Mitsubishi UFJ Asset Management Co. Ltd. Acquires 52,896 Shares of American Homes 4 Rent (NYSE:AMH)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in American Homes 4 Rent by 11.6%, owning 508,592 shares valued at approximately $19.2 million at the end of the last quarter.
• American Homes 4 Rent reported a net margin of 23.72% and a quarterly revenue of $457.5 million, surpassing analyst estimates by 1.0%.
• Analysts have revised their price targets for the stock, with eight analysts rating it a buy and a consensus target price of $40.90.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of American Homes 4 Rent (NYSE:AMH - Free Report) by 11.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 508,592 shares of the real estate investment trust's stock after purchasing an additional 52,896 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.14% of American Homes 4 Rent worth $19,230,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its position in shares of American Homes 4 Rent by 8.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,721,356 shares of the real estate investment trust's stock valued at $326,355,000 after acquiring an additional 675,077 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of American Homes 4 Rent by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,935,152 shares of the real estate investment trust's stock valued at $184,670,000 after purchasing an additional 28,381 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of American Homes 4 Rent by 0.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,366,860 shares of the real estate investment trust's stock valued at $165,111,000 after purchasing an additional 32,825 shares during the last quarter. Northern Trust Corp increased its holdings in shares of American Homes 4 Rent by 40.1% in the fourth quarter. Northern Trust Corp now owns 4,183,541 shares of the real estate investment trust's stock valued at $156,548,000 after purchasing an additional 1,198,471 shares during the last quarter. Finally, Burgundy Asset Management Ltd. increased its holdings in shares of American Homes 4 Rent by 1.6% in the fourth quarter. Burgundy Asset Management Ltd. now owns 3,844,552 shares of the real estate investment trust's stock valued at $143,863,000 after purchasing an additional 60,756 shares during the last quarter. Institutional investors and hedge funds own 91.87% of the company's stock.

American Homes 4 Rent Stock Performance

AMH stock traded up $0.09 during midday trading on Friday, reaching $34.68. The company had a trading volume of 348,229 shares, compared to its average volume of 2,209,236. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.66. The stock has a 50 day moving average price of $35.82 and a 200 day moving average price of $36.25. The firm has a market capitalization of $12.86 billion, a PE ratio of 31.23, a P/E/G ratio of 2.95 and a beta of 0.72. American Homes 4 Rent has a fifty-two week low of $31.68 and a fifty-two week high of $41.41.

American Homes 4 Rent (NYSE:AMH - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The real estate investment trust reported $0.47 earnings per share (EPS) 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 company had revenue of $457.50 million for the quarter, compared to analysts' expectations of $451.50 million. During the same quarter in the prior year, the company earned $0.45 earnings per share. The firm's revenue was up 8.0% on a year-over-year basis. Analysts anticipate that American Homes 4 Rent will post 1.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Citigroup cut American Homes 4 Rent from a "buy" rating to a "neutral" rating and set a $41.00 target price for the company. in a research note on Friday, June 6th. Raymond James Financial raised their target price on American Homes 4 Rent from $39.00 to $43.00 and gave the stock an "outperform" rating in a research note on Friday, May 9th. Wall Street Zen raised American Homes 4 Rent from a "sell" rating to a "hold" rating in a research note on Tuesday, May 6th. Keefe, Bruyette & Woods lifted their price objective on 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. Finally, Morgan Stanley lifted their price objective on 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. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $40.97.

Insiders Place Their Bets

In other news, Director Jack E. Corrigan bought 4,000 shares of the business's stock in a transaction on Thursday, June 12th. The stock was purchased at an average price of $22.93 per share, with a total value of $91,720.00. Following the transaction, the director directly owned 15,000 shares in the company, valued at approximately $343,950. The trade was a 36.36% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 6.32% of the stock is currently owned by corporate insiders.

American Homes 4 Rent 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.