American Assets Investment Management LLC Invests $2.44 Million in American Homes 4 Rent (NYSE:AMH)

Key Points

• American Assets Investment Management LLC has made a new investment in American Homes 4 Rent, acquiring 64,443 shares valued at approximately $2.4 million during the first quarter.
• Several hedge funds, including Golden State Wealth Management and Parallel Advisors, have also increased their positions in American Homes 4 Rent, leading to 91.87% of the stock being owned by institutional investors.
• Wall Street analysts have expressed optimism about the stock's performance, with multiple firms raising their price targets, indicating an average target of $40.90 and a rating of "Moderate Buy."

American Assets Investment Management LLC purchased a new position in shares of American Homes 4 Rent (NYSE:AMH - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 64,443 shares of the real estate investment trust's stock, valued at approximately $2,437,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Invesco Ltd. increased its holdings in American Homes 4 Rent by 186.2% during the 4th quarter. Invesco Ltd. now owns 6,292,773 shares of the real estate investment trust's stock worth $235,476,000 after purchasing an additional 4,094,177 shares during the last quarter. Alyeska Investment Group L.P. increased its holdings in American Homes 4 Rent by 185.2% during the 4th 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 purchasing an additional 1,291,865 shares during the last quarter. Northern Trust Corp increased its holdings in American Homes 4 Rent by 40.1% during the 4th quarter. Northern Trust Corp now owns 4,183,541 shares of the real estate investment trust's stock worth $156,548,000 after purchasing an additional 1,198,471 shares during the last quarter. Millennium Management LLC increased its holdings in American Homes 4 Rent by 140.7% during the 4th quarter. Millennium Management LLC now owns 1,859,115 shares of the real estate investment trust's stock worth $69,568,000 after purchasing an additional 1,086,835 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in American Homes 4 Rent by 101.0% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,889,918 shares of the real estate investment trust's stock worth $71,458,000 after purchasing an additional 949,550 shares during the last quarter. 91.87% of the stock is owned by institutional investors and hedge funds.

American Homes 4 Rent Stock Down 1.0%

Shares of AMH traded down $0.34 during trading hours on Friday, hitting $34.41. 1,218,131 shares of the company were exchanged, compared to its average volume of 2,108,573. The company has a market cap of $12.76 billion, a PE ratio of 31.00, a PEG ratio of 3.61 and a beta of 0.72. The firm's 50 day moving average is $36.05 and its 200-day moving average is $36.26. American Homes 4 Rent has a 52 week low of $31.68 and a 52 week high of $41.41. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.52 and a current ratio of 0.88.

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

Insiders Place Their Bets

In other news, Director Jack E. Corrigan acquired 4,000 shares of American Homes 4 Rent stock in a transaction on Thursday, June 12th. The stock was bought at an average price of $22.93 per share, for a total transaction of $91,720.00. Following the transaction, the director owned 15,000 shares of the company's stock, valued at $343,950. The trade was a 36.36% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 6.32% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Raymond James Financial boosted their price target on American Homes 4 Rent from $39.00 to $43.00 and gave the company an "outperform" rating in a report on Friday, May 9th. Royal Bank Of Canada boosted their price target on American Homes 4 Rent from $39.00 to $41.00 and gave the company an "outperform" rating in a report on Monday, May 5th. Citigroup downgraded American Homes 4 Rent from a "buy" rating to a "neutral" rating and set a $41.00 price target for the company. in a report on Friday, June 6th. Evercore ISI boosted their price target on American Homes 4 Rent from $40.00 to $41.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Finally, Morgan Stanley boosted their price target on American Homes 4 Rent from $39.00 to $40.50 and gave the company an "overweight" rating in a report on Thursday, May 22nd. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $40.90.

American Homes 4 Rent Company Profile

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.