Burgundy Asset Management Ltd. Grows Stock Holdings in American Homes 4 Rent $AMH

Key Points

• Burgundy Asset Management Ltd. increased its stake in American Homes 4 Rent by 6.9%, now holding approximately $155.45 million worth of shares.
• American Homes 4 Rent's stock received mixed ratings from analysts, with Citigroup lowering its rating to "neutral" and a consensus rating of "Moderate Buy" and an average price target of $41.04.
• The company reported $457.50 million in revenue for the last quarter, exceeding analyst estimates and marking an 8% year-over-year increase.

Burgundy Asset Management Ltd. boosted its position in shares of American Homes 4 Rent (NYSE:AMH - Free Report) by 6.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,111,296 shares of the real estate investment trust's stock after buying an additional 266,744 shares during the quarter. American Homes 4 Rent accounts for approximately 1.6% of Burgundy Asset Management Ltd.'s investment portfolio, making the stock its 25th largest position. Burgundy Asset Management Ltd. owned 1.11% of American Homes 4 Rent worth $155,448,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Golden State Wealth Management LLC purchased a new position in American Homes 4 Rent during the first quarter worth $29,000. Parallel Advisors LLC boosted its stake in American Homes 4 Rent by 171.1% during the first quarter. Parallel Advisors LLC now owns 843 shares of the real estate investment trust's stock worth $32,000 after buying an additional 532 shares during the period. Pandora Wealth Inc. purchased a new position in American Homes 4 Rent during the first quarter worth $38,000. Opal Wealth Advisors LLC purchased a new position in American Homes 4 Rent during the first quarter worth $42,000. Finally, Avalon Trust Co purchased a new position in American Homes 4 Rent during the first quarter worth $52,000. 91.87% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other American Homes 4 Rent news, Director Jack E. Corrigan acquired 4,000 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was bought at an average cost of $22.93 per share, with a total value of $91,720.00. Following the completion of the purchase, the director directly owned 15,000 shares in the company, valued at $343,950. The trade was a 36.36% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.32% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Evercore ISI lifted their price objective on shares of American Homes 4 Rent from $40.00 to $41.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Wall Street Zen raised shares of American Homes 4 Rent from a "sell" rating to a "hold" rating in a research note on Tuesday, May 6th. Morgan Stanley lifted their price objective on shares of American Homes 4 Rent from $40.50 to $41.00 and gave the stock an "overweight" rating in a research note on Tuesday. Keefe, Bruyette & Woods boosted their target price 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. Finally, Scotiabank upped their price target on shares of American Homes 4 Rent from $38.00 to $41.00 and gave the stock a "sector perform" rating in a report on Monday, May 12th. Eight investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $41.07.

American Homes 4 Rent Stock Up 1.3%

NYSE:AMH traded up $0.4490 during mid-day trading on Friday, reaching $35.6790. The company's stock had a trading volume of 1,358,232 shares, compared to its average volume of 2,211,659. American Homes 4 Rent has a 1 year low of $31.68 and a 1 year high of $41.41. The stock has a fifty day moving average of $35.64 and a 200-day moving average of $36.26. The firm has a market capitalization of $13.23 billion, a PE ratio of 32.18, a price-to-earnings-growth ratio of 2.97 and a beta of 0.72. The company has a quick ratio of 0.88, a current ratio of 0.88 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 for the quarter, topping 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 company had revenue of $457.50 million during the quarter, compared to analyst estimates of $451.50 million. During the same period in the prior year, the firm earned $0.45 earnings per share. The firm's revenue for the quarter was up 8.0% compared to the same quarter last year. American Homes 4 Rent has set its FY 2025 guidance at 1.840-1.880 EPS. Equities research analysts forecast that American Homes 4 Rent will post 1.85 earnings per share for the current year.

American Homes 4 Rent Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.20 dividend on an annualized basis and a yield of 3.4%. American Homes 4 Rent's dividend payout ratio is 108.11%.

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.