Everence Capital Management Inc. Makes New Investment in American Homes 4 Rent (NYSE:AMH)

Everence Capital Management Inc. purchased a new stake in American Homes 4 Rent (NYSE:AMH) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 8,640 shares of the real estate investment trust’s stock, valued at approximately $323,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. GAMMA Investing LLC lifted its stake in American Homes 4 Rent by 14.0% in the 4th quarter. GAMMA Investing LLC now owns 4,091 shares of the real estate investment trust’s stock valued at $153,000 after acquiring an additional 503 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of American Homes 4 Rent by 1.7% in the third quarter. JPMorgan Chase & Co. now owns 13,115,483 shares of the real estate investment trust’s stock valued at $503,503,000 after purchasing an additional 214,242 shares during the last quarter. Retirement Systems of Alabama lifted its position in shares of American Homes 4 Rent by 2.0% in the third quarter. Retirement Systems of Alabama now owns 797,615 shares of the real estate investment trust’s stock worth $30,620,000 after purchasing an additional 15,931 shares in the last quarter. Tidal Investments LLC boosted its holdings in American Homes 4 Rent by 39.4% during the third quarter. Tidal Investments LLC now owns 16,457 shares of the real estate investment trust’s stock worth $632,000 after purchasing an additional 4,649 shares during the last quarter. Finally, Sanctuary Advisors LLC bought a new position in American Homes 4 Rent in the third quarter valued at $762,000. 91.87% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AMH has been the topic of several analyst reports. StockNews.com cut shares of American Homes 4 Rent from a “hold” rating to a “sell” rating in a research report on Tuesday, December 3rd. Barclays assumed coverage on American Homes 4 Rent in a report on Tuesday, December 17th. They set an “equal weight” rating and a $39.00 target price on the stock. Mizuho raised their price target on American Homes 4 Rent from $39.00 to $40.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods dropped their price objective on American Homes 4 Rent from $39.00 to $38.00 and set a “market perform” rating on the stock in a research note on Wednesday, November 6th. Finally, JPMorgan Chase & Co. increased their price objective on American Homes 4 Rent from $38.00 to $43.00 and gave the company a “neutral” rating in a report on Monday, September 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $41.40.

American Homes 4 Rent Stock Performance

NYSE AMH opened at $36.08 on Tuesday. The stock has a market cap of $13.33 billion, a PE ratio of 37.58, a P/E/G ratio of 3.33 and a beta of 0.78. 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 firm has a 50-day moving average of $37.18 and a 200-day moving average of $37.72. 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 posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.20 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.23). The firm had revenue of $445.06 million during the quarter, compared to analyst estimates of $443.81 million. American Homes 4 Rent had a net margin of 21.51% and a return on equity of 4.76%. American Homes 4 Rent’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.41 EPS. On average, sell-side analysts anticipate that American Homes 4 Rent will post 1.77 EPS for the current year.

American Homes 4 Rent Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date was Friday, December 13th. American Homes 4 Rent’s dividend payout ratio is currently 108.33%.

Insider Activity

In other news, COO Bryan Smith sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $37.80, for a total transaction of $1,512,000.00. Following the transaction, the chief operating officer now directly owns 125,580 shares of the company’s stock, valued at approximately $4,746,924. This trade represents a 24.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Douglas N. Benham purchased 3,286 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The stock was bought at an average price of $24.49 per share, with a total value of $80,474.14. Following the completion of the purchase, the director now owns 41,946 shares of the company’s stock, valued at $1,027,257.54. This trade represents a 8.50 % increase in their position. The disclosure for this purchase can be found here. 6.32% of the stock is currently owned by company insiders.

About American Homes 4 Rent

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.