Trading Report: The American Homes 4 Rent (AMH) Downgraded by Zacks Investment Research to “Hold”

The American Homes 4 Rent (AMH) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research lowered shares of American Homes 4 Rent (NYSE:AMH) from a buy rating to a hold rating in a research report report published on Wednesday.

According to Zacks, “American Homes 4 Rent is an internally managed real estate investment trust. It is focused on acquiring, renovating, leasing, and operating single-family homes as rental properties. It rents residential properties primarily in Arizona, California, Florida, Georgia, and Nevada. American Homes 4 Rent is based in Malibu, California. “

A number of other brokerages have also weighed in on AMH. Raymond James Financial Inc. boosted their target price on shares of American Homes 4 Rent from $24.00 to $26.00 and gave the company a buy rating in a research note on Thursday, September 8th. Wells Fargo & Co. reiterated a hold rating on shares of American Homes 4 Rent in a research note on Wednesday, August 17th. Zelman & Associates raised shares of American Homes 4 Rent from a hold rating to a buy rating in a research report on Monday, August 8th. FBR & Co boosted their price objective on shares of American Homes 4 Rent from $22.00 to $26.00 and gave the company an outperform rating in a research report on Monday, August 8th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of American Homes 4 Rent from $19.00 to $22.00 and gave the company a market perform rating in a research report on Monday, August 8th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $23.40.

Shares of American Homes 4 Rent (NYSE:AMH) traded up 0.171% during midday trading on Wednesday, hitting $20.495. The company had a trading volume of 181,169 shares. American Homes 4 Rent has a 52 week low of $13.16 and a 52 week high of $22.99. The company’s market capitalization is $4.89 billion. The firm’s 50 day moving average is $21.47 and its 200 day moving average is $19.43.

American Homes 4 Rent (NYSE:AMH) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by $0.02. American Homes 4 Rent had a negative return on equity of 0.83% and a negative net margin of 4.72%. The firm earned $221 million during the quarter, compared to analysts’ expectations of $219.32 million. During the same quarter in the previous year, the firm earned $0.17 earnings per share. American Homes 4 Rent’s revenue was up 43.9% on a year-over-year basis. Equities research analysts anticipate that American Homes 4 Rent will post $0.97 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend was Tuesday, September 13th. American Homes 4 Rent’s dividend payout ratio is currently -66.66%.

In other American Homes 4 Rent news, COO Jack E. Corrigan sold 91,324 shares of the stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $20.97, for a total transaction of $1,915,064.28. Following the completion of the transaction, the chief operating officer now owns 100 shares of the company’s stock, valued at approximately $2,097. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bryan Smith sold 12,000 shares of the stock in a transaction dated Thursday, September 29th. The shares were sold at an average price of $21.70, for a total transaction of $260,400.00. The disclosure for this sale can be found here. 23.31% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Boston Partners increased its position in American Homes 4 Rent by 0.3% in the second quarter. Boston Partners now owns 12,860,820 shares of the company’s stock valued at $263,389,000 after buying an additional 37,951 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in shares of American Homes 4 Rent by 18.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 7,287,286 shares of the company’s stock valued at $115,868,000 after buying an additional 1,131,614 shares in the last quarter. Brookfield Asset Management Inc. boosted its stake in shares of American Homes 4 Rent by 353.8% in the second quarter. Brookfield Asset Management Inc. now owns 5,284,898 shares of the company’s stock valued at $108,235,000 after buying an additional 4,120,398 shares in the last quarter. State Street Corp boosted its stake in shares of American Homes 4 Rent by 26.3% in the first quarter. State Street Corp now owns 4,902,960 shares of the company’s stock valued at $77,954,000 after buying an additional 1,022,469 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of American Homes 4 Rent by 53.2% in the second quarter. Bank of New York Mellon Corp now owns 3,899,072 shares of the company’s stock valued at $79,853,000 after buying an additional 1,353,496 shares in the last quarter. 72.47% of the stock is owned by institutional investors and hedge funds.

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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