Geode Capital Management LLC Buys 6,815 Shares of American Homes 4 Rent (NYSE:AMH)

Geode Capital Management LLC grew its holdings in American Homes 4 Rent (NYSE:AMH) by 0.1% in the 3rd quarter, Holdings Channel reports. The fund owned 6,690,248 shares of the real estate investment trust’s stock after purchasing an additional 6,815 shares during the quarter. Geode Capital Management LLC’s holdings in American Homes 4 Rent were worth $256,346,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Swedbank AB boosted its stake in shares of American Homes 4 Rent by 14.3% in the 2nd quarter. Swedbank AB now owns 400,000 shares of the real estate investment trust’s stock valued at $14,864,000 after purchasing an additional 50,000 shares in the last quarter. Blue Trust Inc. lifted its holdings in American Homes 4 Rent by 1,405.8% during the 2nd quarter. Blue Trust Inc. now owns 2,876 shares of the real estate investment trust’s stock valued at $106,000 after purchasing an additional 2,685 shares during the last quarter. Fifth Third Wealth Advisors LLC acquired a new position in American Homes 4 Rent in the second quarter valued at about $339,000. Van Lanschot Kempen Investment Management N.V. grew its stake in American Homes 4 Rent by 39.3% during the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 1,437,568 shares of the real estate investment trust’s stock worth $53,420,000 after buying an additional 405,468 shares during the last quarter. Finally, Retirement Systems of Alabama increased its holdings in shares of American Homes 4 Rent by 95.7% during the second quarter. Retirement Systems of Alabama now owns 781,684 shares of the real estate investment trust’s stock worth $29,047,000 after buying an additional 382,294 shares in the last quarter. 91.87% of the stock is owned by institutional investors.

American Homes 4 Rent Stock Performance

Shares of American Homes 4 Rent stock opened at $37.37 on Friday. The firm has a fifty day moving average of $37.52 and a two-hundred day moving average of $37.58. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.58 and a current ratio of 0.58. The stock has a market capitalization of $13.81 billion, a price-to-earnings ratio of 38.93, a PEG ratio of 3.33 and a beta of 0.78. American Homes 4 Rent has a 52 week low of $33.75 and a 52 week high of $41.41.

American Homes 4 Rent (NYSE:AMH) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.23). American Homes 4 Rent had a net margin of 21.51% and a return on equity of 4.76%. The company had revenue of $445.06 million during the quarter, compared to the consensus estimate of $443.81 million. During the same quarter in the prior year, the company posted $0.41 EPS. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, equities research analysts predict that American Homes 4 Rent will post 1.77 EPS for the current year.

American Homes 4 Rent Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend is Friday, December 13th. American Homes 4 Rent’s payout ratio is 108.33%.

Insider Activity at American Homes 4 Rent

In other American Homes 4 Rent news, Director Douglas N. Benham bought 3,286 shares of American Homes 4 Rent stock in a transaction on Thursday, December 5th. The shares were purchased at an average cost of $24.49 per share, for a total transaction of $80,474.14. Following the completion of the acquisition, the director now owns 41,946 shares in the company, valued at approximately $1,027,257.54. The trade was a 8.50 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Bryan Smith sold 40,000 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $37.80, for a total value of $1,512,000.00. Following the completion of the transaction, the chief operating officer now directly owns 125,580 shares of the company’s stock, valued at approximately $4,746,924. The trade was a 24.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.32% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Mizuho boosted their target price on American Homes 4 Rent from $39.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. The Goldman Sachs Group assumed coverage on American Homes 4 Rent in a report on Wednesday, September 4th. They set a “buy” rating and a $48.00 target price on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $41.00 price target on shares of American Homes 4 Rent in a report on Wednesday. Scotiabank reissued an “outperform” rating and set a $42.00 price objective on shares of American Homes 4 Rent in a report on Wednesday, August 21st. Finally, Wells Fargo & Company raised shares of American Homes 4 Rent from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $36.00 to $42.00 in a research note on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $41.56.

American Homes 4 Rent Company Profile

AMH (NYSE: AMH) is a leading large-scale integrated owner, operator and developer of single-family rental homes. We're an internally managed Maryland real estate investment trust (REIT) focused on acquiring, developing, renovating, leasing and managing homes as rental properties. Our goal is to simplify the experience of leasing a home and deliver peace of mind to households across the country.