American Homes 4 Rent (NYSE:AMH) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.
AMH has been the subject of several other research reports. BTIG Research decreased their price target on shares of American Homes 4 Rent from $26.00 to $23.00 and set a “buy” rating for the company in a research note on Monday, February 26th. Mizuho set a $22.00 price target on shares of American Homes 4 Rent and gave the stock a “buy” rating in a research note on Tuesday, February 27th. B. Riley set a $26.00 price target on shares of American Homes 4 Rent and gave the stock a “buy” rating in a research note on Friday, February 23rd. Zacks Investment Research lowered shares of American Homes 4 Rent from a “hold” rating to a “sell” rating in a research note on Tuesday, February 27th. Finally, Robert W. Baird initiated coverage on shares of American Homes 4 Rent in a research note on Thursday, March 29th. They set an “outperform” rating and a $23.00 price target for the company. Three equities research analysts have rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $24.56.
Shares of AMH stock traded down $0.11 during trading hours on Thursday, hitting $19.79. 1,324,600 shares of the company were exchanged, compared to its average volume of 2,054,527. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.48. American Homes 4 Rent has a 52-week low of $19.94 and a 52-week high of $20.13. The firm has a market cap of $5.93 billion, a P/E ratio of 19.40, a PEG ratio of 1.32 and a beta of 0.59.
American Homes 4 Rent declared that its board has approved a stock buyback program on Thursday, February 22nd that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the real estate investment trust to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.
In other American Homes 4 Rent news, EVP Christopher Lau sold 105,000 shares of the firm’s stock in a transaction on Tuesday, May 8th. The shares were sold at an average price of $20.50, for a total value of $2,152,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dann V. Angeloff sold 3,000 shares of the firm’s stock in a transaction on Monday, March 12th. The shares were sold at an average price of $19.67, for a total transaction of $59,010.00. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 262,385 shares of company stock valued at $5,418,520. 27.82% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the business. American International Group Inc. bought a new position in American Homes 4 Rent in the 4th quarter valued at $109,000. Granite Springs Asset Management LLC bought a new stake in shares of American Homes 4 Rent during the 4th quarter worth $279,000. Virtu Financial LLC bought a new stake in shares of American Homes 4 Rent during the 4th quarter worth $328,000. RMR Advisors LLC bought a new stake in shares of American Homes 4 Rent during the 4th quarter worth $352,000. Finally, Alps Advisors Inc. bought a new stake in shares of American Homes 4 Rent during the 1st quarter worth $361,000. 92.66% of the stock is owned by hedge funds and other institutional investors.
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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