American Homes 4 Rent (AMH) Raised to Buy at BidaskClub
American Homes 4 Rent (NYSE:AMH) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.
AMH has been the subject of several other research reports. Credit Suisse Group started coverage on American Homes 4 Rent in a research note on Monday, February 27th. They issued a “neutral” rating and a $24.00 price target for the company. Zacks Investment Research cut American Homes 4 Rent from a “buy” rating to a “hold” rating in a research note on Wednesday, March 1st. FBR & Co reissued a “buy” rating on shares of American Homes 4 Rent in a research note on Thursday, April 13th. Evercore ISI began coverage on American Homes 4 Rent in a research note on Monday, June 5th. They issued an “in-line” rating and a $24.50 price target for the company. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $24.00 target price 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 five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $24.06.
Shares of American Homes 4 Rent (AMH) traded down 0.18% during midday trading on Friday, hitting $22.70. 3,632,830 shares of the company’s stock traded hands. The company has a 50 day moving average of $22.43 and a 200 day moving average of $22.28. American Homes 4 Rent has a 52 week low of $18.47 and a 52 week high of $23.98. The stock’s market cap is $5.88 billion.
American Homes 4 Rent (NYSE:AMH) last released its quarterly earnings results on Thursday, May 4th. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.26. American Homes 4 Rent had a return on equity of 0.35% and a net margin of 1.92%. The company had revenue of $233.80 million during the quarter, compared to analysts’ expectations of $227.11 million. During the same quarter in the prior year, the business posted $0.23 earnings per share. The company’s revenue for the quarter was up 19.9% compared to the same quarter last year. On average, equities analysts forecast that American Homes 4 Rent will post $0.07 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 15th will be given a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, June 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.88%. American Homes 4 Rent’s dividend payout ratio (DPR) is -133.32%.
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In related news, Director Tamara Hughes Gustavson purchased 462,123 shares of the firm’s stock in a transaction that occurred on Tuesday, May 9th. The stock was acquired at an average price of $22.21 per share, for a total transaction of $10,263,751.83. Following the transaction, the director now directly owns 13,600,665 shares of the company’s stock, valued at approximately $302,070,769.65. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Bryan Smith sold 12,432 shares of the stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $22.40, for a total value of $278,476.80. The disclosure for this sale can be found here. Company insiders own 27.82% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in AMH. Skandinaviska Enskilda Banken AB publ bought a new position in American Homes 4 Rent during the first quarter worth $305,000. Public Employees Retirement System of Ohio increased its stake in shares of American Homes 4 Rent by 1.0% in the first quarter. Public Employees Retirement System of Ohio now owns 479,367 shares of the real estate investment trust’s stock valued at $11,006,000 after buying an additional 4,590 shares in the last quarter. FNY Partners Fund LP acquired a new stake in shares of American Homes 4 Rent during the first quarter valued at about $114,000. Credit Suisse AG increased its stake in shares of American Homes 4 Rent by 11.4% in the first quarter. Credit Suisse AG now owns 871,998 shares of the real estate investment trust’s stock valued at $20,022,000 after buying an additional 89,368 shares in the last quarter. Finally, Tudor Investment Corp ET AL increased its stake in shares of American Homes 4 Rent by 102.7% in the first quarter. Tudor Investment Corp ET AL now owns 60,963 shares of the real estate investment trust’s stock valued at $1,400,000 after buying an additional 30,883 shares in the last quarter. Institutional investors and hedge funds own 93.71% 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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