Zimmer Partners LP lowered its holdings in shares of American Homes 4 Rent (NYSE:AMH) by 68.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 750,000 shares of the real estate investment trust’s stock after selling 1,600,000 shares during the period. Zimmer Partners LP’s holdings in American Homes 4 Rent were worth $16,380,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. American International Group Inc. acquired a new position in shares of American Homes 4 Rent in the fourth quarter valued at approximately $109,000. The Manufacturers Life Insurance Company raised its position in shares of American Homes 4 Rent by 7.7% in the second quarter. The Manufacturers Life Insurance Company now owns 7,247 shares of the real estate investment trust’s stock valued at $164,000 after buying an additional 515 shares during the last quarter. CIBC Asset Management Inc acquired a new position in shares of American Homes 4 Rent in the third quarter valued at approximately $202,000. Magnetar Financial LLC acquired a new position in shares of American Homes 4 Rent in the third quarter valued at approximately $228,000. Finally, Granite Springs Asset Management LLC acquired a new position in shares of American Homes 4 Rent in the fourth quarter valued at approximately $279,000. Institutional investors own 90.76% of the company’s stock.
Shares of American Homes 4 Rent (AMH) opened at $19.57 on Thursday. American Homes 4 Rent has a twelve month low of $18.39 and a twelve month high of $23.83. The stock has a market cap of $5,663.49, a P/E ratio of -244.63, a P/E/G ratio of 1.50 and a beta of 0.65. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.59 and a quick ratio of 0.59.
American Homes 4 Rent (NYSE:AMH) last released its earnings results on Thursday, February 22nd. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.26. American Homes 4 Rent had a net margin of 8.43% and a return on equity of 1.45%. The firm had revenue of $242.80 million during the quarter, compared to the consensus estimate of $244.81 million. During the same period in the previous year, the firm earned $0.26 earnings per share. American Homes 4 Rent’s revenue was up 6.7% compared to the same quarter last year. equities analysts anticipate that American Homes 4 Rent will post 1.16 EPS for the current year.
American Homes 4 Rent announced that its board has initiated a stock repurchase program on Thursday, February 22nd that allows the company to buyback $300.00 million in shares. This buyback authorization allows the real estate investment trust to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Thursday, March 15th will be issued a $0.05 dividend. The ex-dividend date is Wednesday, March 14th. This represents a $0.20 dividend on an annualized basis and a yield of 1.02%. American Homes 4 Rent’s payout ratio is -250.00%.
In other American Homes 4 Rent news, Director Dann V. Angeloff sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $19.67, for a total transaction of $59,010.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Douglas N. Benham acquired 2,005 shares of the firm’s stock in a transaction on Friday, January 26th. The shares were acquired at an average price of $24.80 per share, with a total value of $49,724.00. The disclosure for this purchase can be found here. 27.82% of the stock is currently owned by insiders.
A number of research firms have recently weighed in on AMH. JPMorgan Chase & Co. raised shares of American Homes 4 Rent from a “neutral” rating to an “overweight” rating and set a $26.00 price objective for the company in a research report on Friday, December 15th. Keefe, Bruyette & Woods raised shares of American Homes 4 Rent from a “market perform” rating to an “outperform” rating in a research report on Thursday, December 7th. B. Riley began coverage on shares of American Homes 4 Rent in a research report on Monday. They issued a “buy” rating and a $26.00 price objective for the company. Zacks Investment Research lowered shares of American Homes 4 Rent from a “hold” rating to a “sell” rating in a research report on Tuesday, February 27th. Finally, Evercore ISI upgraded shares of American Homes 4 Rent from an “in-line” rating to an “outperform” rating and set a $24.50 target price for the company in a report on Monday, December 4th. Two research analysts have rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $24.56.
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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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