Mizuho set a $23.00 price objective on American Homes 4 Rent (NYSE:AMH) in a research note published on Monday, March 19th. The firm currently has a buy rating on the real estate investment trust’s stock.
AMH has been the topic of several other reports. Evercore ISI upgraded American Homes 4 Rent from an in-line rating to an outperform rating and set a $24.50 price objective on the stock in a research note on Monday, December 4th. Keefe, Bruyette & Woods upgraded American Homes 4 Rent from a market perform rating to an outperform rating in a research note on Thursday, December 7th. JPMorgan Chase upgraded American Homes 4 Rent from a neutral rating to an overweight rating and set a $26.00 target price on the stock in a research note on Friday, December 15th. TheStreet cut American Homes 4 Rent from a b- rating to a c+ rating in a research note on Wednesday, January 10th. Finally, B. Riley set a $26.00 price objective on shares of American Homes 4 Rent and gave the company a buy rating in a research note on Friday, February 23rd. Two analysts have rated the stock with a sell rating and nine have issued a buy rating to the company. The stock has an average rating of Buy and an average target price of $24.50.
AMH traded down $0.15 on Monday, reaching $19.71. 1,216,404 shares of the company’s stock were exchanged, compared to its average volume of 2,215,852. The company has a market cap of $5,703.64, a PE ratio of 19.47, a price-to-earnings-growth ratio of 1.29 and a beta of 0.59. American Homes 4 Rent has a twelve month low of $18.39 and a twelve month high of $23.83. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.59 and a current ratio of 0.59.
American Homes 4 Rent (NYSE:AMH) last posted its earnings results on Thursday, February 22nd. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.26. American Homes 4 Rent had a net margin of 8.43% and a return on equity of 1.45%. The firm had revenue of $242.80 million during the quarter, compared to the consensus estimate of $244.81 million. During the same quarter in the prior year, the company earned $0.26 EPS. The company’s revenue was up 6.7% on a year-over-year basis. sell-side analysts predict that American Homes 4 Rent will post 1.12 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, April 2nd. Stockholders of record on Thursday, March 15th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, March 14th. This represents a $0.20 annualized dividend and a dividend yield of 1.01%. American Homes 4 Rent’s dividend payout ratio is 19.61%.
American Homes 4 Rent announced that its Board of Directors has initiated a stock buyback plan on Thursday, February 22nd that permits the company to buyback $300.00 million in shares. This buyback authorization permits the real estate investment trust to repurchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.
In other American Homes 4 Rent news, Director Douglas N. Benham purchased 2,005 shares of the company’s stock in a transaction on Friday, January 26th. The shares were bought at an average cost of $24.80 per share, with a total value of $49,724.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Dann V. Angeloff sold 3,000 shares of American Homes 4 Rent stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $19.67, for a total value of $59,010.00. The disclosure for this sale can be found here. 27.82% of the stock is owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. American International Group Inc. bought a new stake in American Homes 4 Rent in the fourth quarter valued at $109,000. The Manufacturers Life Insurance Company boosted its stake in American Homes 4 Rent by 7.7% in the second 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 in the last quarter. CIBC Asset Management Inc acquired a new position in American Homes 4 Rent in the third quarter worth $202,000. Magnetar Financial LLC acquired a new position in American Homes 4 Rent in the third quarter worth $228,000. Finally, Granite Springs Asset Management LLC acquired a new position in American Homes 4 Rent in the fourth quarter worth $279,000. Institutional investors and hedge funds own 90.66% of the company’s stock.
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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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