Geode Capital Management LLC Sells 21,801 Shares of American Homes 4 Rent (NYSE:AMH)

Geode Capital Management LLC lowered its holdings in shares of American Homes 4 Rent (NYSE:AMH) by 0.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 6,668,447 shares of the real estate investment trust’s stock after selling 21,801 shares during the quarter. Geode Capital Management LLC’s holdings in American Homes 4 Rent were worth $249,150,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of AMH. Mountain Hill Investment Partners Corp. bought a new position in shares of American Homes 4 Rent during the 4th quarter worth about $26,000. National Pension Service acquired a new position in American Homes 4 Rent in the fourth quarter worth about $30,000. Jones Financial Companies Lllp raised its position in American Homes 4 Rent by 56.6% in the fourth quarter. Jones Financial Companies Lllp now owns 1,084 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 392 shares in the last quarter. Assetmark Inc. lifted its stake in American Homes 4 Rent by 37.1% during the fourth quarter. Assetmark Inc. now owns 1,385 shares of the real estate investment trust’s stock worth $52,000 after purchasing an additional 375 shares during the period. Finally, UMB Bank n.a. boosted its holdings in American Homes 4 Rent by 77.2% during the fourth quarter. UMB Bank n.a. now owns 1,393 shares of the real estate investment trust’s stock valued at $52,000 after purchasing an additional 607 shares in the last quarter. Institutional investors and hedge funds own 91.87% of the company’s stock.

Analysts Set New Price Targets

AMH has been the subject of several analyst reports. Morgan Stanley upgraded American Homes 4 Rent from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $39.00 to $40.00 in a research report on Friday, January 24th. Royal Bank of Canada cut their price objective on American Homes 4 Rent from $40.00 to $39.00 and set an “outperform” rating for the company in a report on Monday, February 24th. Mizuho lowered their target price on shares of American Homes 4 Rent from $41.00 to $37.00 and set an “outperform” rating on the stock in a report on Thursday, March 13th. JMP Securities reiterated a “market outperform” rating and set a $41.00 target price on shares of American Homes 4 Rent in a research report on Tuesday, January 14th. Finally, Scotiabank lowered shares of American Homes 4 Rent from a “sector outperform” rating to a “sector perform” rating and set a $38.00 price target on the stock. in a research report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $40.23.

American Homes 4 Rent Price Performance

AMH opened at $35.47 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.76 and a quick ratio of 0.58. The stock has a market capitalization of $13.13 billion, a P/E ratio of 32.84, a price-to-earnings-growth ratio of 3.56 and a beta of 0.77. The company’s 50 day simple moving average is $35.89 and its 200-day simple moving average is $36.78. American Homes 4 Rent has a one year low of $34.01 and a one year high of $41.41.

American Homes 4 Rent (NYSE:AMH) last announced its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.30. American Homes 4 Rent had a return on equity of 5.33% and a net margin of 23.86%. The firm had revenue of $436.59 million for the quarter, compared to analyst estimates of $442.02 million. Sell-side analysts anticipate that American Homes 4 Rent will post 1.85 earnings per share for the current fiscal year.

American Homes 4 Rent Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a dividend of $0.30 per share. This is a boost from American Homes 4 Rent’s previous quarterly dividend of $0.26. This represents a $1.20 annualized dividend and a yield of 3.38%. The ex-dividend date was Friday, March 14th. American Homes 4 Rent’s payout ratio is currently 111.11%.

About American Homes 4 Rent

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.