American Homes 4 Rent (NYSE:AMH) Shares Acquired by Bank of America Corp DE

Bank of America Corp DE lifted its stake in shares of American Homes 4 Rent (NYSE:AMH) by 15.7% during the fourth quarter, Holdings Channel reports. The fund owned 1,178,237 shares of the real estate investment trust’s stock after purchasing an additional 159,954 shares during the quarter. Bank of America Corp DE’s holdings in American Homes 4 Rent were worth $44,090,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in AMH. Norges Bank acquired a new stake in shares of American Homes 4 Rent during the fourth quarter valued at $822,019,000. Invesco Ltd. lifted its position in American Homes 4 Rent by 186.2% during the fourth quarter. Invesco Ltd. now owns 6,292,773 shares of the real estate investment trust’s stock worth $235,476,000 after buying an additional 4,094,177 shares during the period. Wellington Management Group LLP lifted its position in American Homes 4 Rent by 96.2% during the fourth quarter. Wellington Management Group LLP now owns 3,191,092 shares of the real estate investment trust’s stock worth $119,411,000 after buying an additional 1,564,994 shares during the period. Alyeska Investment Group L.P. lifted its position in American Homes 4 Rent by 185.2% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,989,260 shares of the real estate investment trust’s stock worth $74,438,000 after buying an additional 1,291,865 shares during the period. Finally, Northern Trust Corp lifted its position in American Homes 4 Rent by 40.1% during the fourth quarter. Northern Trust Corp now owns 4,183,541 shares of the real estate investment trust’s stock worth $156,548,000 after buying an additional 1,198,471 shares during the period. Institutional investors and hedge funds own 91.87% of the company’s stock.

Insider Activity

In related news, Director Jack E. Corrigan bought 4,000 shares of the stock in a transaction dated Monday, May 5th. The stock was acquired at an average price of $23.42 per share, for a total transaction of $93,680.00. Following the completion of the purchase, the director now owns 12,000 shares in the company, valued at $281,040. This represents a 50.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Sara H. Vogt-Lowell sold 42,500 shares of the stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $39.01, for a total value of $1,657,925.00. Following the completion of the sale, the chief accounting officer now owns 99,214 shares of the company’s stock, valued at approximately $3,870,338.14. This trade represents a 29.99% decrease in their position. The disclosure for this sale can be found here. Insiders own 6.32% of the company’s stock.

American Homes 4 Rent Price Performance

AMH stock opened at $37.35 on Thursday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.58 and a current ratio of 0.76. American Homes 4 Rent has a 1 year low of $31.68 and a 1 year high of $41.41. The firm has a market cap of $13.83 billion, a P/E ratio of 34.58, a price-to-earnings-growth ratio of 3.56 and a beta of 0.78. The stock has a 50-day simple moving average of $36.63 and a 200-day simple moving average of $36.46.

American Homes 4 Rent (NYSE:AMH) last posted its earnings results on Thursday, May 1st. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. American Homes 4 Rent had a return on equity of 5.33% and a net margin of 23.86%. The business had revenue of $459.28 million during the quarter, compared to analyst estimates of $449.00 million. During the same quarter last year, the firm earned $0.43 earnings per share. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, equities analysts predict that American Homes 4 Rent will post 1.85 earnings per share for the current fiscal year.

American Homes 4 Rent Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a $0.30 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.21%. American Homes 4 Rent’s dividend payout ratio (DPR) is currently 111.11%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on AMH shares. Keefe, Bruyette & Woods increased their target price on American Homes 4 Rent from $38.00 to $40.00 and gave the stock a “market perform” rating in a research report on Tuesday, May 6th. Barclays increased their target price on American Homes 4 Rent from $37.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 12th. Royal Bank of Canada increased their target price on American Homes 4 Rent from $39.00 to $41.00 and gave the stock an “outperform” rating in a research report on Monday, May 5th. Scotiabank increased their target price on American Homes 4 Rent from $38.00 to $41.00 and gave the stock a “sector perform” rating in a research report on Monday. Finally, StockNews.com upgraded American Homes 4 Rent from a “sell” rating to a “hold” rating in a research report on Tuesday, May 6th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $40.86.

American Homes 4 Rent Profile

American Homes 4 Rent operates as a real estate investment trust. It engages in the acquisition, renovation, leasing, and operating of single-family homes as rental properties. The company was founded by Bradley Wayne Hughes, Sr. on October 19, 2012 and is headquartered in Las Vegas, NV.