Verition Fund Management LLC lifted its holdings in shares of American Homes 4 Rent (NYSE:AMH) by 178.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 38,323 shares of the real estate investment trust’s stock after buying an additional 24,556 shares during the period. Verition Fund Management LLC’s holdings in American Homes 4 Rent were worth $837,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. American International Group Inc. bought a new position in American Homes 4 Rent in the 4th quarter worth about $109,000. The Manufacturers Life Insurance Company grew its position in American Homes 4 Rent by 7.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,247 shares of the real estate investment trust’s stock worth $164,000 after purchasing an additional 515 shares during the last quarter. CIBC Asset Management Inc bought a new position in American Homes 4 Rent in the 3rd quarter worth about $202,000. Magnetar Financial LLC bought a new position in American Homes 4 Rent in the 3rd quarter worth about $228,000. Finally, Granite Springs Asset Management LLC bought a new position in American Homes 4 Rent in the 4th quarter worth about $279,000. 90.65% of the stock is owned by institutional investors and hedge funds.
In other news, Director Dann V. Angeloff sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $19.67, for a total value of $59,010.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Douglas N. Benham purchased 2,005 shares of American Homes 4 Rent stock in a transaction dated Friday, January 26th. The stock was bought at an average cost of $24.80 per share, with a total value of $49,724.00. The disclosure for this purchase can be found here. Corporate insiders own 27.82% of the company’s stock.
Several research firms have commented on AMH. JPMorgan Chase & Co. upgraded shares of American Homes 4 Rent from a “neutral” rating to an “overweight” rating and set a $26.00 target price for the company in a research report on Friday, December 15th. Keefe, Bruyette & Woods upgraded shares of American Homes 4 Rent from a “market perform” rating to an “outperform” rating in a research report on Thursday, December 7th. Evercore ISI upgraded shares of American Homes 4 Rent from an “in-line” rating to an “outperform” rating and set a $24.50 target price for the company in a research report on Monday, December 4th. Zacks Investment Research cut shares of American Homes 4 Rent from a “hold” rating to a “sell” rating in a research report on Tuesday, February 27th. Finally, B. Riley began coverage on shares of American Homes 4 Rent in a research report on Monday, March 12th. They issued a “buy” rating and a $26.00 target price for the company. Two analysts have rated the stock with a sell rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $24.56.
Shares of American Homes 4 Rent stock opened at $19.86 on Monday. The firm has a market cap of $5,695.03, a P/E ratio of 19.28, a PEG ratio of 1.51 and a beta of 0.65. American Homes 4 Rent has a one year low of $18.39 and a one year high of $23.83. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.40.
American Homes 4 Rent (NYSE:AMH) last issued its quarterly earnings results on Thursday, February 22nd. The real estate investment trust reported $0.26 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.26. The company had revenue of $242.80 million during the quarter, compared to analyst estimates of $244.81 million. American Homes 4 Rent had a net margin of 8.43% and a return on equity of 1.45%. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.26 EPS. research analysts anticipate that American Homes 4 Rent will post 1.16 earnings per share for the current year.
American Homes 4 Rent announced that its board has approved a stock repurchase plan on Thursday, February 22nd that allows the company to buyback $300.00 million in shares. This buyback authorization allows the real estate investment trust to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Thursday, March 15th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date is Wednesday, March 14th. American Homes 4 Rent’s dividend payout ratio is currently -250.00%.
ILLEGAL ACTIVITY WARNING: This article was first reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this article on another publication, it was illegally copied and republished in violation of international copyright and trademark law. The original version of this article can be accessed at https://ledgergazette.com/2018/03/19/verition-fund-management-llc-acquires-24556-shares-of-american-homes-4-rent-amh.html.
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.
Want to see what other hedge funds are holding AMH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Homes 4 Rent (NYSE:AMH).
Receive News & Ratings for American Homes 4 Rent Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Homes 4 Rent and related companies with MarketBeat.com's FREE daily email newsletter.