Nuveen Asset Management LLC lowered its stake in shares of American Homes 4 Rent (NYSE:AMH) by 12.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,116,599 shares of the real estate investment trust’s stock after selling 301,033 shares during the period. Nuveen Asset Management LLC owned about 0.82% of American Homes 4 Rent worth $48,597,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the stock. FNY Partners Fund LP purchased a new position in shares of American Homes 4 Rent during the first quarter valued at $114,000. PNC Financial Services Group Inc. increased its position in shares of American Homes 4 Rent by 169.5% in the first quarter. PNC Financial Services Group Inc. now owns 5,442 shares of the real estate investment trust’s stock valued at $125,000 after buying an additional 3,423 shares in the last quarter. Elkfork Partners LLC purchased a new position in shares of American Homes 4 Rent during the fourth quarter valued at $176,000. Teza Capital Management LLC purchased a new position in shares of American Homes 4 Rent during the first quarter valued at $202,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of American Homes 4 Rent during the first quarter valued at $236,000. 93.82% of the stock is currently owned by institutional investors and hedge funds.
Shares of American Homes 4 Rent (NYSE AMH) opened at 22.98 on Tuesday. The stock’s market cap is $5.95 billion. The company’s 50-day moving average is $22.43 and its 200-day moving average is $22.34. American Homes 4 Rent has a 1-year low of $19.62 and a 1-year high of $23.98.
American Homes 4 Rent (NYSE:AMH) last announced its quarterly earnings data on Thursday, May 4th. The real estate investment trust reported $0.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.26. The company had revenue of $233.80 million for the quarter, compared to analyst estimates of $227.11 million. American Homes 4 Rent had a negative return on equity of 0.14% and a net margin of 5.05%. The firm’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.23 EPS. Equities analysts expect that American Homes 4 Rent will post $0.07 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Thursday, June 15th were issued a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, June 13th. This represents a $0.20 dividend on an annualized basis and a yield of 0.87%. American Homes 4 Rent’s payout ratio is currently -133.32%.
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Several equities analysts have weighed in on the stock. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $24.00 price target on shares of American Homes 4 Rent in a report on Friday, May 5th. Mizuho raised shares of American Homes 4 Rent from a “neutral” rating to a “buy” rating and set a $25.50 price target on the stock in a report on Monday, July 10th. BidaskClub raised shares of American Homes 4 Rent from a “hold” rating to a “buy” rating in a report on Saturday, June 24th. Zacks Investment Research downgraded shares of American Homes 4 Rent from a “hold” rating to a “sell” rating in a report on Friday, March 31st. Finally, FBR & Co reissued a “buy” rating on shares of American Homes 4 Rent in a report on Wednesday, May 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $24.38.
In other news, Director Tamara Hughes Gustavson acquired 462,123 shares of the firm’s stock in a transaction on Tuesday, May 9th. The shares were bought at an average price of $22.21 per share, for a total transaction of $10,263,751.83. Following the acquisition, the director now owns 13,600,665 shares of the company’s stock, valued at approximately $302,070,769.65. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Bryan Smith sold 12,432 shares of the firm’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $22.40, for a total value of $278,476.80. The disclosure for this sale can be found here. Company insiders own 27.82% of the company’s stock.
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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