Rent announced that its Board of Directors has initiated a share repurchase plan on Thursday, February 22nd that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
In other news, Director Dann V. Angeloff sold 3,000 shares of the company’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $19.67, for a total value of $59,010.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Tamara Hughes Gustavson bought 507,614 shares of the business’s stock in a transaction dated Friday, May 18th. The stock was bought at an average price of $19.70 per share, for a total transaction of $9,999,995.80. Following the purchase, the director now owns 15,586,898 shares in the company, valued at approximately $307,061,890.60. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 771,999 shares of company stock worth $15,464,796. Company insiders own 27.82% of the company’s stock.
American Homes 4 Rent Company Profile
American Homes 4 Rent (NYSE: AMH) is a leader in the single-family home rental industry and "American Homes 4 Rent" is fast becoming a nationally recognized brand for rental homes, known for high quality, good value and tenant satisfaction. We are an internally managed Maryland real estate investment trust, or REIT, focused on acquiring, renovating, leasing, and operating attractive, single-family homes as rental properties.
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