American Homes 4 Rent (NYSE:AMH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The brokerage presently has a $23.00 price objective on the stock. Zacks Investment Research’s price objective would indicate a potential upside of 11.87% from the company’s previous close.

According to Zacks, “American Homes 4 Rent is an internally managed real estate investment trust. It is focused on acquiring, renovating, leasing, and operating single-family homes as rental properties. It rents residential properties primarily in Arizona, California, Florida, Georgia, and Nevada. American Homes 4 Rent is based in Malibu, California. “

A number of other brokerages have also recently issued reports on AMH. FBR & Co upped their price target on shares of American Homes 4 Rent from $22.00 to $26.00 and gave the stock an “outperform” rating in a research note on Monday, August 8th. Keefe, Bruyette & Woods upped their price target on shares of American Homes 4 Rent from $19.00 to $22.00 and gave the stock a “market perform” rating in a research note on Monday, August 8th. TheStreet upgraded shares of American Homes 4 Rent from a “sell” rating to a “hold” rating in a research note on Monday, August 1st. Wells Fargo & Co. reiterated a “hold” rating on shares of American Homes 4 Rent in a research note on Wednesday, August 17th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $20.00 price target (up previously from $19.00) on shares of American Homes 4 Rent in a research note on Saturday, August 13th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $23.40.

American Homes 4 Rent (NYSE:AMH) traded down 3.43% during trading on Tuesday, hitting $20.56. 3,305,294 shares of the stock traded hands. The company’s market cap is $4.90 billion. American Homes 4 Rent has a 52-week low of $13.16 and a 52-week high of $22.99. The firm has a 50-day moving average price of $21.79 and a 200 day moving average price of $19.27.

American Homes 4 Rent (NYSE:AMH) last released its earnings results on Thursday, August 4th. The company reported $0.21 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.23 by $0.02. The business earned $221 million during the quarter, compared to analysts’ expectations of $219.32 million. American Homes 4 Rent had a negative return on equity of 0.83% and a negative net margin of 4.72%. The firm’s quarterly revenue was up 43.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.17 earnings per share. On average, equities analysts expect that American Homes 4 Rent will post $0.96 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.97%. The ex-dividend date was Tuesday, September 13th. American Homes 4 Rent’s dividend payout ratio is currently -66.66%.

In other news, COO Jack E. Corrigan sold 91,324 shares of the company’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $20.97, for a total transaction of $1,915,064.28. Following the completion of the sale, the chief operating officer now owns 100 shares of the company’s stock, valued at approximately $2,097. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bryan Smith sold 12,000 shares of the company’s stock in a transaction dated Thursday, September 29th. The shares were sold at an average price of $21.70, for a total transaction of $260,400.00. The disclosure for this sale can be found here. Company insiders own 23.31% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. Forward Management LLC raised its stake in American Homes 4 Rent by 262.4% in the first quarter. Forward Management LLC now owns 2,116,249 shares of the company’s stock valued at $33,648,000 after buying an additional 1,532,249 shares during the last quarter. Rafferty Asset Management LLC raised its stake in American Homes 4 Rent by 81.9% in the first quarter. Rafferty Asset Management LLC now owns 26,686 shares of the company’s stock valued at $424,000 after buying an additional 12,019 shares during the last quarter. State Street Corp raised its stake in American Homes 4 Rent by 26.3% in the first quarter. State Street Corp now owns 4,902,960 shares of the company’s stock valued at $77,954,000 after buying an additional 1,022,469 shares during the last quarter. Credit Agricole S A raised its stake in American Homes 4 Rent by 49.1% in the first quarter. Credit Agricole S A now owns 74,704 shares of the company’s stock valued at $1,188,000 after buying an additional 24,601 shares during the last quarter. Finally, Brookfield Asset Management Inc. acquired a new stake in American Homes 4 Rent during the first quarter valued at approximately $18,516,000. 72.47% of the stock is owned by hedge funds and other institutional investors.

American Homes 4 Rent Company Profile

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.

5 Day Chart for NYSE:AMH

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