Sumitomo Mitsui Asset Management Company LTD purchased a new position in shares of American Homes 4 Rent (NYSE:AMH) in the first quarter, HoldingsChannel reports. The fund purchased 305,759 shares of the real estate investment trust’s stock, valued at approximately $6,946,000.
Other institutional investors have also recently modified their holdings of the company. Stephens Inc. AR lifted its stake in shares of American Homes 4 Rent by 18.0% in the first quarter. Stephens Inc. AR now owns 22,309 shares of the real estate investment trust’s stock valued at $507,000 after buying an additional 3,396 shares in the last quarter. Honeywell International Inc. increased its holdings in American Homes 4 Rent by 18.1% in the 1st quarter. Honeywell International Inc. now owns 117,789 shares of the real estate investment trust’s stock worth $2,676,000 after acquiring an additional 18,035 shares in the last quarter. Comerica Bank increased its holdings in American Homes 4 Rent by 6.4% in the 1st quarter. Comerica Bank now owns 11,811 shares of the real estate investment trust’s stock worth $274,000 after acquiring an additional 711 shares in the last quarter. Pearl River Capital LLC purchased a new stake in American Homes 4 Rent in the 1st quarter worth approximately $202,000. Finally, Renaissance Group LLC purchased a new stake in American Homes 4 Rent in the 1st quarter worth approximately $205,000. 88.04% of the stock is owned by institutional investors.
Several research analysts have weighed in on the company. Zacks Investment Research downgraded American Homes 4 Rent from a “hold” rating to a “sell” rating in a research note on Wednesday, April 10th. Mizuho upgraded American Homes 4 Rent from a “neutral” rating to a “buy” rating and set a $24.00 target price on the stock in a research note on Tuesday, February 26th. Finally, ValuEngine upgraded American Homes 4 Rent from a “hold” rating to a “buy” rating in a research note on Tuesday, January 29th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $24.43.
American Homes 4 Rent (NYSE:AMH) last released its earnings results on Thursday, May 2nd. The real estate investment trust reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.21). American Homes 4 Rent had a return on equity of 1.98% and a net margin of 10.78%. The business had revenue of $279.20 million during the quarter, compared to analysts’ expectations of $275.90 million. During the same quarter in the previous year, the business earned $0.24 EPS. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. Research analysts expect that American Homes 4 Rent will post 1.11 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.20 dividend on an annualized basis and a yield of 0.83%. American Homes 4 Rent’s payout ratio is 18.87%.
In other news, Director David Goldberg sold 69,699 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $23.95, for a total transaction of $1,669,291.05. Following the transaction, the director now owns 72,972 shares in the company, valued at $1,747,679.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Bryan Smith sold 4,544 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $22.62, for a total value of $102,785.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,895,912 shares of company stock worth $91,636,486. Insiders own 27.58% of the company’s stock.
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About American Homes 4 Rent
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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