Wells Fargo & Company MN decreased its position in American Homes 4 Rent (NYSE:AMH – Get Rating) by 13.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 533,904 shares of the real estate investment trust’s stock after selling 81,103 shares during the quarter. Wells Fargo & Company MN’s holdings in American Homes 4 Rent were worth $18,921,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of AMH. Ellevest Inc. lifted its holdings in shares of American Homes 4 Rent by 86.2% in the 2nd quarter. Ellevest Inc. now owns 728 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 337 shares during the last quarter. Arlington Partners LLC purchased a new position in American Homes 4 Rent in the 2nd quarter worth $27,000. Charter Oak Capital Management LLC bought a new stake in American Homes 4 Rent in the second quarter worth $31,000. AdvisorNet Financial Inc boosted its position in American Homes 4 Rent by 253.2% during the second quarter. AdvisorNet Financial Inc now owns 1,116 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 800 shares during the period. Finally, Lazard Asset Management LLC bought a new position in shares of American Homes 4 Rent during the second quarter valued at about $62,000. Hedge funds and other institutional investors own 88.49% of the company’s stock.
American Homes 4 Rent Stock Down 0.3 %
Shares of NYSE:AMH opened at $32.86 on Friday. The firm has a market capitalization of $11.61 billion, a P/E ratio of 54.77, a P/E/G ratio of 2.75 and a beta of 0.58. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.54 and a current ratio of 0.54. The stock has a 50-day moving average price of $31.95 and a 200-day moving average price of $34.59. American Homes 4 Rent has a 52-week low of $29.31 and a 52-week high of $44.07.
American Homes 4 Rent Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Thursday, December 15th will be issued a $0.18 dividend. The ex-dividend date is Wednesday, December 14th. This represents a $0.72 dividend on an annualized basis and a yield of 2.19%. American Homes 4 Rent’s dividend payout ratio (DPR) is 120.00%.
Wall Street Analyst Weigh In
AMH has been the subject of a number of recent research reports. B. Riley lowered their target price on American Homes 4 Rent from $43.00 to $36.00 in a research note on Tuesday, November 8th. Raymond James downgraded American Homes 4 Rent from a “strong-buy” rating to an “outperform” rating in a research report on Tuesday, November 29th. Morgan Stanley raised their target price on shares of American Homes 4 Rent from $37.50 to $39.00 and gave the stock an “equal weight” rating in a report on Thursday, August 25th. BTIG Research reiterated a “buy” rating and set a $38.00 price target on shares of American Homes 4 Rent in a report on Tuesday, November 22nd. Finally, The Goldman Sachs Group raised shares of American Homes 4 Rent from a “neutral” rating to a “buy” rating and raised their price target for the stock from $36.00 to $39.00 in a report on Thursday. One equity research analyst has rated the stock with a sell rating, five have been given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $39.25.
Insider Buying and Selling at American Homes 4 Rent
In other news, COO Bryan Smith sold 5,519 shares of the company’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $35.67, for a total value of $196,862.73. Following the sale, the chief operating officer now directly owns 81,287 shares of the company’s stock, valued at approximately $2,899,507.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed via this link. In related news, Director Douglas N. Benham acquired 4,000 shares of American Homes 4 Rent stock in a transaction that occurred on Wednesday, November 23rd. The stock was purchased at an average price of $22.55 per share, with a total value of $90,200.00. Following the transaction, the director now directly owns 22,070 shares in the company, valued at $497,678.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible via this hyperlink. Also, COO Bryan Smith sold 5,519 shares of the business’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $35.67, for a total value of $196,862.73. Following the completion of the sale, the chief operating officer now directly owns 81,287 shares in the company, valued at $2,899,507.29. The disclosure for this sale can be found here. Insiders own 6.03% of the company’s stock.
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, developing, renovating, leasing, and operating attractive, single-family homes as rental properties.
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