American Homes 4 Rent (AMH) Issues Quarterly Earnings Results, Hits Expectations
American Homes 4 Rent (NYSE:AMH) posted its earnings results on Thursday. The real estate investment trust reported $0.25 EPS for the quarter, hitting the consensus estimate of $0.25, Bloomberg Earnings reports. American Homes 4 Rent had a net margin of 3.82% and a return on equity of 0.70%. The business had revenue of $246.80 million for the quarter, compared to the consensus estimate of $247.96 million. During the same period last year, the company earned $0.24 EPS. The firm’s revenue was up 4.5% compared to the same quarter last year.
In related news, Director B Wayne Et Al Hughes acquired 1,372,200 shares of the company’s stock in a transaction dated Thursday, September 14th. The stock was purchased at an average price of $21.84 per share, with a total value of $29,968,848.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 27.82% of the company’s stock.
An institutional investor recently raised its position in American Homes 4 Rent stock. The Manufacturers Life Insurance Company increased its holdings in American Homes 4 Rent (NYSE:AMH) by 7.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,247 shares of the real estate investment trust’s stock after acquiring an additional 515 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in American Homes 4 Rent were worth $164,000 as of its most recent filing with the Securities & Exchange Commission. 93.36% of the stock is currently owned by hedge funds and other institutional investors.
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Several equities research analysts recently commented on AMH shares. Zacks Investment Research downgraded shares of American Homes 4 Rent from a “hold” rating to a “sell” rating in a research report on Tuesday, August 15th. BidaskClub upgraded shares of American Homes 4 Rent from a “hold” rating to a “buy” rating in a research report on Friday, July 14th. Citigroup Inc. started coverage on shares of American Homes 4 Rent in a research report on Friday, October 20th. They set a “buy” rating and a $25.00 target price on the stock. TheStreet upgraded shares of American Homes 4 Rent from a “c” rating to a “b” rating in a research report on Friday, August 4th. Finally, BTIG Research started coverage on shares of American Homes 4 Rent in a research report on Monday, October 9th. They set a “buy” rating and a $26.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $25.00.
American Homes 4 Rent Company Profile
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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