12th Street Asset Management Company LLC Sells 266,834 Shares of American Homes 4 Rent (NYSE:AMH)

Key Points

• 12th Street Asset Management Company LLC has reduced its stake in American Homes 4 Rent by 71.6%, now holding 105,605 shares valued at approximately $3.99 million.
• Director Jack E. Corrigan purchased 4,000 shares at an average price of $22.93, increasing his ownership by 36.36%, while CAO Sara H. Vogt-Lowell sold 42,500 shares, decreasing her position by 29.99%.
• American Homes 4 Rent reported an EPS of $0.46 for the last quarter, outperforming estimates, with analysts expecting a consensus target price of $40.90 for the stock.

12th Street Asset Management Company LLC lowered its stake in shares of American Homes 4 Rent (NYSE:AMH - Free Report) by 71.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 105,605 shares of the real estate investment trust's stock after selling 266,834 shares during the period. American Homes 4 Rent makes up 0.7% of 12th Street Asset Management Company LLC's investment portfolio, making the stock its 27th biggest holding. 12th Street Asset Management Company LLC's holdings in American Homes 4 Rent were worth $3,993,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Alyeska Investment Group L.P. increased its position in shares of American Homes 4 Rent by 185.2% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,989,260 shares of the real estate investment trust's stock worth $74,438,000 after acquiring an additional 1,291,865 shares in the last quarter. Allstate Corp purchased a new position in American Homes 4 Rent in the fourth quarter valued at about $371,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in American Homes 4 Rent by 16.0% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 103,691 shares of the real estate investment trust's stock valued at $3,921,000 after acquiring an additional 14,278 shares during the last quarter. Asset Management One Co. Ltd. boosted its stake in American Homes 4 Rent by 3.4% in the first quarter. Asset Management One Co. Ltd. now owns 688,009 shares of the real estate investment trust's stock valued at $26,014,000 after acquiring an additional 22,391 shares during the last quarter. Finally, Cerity Partners LLC boosted its stake in American Homes 4 Rent by 152.4% in the first quarter. Cerity Partners LLC now owns 43,157 shares of the real estate investment trust's stock valued at $1,632,000 after acquiring an additional 26,057 shares during the last quarter. Institutional investors and hedge funds own 91.87% of the company's stock.

Insider Buying and Selling at American Homes 4 Rent

In related news, Director Jack E. Corrigan bought 4,000 shares of the business's stock in a transaction dated Thursday, June 12th. The shares were purchased at an average price of $22.93 per share, with a total value of $91,720.00. Following the purchase, the director owned 15,000 shares of the company's stock, valued at approximately $343,950. This trade represents a 36.36% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 6.01% of the company's stock.

American Homes 4 Rent Price Performance

Shares of American Homes 4 Rent stock traded up $0.25 on Monday, hitting $35.44. 823,408 shares of the company traded hands, compared to its average volume of 2,242,800. The company has a market cap of $13.12 billion, a P/E ratio of 31.91, a P/E/G ratio of 3.66 and a beta of 0.72. The firm's 50-day simple moving average is $36.31 and its 200 day simple moving average is $36.28. American Homes 4 Rent has a 12-month low of $31.68 and a 12-month high of $41.41. The company has a current ratio of 0.88, a quick ratio of 0.52 and a debt-to-equity ratio of 0.66.

American Homes 4 Rent (NYSE:AMH - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.46 by $0.01. American Homes 4 Rent had a net margin of 23.72% and a return on equity of 5.60%. The firm had revenue of $457.50 million for the quarter, compared to analysts' expectations of $451.50 million. During the same quarter in the previous year, the company earned $0.45 earnings per share. The company's revenue for the quarter was up 8.0% compared to the same quarter last year. Analysts expect that American Homes 4 Rent will post 1.85 earnings per share for the current fiscal year.

American Homes 4 Rent Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.4%. American Homes 4 Rent's payout ratio is presently 108.11%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Evercore ISI boosted their target price on shares of American Homes 4 Rent from $40.00 to $41.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Raymond James Financial boosted their target price on shares of American Homes 4 Rent from $39.00 to $43.00 and gave the company an "outperform" rating in a research note on Friday, May 9th. Morgan Stanley boosted their target price on shares of American Homes 4 Rent from $39.00 to $40.50 and gave the company an "overweight" rating in a research note on Thursday, May 22nd. Citigroup cut shares of American Homes 4 Rent from a "buy" rating to a "neutral" rating and set a $41.00 target price on the stock. in a research note on Friday, June 6th. Finally, Keefe, Bruyette & Woods upped their price target on shares of American Homes 4 Rent from $38.00 to $40.00 and gave the company a "market perform" rating in a research note on Tuesday, May 6th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, American Homes 4 Rent currently has a consensus rating of "Moderate Buy" and an average target price of $40.90.

About American Homes 4 Rent

American Homes 4 Rent operates as a real estate investment trust. It engages in the acquisition, renovation, leasing, and operating of single-family homes as rental properties. The company was founded by Bradley Wayne Hughes, Sr. on October 19, 2012 and is headquartered in Las Vegas, NV.