American Homes 4 Rent (NYSE:AMH) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of American Homes 4 Rent (NYSE:AMH) from a hold rating to a buy rating in a report released on Wednesday, Zacks.com reports. They currently have $29.00 price target on the real estate investment trust’s stock.

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. “

Several other research analysts have also issued reports on AMH. Raymond James boosted their target price on American Homes 4 Rent from $28.00 to $29.00 and gave the company an outperform rating in a research report on Tuesday, November 12th. B. Riley set a $28.00 target price on American Homes 4 Rent and gave the company a buy rating in a research report on Friday, August 16th. Goldman Sachs Group initiated coverage on American Homes 4 Rent in a research report on Friday, November 8th. They set a buy rating and a $29.00 target price for the company. Evercore ISI restated a buy rating and set a $27.00 target price on shares of American Homes 4 Rent in a research report on Tuesday, November 12th. Finally, BTIG Research lowered American Homes 4 Rent from a buy rating to a neutral rating in a report on Thursday, August 1st. They noted that the move was a valuation call. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $27.33.

NYSE AMH traded up $0.22 during trading hours on Wednesday, hitting $26.51. 1,312,460 shares of the company were exchanged, compared to its average volume of 2,783,340. The stock has a 50-day moving average price of $26.02 and a 200 day moving average price of $25.06. The company has a quick ratio of 1.05, a current ratio of 1.13 and a debt-to-equity ratio of 0.47. American Homes 4 Rent has a 52 week low of $18.91 and a 52 week high of $26.67. The stock has a market cap of $7.91 billion, a PE ratio of 23.68, a price-to-earnings-growth ratio of 2.21 and a beta of 0.60.

American Homes 4 Rent (NYSE:AMH) last announced its earnings results on Thursday, November 7th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.19). American Homes 4 Rent had a net margin of 10.74% and a return on equity of 2.03%. The business had revenue of $298.30 million for the quarter, compared to analysts’ expectations of $290.51 million. During the same quarter last year, the firm earned $0.27 EPS. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, sell-side analysts anticipate that American Homes 4 Rent will post 1.12 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Thursday, January 2nd will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date is Tuesday, December 31st. American Homes 4 Rent’s dividend payout ratio (DPR) is 18.87%.

In related news, COO Jack E. Corrigan sold 75,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $25.68, for a total value of $1,926,000.00. Following the completion of the transaction, the chief operating officer now owns 100 shares of the company’s stock, valued at $2,568. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jack E. Corrigan sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $25.70, for a total transaction of $2,570,000.00. Following the completion of the transaction, the chief operating officer now directly owns 100 shares of the company’s stock, valued at approximately $2,570. The disclosure for this sale can be found here. Insiders sold 275,000 shares of company stock valued at $7,060,600 in the last three months. 27.58% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of AMH. First Trust Advisors LP increased its position in shares of American Homes 4 Rent by 97.9% in the 1st quarter. First Trust Advisors LP now owns 162,323 shares of the real estate investment trust’s stock valued at $3,688,000 after acquiring an additional 80,314 shares during the period. Pensionfund DSM Netherlands boosted its holdings in American Homes 4 Rent by 29.5% in the second quarter. Pensionfund DSM Netherlands now owns 79,000 shares of the real estate investment trust’s stock valued at $1,920,000 after purchasing an additional 18,000 shares during the last quarter. Pensionfund Sabic boosted its holdings in American Homes 4 Rent by 28.0% in the second quarter. Pensionfund Sabic now owns 32,000 shares of the real estate investment trust’s stock valued at $778,000 after purchasing an additional 7,000 shares during the last quarter. Exane Derivatives boosted its holdings in American Homes 4 Rent by 1,631.7% in the second quarter. Exane Derivatives now owns 8,035 shares of the real estate investment trust’s stock valued at $195,000 after purchasing an additional 7,571 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in American Homes 4 Rent by 18.8% in the second quarter. Nisa Investment Advisors LLC now owns 73,881 shares of the real estate investment trust’s stock valued at $1,796,000 after purchasing an additional 11,681 shares during the last quarter. 87.16% of the stock is currently owned by institutional investors and hedge funds.

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.

See Also: What are the benefits of investing in REITs?

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