American Homes 4 Rent (NYSE:AMH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The brokerage currently has a $24.00 price objective on the stock. Zacks Investment Research’s price objective would suggest a potential upside of 14.34% 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. “

Several other equities research analysts also recently commented on AMH. TheStreet raised shares of American Homes 4 Rent from a “sell” rating to a “hold” rating in a research report on Monday, August 1st. FBR & Co boosted their target price on shares of American Homes 4 Rent from $22.00 to $26.00 and gave the stock an “outperform” rating in a research report on Monday, August 8th. Keefe, Bruyette & Woods boosted their target price on shares of American Homes 4 Rent from $19.00 to $22.00 and gave the stock a “market perform” rating in a research report on Monday, August 8th. Zelman & Associates raised shares of American Homes 4 Rent from a “hold” rating to a “buy” rating in a research report on Monday, August 8th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $20.00 target price (up from $19.00) on shares of American Homes 4 Rent in a research report on Saturday, August 13th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $23.60.

Analyst Recommendations for American Homes 4 Rent (NYSE:AMH)

Shares of American Homes 4 Rent (NYSE:AMH) traded up 0.14% during midday trading on Tuesday, reaching $20.99. 3,433,794 shares of the company traded hands. The company has a 50-day moving average of $20.76 and a 200 day moving average of $20.46. American Homes 4 Rent has a 12-month low of $13.16 and a 12-month high of $22.99. The firm’s market capitalization is $5.00 billion.

American Homes 4 Rent (NYSE:AMH) last announced its quarterly earnings data on Thursday, November 3rd. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.01. American Homes 4 Rent had a negative net margin of 2.47% and a negative return on equity of 0.45%. The firm had revenue of $236.10 million for the quarter, compared to analyst estimates of $49.46 million. During the same quarter in the prior year, the business earned $0.19 earnings per share. The business’s quarterly revenue was up 36.8% compared to the same quarter last year. On average, equities analysts forecast that American Homes 4 Rent will post $0.97 earnings per share for the current year.

In other news, insider Bryan Smith sold 12,000 shares of the stock in a transaction that occurred on Thursday, September 29th. The shares were sold at an average price of $21.70, for a total transaction of $260,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Tamara Hughes Gustavson bought 80,681 shares of American Homes 4 Rent stock in a transaction dated Thursday, November 17th. The shares were bought at an average cost of $20.55 per share, with a total value of $1,657,994.55. Following the completion of the transaction, the director now directly owns 12,972,446 shares in the company, valued at $266,583,765.30. The disclosure for this purchase can be found here. 23.31% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMH. Boston Partners increased its position in American Homes 4 Rent by 0.3% in the second quarter. Boston Partners now owns 12,860,820 shares of the company’s stock worth $263,389,000 after buying an additional 37,951 shares in the last quarter. Daiwa Securities Group Inc. increased its position in American Homes 4 Rent by 135,701.3% in the third quarter. Daiwa Securities Group Inc. now owns 8,702,150 shares of the company’s stock worth $188,315,000 after buying an additional 8,695,742 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in American Homes 4 Rent by 14.6% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 7,490,626 shares of the company’s stock worth $162,097,000 after buying an additional 956,065 shares in the last quarter. Brookfield Asset Management Inc. increased its position in American Homes 4 Rent by 19.4% in the third quarter. Brookfield Asset Management Inc. now owns 6,309,209 shares of the company’s stock worth $136,531,000 after buying an additional 1,024,311 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in American Homes 4 Rent by 17.5% in the third quarter. Bank of New York Mellon Corp now owns 4,582,879 shares of the company’s stock worth $99,173,000 after buying an additional 683,807 shares in the last quarter. 76.99% of the stock is 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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