State of Michigan Retirement System Acquires New Stake in American Homes 4 Rent (NYSE:AMH)

State of Michigan Retirement System acquired a new stake in shares of American Homes 4 Rent (NYSE:AMH) in the first quarter, HoldingsChannel reports. The firm acquired 78,100 shares of the real estate investment trust’s stock, valued at approximately $2,873,000.

Other large investors also recently bought and sold shares of the company. Los Angeles Capital Management LLC purchased a new position in American Homes 4 Rent during the 1st quarter valued at $5,711,000. Scissortail Wealth Management LLC purchased a new stake in shares of American Homes 4 Rent in the 4th quarter worth $801,000. Wells Fargo & Company MN lifted its holdings in shares of American Homes 4 Rent by 67.6% in the 4th quarter. Wells Fargo & Company MN now owns 820,711 shares of the real estate investment trust’s stock worth $29,513,000 after buying an additional 331,168 shares during the period. Bank of Nova Scotia lifted its holdings in shares of American Homes 4 Rent by 18.1% in the 3rd quarter. Bank of Nova Scotia now owns 7,711 shares of the real estate investment trust’s stock worth $260,000 after buying an additional 1,183 shares during the period. Finally, Manning & Napier Group LLC lifted its holdings in shares of American Homes 4 Rent by 59.2% in the 4th quarter. Manning & Napier Group LLC now owns 172,372 shares of the real estate investment trust’s stock worth $6,198,000 after buying an additional 64,131 shares during the period. Hedge funds and other institutional investors own 91.87% of the company’s stock.

American Homes 4 Rent Trading Down 0.1 %

Shares of NYSE:AMH opened at $37.31 on Thursday. The business’s 50-day moving average is $36.17 and its 200 day moving average is $35.88. American Homes 4 Rent has a 1 year low of $31.36 and a 1 year high of $37.97. The firm has a market capitalization of $13.67 billion, a P/E ratio of 38.07, a P/E/G ratio of 3.13 and a beta of 0.74. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.59 and a quick ratio of 0.59.

American Homes 4 Rent (NYSE:AMH) last announced its earnings results on Friday, May 10th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.13). American Homes 4 Rent had a net margin of 22.55% and a return on equity of 5.00%. The business had revenue of $423.56 million for the quarter, compared to analyst estimates of $421.28 million. During the same period in the prior year, the company earned $0.41 earnings per share. The company’s quarterly revenue was up 6.5% on a year-over-year basis. On average, research analysts predict that American Homes 4 Rent will post 1.74 earnings per share for the current fiscal year.

American Homes 4 Rent Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend was Friday, June 14th. American Homes 4 Rent’s dividend payout ratio is currently 106.12%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AMH. JPMorgan Chase & Co. upped their target price on American Homes 4 Rent from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Monday, June 17th. Citigroup upgraded American Homes 4 Rent from a “neutral” rating to a “buy” rating and upped their target price for the stock from $37.00 to $41.00 in a report on Friday, March 22nd. Mizuho boosted their price target on American Homes 4 Rent from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. StockNews.com lowered American Homes 4 Rent from a “hold” rating to a “sell” rating in a research report on Wednesday, March 20th. Finally, Keefe, Bruyette & Woods boosted their price target on American Homes 4 Rent from $38.00 to $39.00 and gave the stock a “market perform” rating in a research report on Monday, May 13th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $39.53.

Insider Activity at American Homes 4 Rent

In other news, Director Jack E. Corrigan acquired 10,000 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were acquired at an average cost of $22.78 per share, with a total value of $227,800.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $227,800. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Douglas N. Benham acquired 3,500 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were acquired at an average cost of $23.00 per share, with a total value of $80,500.00. Following the completion of the acquisition, the director now owns 37,997 shares of the company’s stock, valued at $873,931. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jack E. Corrigan acquired 10,000 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was purchased at an average cost of $22.78 per share, for a total transaction of $227,800.00. Following the completion of the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $227,800. The disclosure for this purchase can be found here. 6.05% of the stock is currently owned by corporate insiders.

About American Homes 4 Rent

AMH (NYSE: AMH) is a leading large-scale integrated owner, operator and developer of single-family rental homes. We're an internally managed Maryland real estate investment trust (REIT) focused on acquiring, developing, renovating, leasing and managing homes as rental properties. Our goal is to simplify the experience of leasing a home and deliver peace of mind to households across the country.