American Homes 4 Rent (AMH) Cut to Hold at Zacks Investment Research

American Homes 4 Rent (NYSE:AMH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors 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. “

AMH has been the topic of a number of other research reports. Raymond James Financial Inc. lifted their price target on shares of American Homes 4 Rent from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, September 8th. Zelman & Associates upgraded shares of American Homes 4 Rent from a “hold” rating to a “buy” rating in a research note on Monday, August 8th. FBR & Co reiterated an “outperform” rating on shares of American Homes 4 Rent in a research note on Friday, September 23rd. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $20.00 price objective (up from $19.00) on shares of American Homes 4 Rent in a research note on Saturday, August 13th. Finally, Wells Fargo & Co. reiterated a “hold” rating on shares of American Homes 4 Rent in a research note on Wednesday, August 17th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $23.60.

Analyst Recommendations for American Homes 4 Rent (NYSE:AMH)

Shares of American Homes 4 Rent (NYSE:AMH) traded up 0.91% on Wednesday, hitting $21.18. The stock had a trading volume of 2,843,952 shares. The firm has a 50-day moving average of $20.75 and a 200 day moving average of $20.49. The company’s market capitalization is $5.05 billion. American Homes 4 Rent has a 1-year low of $13.16 and a 1-year high of $22.99.

American Homes 4 Rent (NYSE:AMH) last posted its quarterly earnings results on Thursday, November 3rd. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. The company had revenue of $236.10 million for the quarter, compared to analysts’ expectations of $49.46 million. American Homes 4 Rent had a negative net margin of 2.47% and a negative return on equity of 0.45%. American Homes 4 Rent’s revenue was up 36.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.19 EPS. On average, equities analysts anticipate that American Homes 4 Rent will post $0.97 earnings per share for the current fiscal year.

In related news, Director B Wayne Et Al Hughes bought 724,021 shares of the business’s stock in a transaction that occurred on Thursday, November 10th. The stock was bought at an average cost of $20.72 per share, for a total transaction of $15,001,715.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Tamara Hughes Gustavson bought 80,681 shares of the business’s stock in a transaction that occurred on Thursday, November 17th. The stock was bought at an average price of $20.55 per share, with a total value of $1,657,994.55. Following the completion of the transaction, the director now directly owns 12,972,446 shares of the company’s stock, valued at approximately $266,583,765.30. The disclosure for this purchase can be found here. Insiders own 23.31% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in AMH. Brookfield Asset Management Inc. raised its position in shares of American Homes 4 Rent by 19.4% in the third quarter. Brookfield Asset Management Inc. now owns 6,309,209 shares of the company’s stock valued at $136,531,000 after buying an additional 1,024,311 shares during the period. Cornerstone Capital Management Holdings LLC. bought a new position in shares of American Homes 4 Rent during the third quarter valued at about $2,677,000. Credit Suisse AG raised its position in shares of American Homes 4 Rent by 21.9% in the third quarter. Credit Suisse AG now owns 860,553 shares of the company’s stock valued at $18,623,000 after buying an additional 154,524 shares during the period. Pioneer Investment Management Inc. raised its position in shares of American Homes 4 Rent by 102.1% in the third quarter. Pioneer Investment Management Inc. now owns 367,498 shares of the company’s stock valued at $7,953,000 after buying an additional 185,698 shares during the period. Finally, Picton Mahoney Asset Management bought a new position in shares of American Homes 4 Rent during the third quarter valued at about $6,116,000. Institutional investors own 76.99% of the company’s stock.

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American Homes 4 Rent Company Profile

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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