American Homes 4 Rent (NYSE:AMH) has been assigned a $23.00 price objective by equities researchers at Mizuho in a research report issued to clients and investors on Monday. The firm currently has a “buy” rating on the real estate investment trust’s stock. Mizuho’s price objective would indicate a potential upside of 16.40% from the stock’s previous close.
A number of other research firms also recently commented on AMH. TheStreet downgraded American Homes 4 Rent from a “b-” rating to a “c+” rating in a research report on Wednesday, January 10th. Zacks Investment Research downgraded American Homes 4 Rent from a “hold” rating to a “sell” rating in a research report on Tuesday, February 27th. B. Riley initiated coverage on American Homes 4 Rent in a research report on Monday, March 12th. They issued a “buy” rating and a $26.00 target price on the stock. BTIG Research decreased their target price on American Homes 4 Rent from $26.00 to $23.00 and set a “buy” rating on the stock in a research report on Monday, February 26th. Finally, JPMorgan Chase & Co. upgraded American Homes 4 Rent from a “neutral” rating to an “overweight” rating and set a $26.00 target price on the stock in a research report on Friday, December 15th. Two investment analysts have rated the stock with a sell rating and eight have given a buy rating to the stock. American Homes 4 Rent currently has an average rating of “Buy” and a consensus target price of $24.69.
Shares of American Homes 4 Rent stock opened at $19.76 on Monday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.59 and a quick ratio of 0.59. The company has a market capitalization of $5,695.03, a PE ratio of -247.00, a P/E/G ratio of 1.51 and a beta of 0.65. American Homes 4 Rent has a 52-week low of $18.39 and a 52-week high of $23.83.
American Homes 4 Rent (NYSE:AMH) last posted its earnings results on Thursday, February 22nd. The real estate investment trust reported $0.26 EPS for the quarter, hitting analysts’ consensus estimates of $0.26. The company had revenue of $242.80 million for the quarter, compared to the consensus estimate of $244.81 million. American Homes 4 Rent had a return on equity of 1.45% and a net margin of 8.43%. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.26 earnings per share. analysts anticipate that American Homes 4 Rent will post 1.16 EPS for the current fiscal year.
American Homes 4 Rent announced that its Board of Directors has authorized a stock buyback program on Thursday, February 22nd that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to purchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
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 stock was sold at an average price of $19.67, for a total transaction of $59,010.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Douglas N. Benham acquired 2,005 shares of American Homes 4 Rent stock in a transaction on Friday, January 26th. The shares were bought at an average cost of $24.80 per share, for a total transaction of $49,724.00. The disclosure for this purchase can be found here. Insiders own 27.82% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in AMH. American International Group Inc. bought a new position in shares of American Homes 4 Rent during the fourth quarter valued at approximately $109,000. The Manufacturers Life Insurance Company grew its stake in shares of American Homes 4 Rent by 7.7% during 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 bought a new position in shares of American Homes 4 Rent during the third quarter valued at approximately $202,000. Magnetar Financial LLC bought a new position in shares of American Homes 4 Rent during the third quarter valued at approximately $228,000. Finally, Granite Springs Asset Management LLC bought a new position in shares of American Homes 4 Rent during the fourth quarter valued at approximately $279,000. 90.65% of the stock is currently owned by hedge funds and other institutional investors.
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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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