Corebridge Financial Inc. Decreases Stock Position in American Homes 4 Rent $AMH

Key Points

• Corebridge Financial Inc. reduced its stake in American Homes 4 Rent by 2.4%, selling 8,567 shares and owning 350,530 shares valued at approximately $13.25 million.
• Several large investors have recently purchased shares in American Homes 4 Rent, increasing institutional ownership to 91.87%.
• American Homes 4 Rent reported a quarterly earnings per share of $0.47, exceeding analyst expectations, and announced a $0.30 quarterly dividend with a 3.4% yield.

Corebridge Financial Inc. reduced its stake in American Homes 4 Rent (NYSE:AMH - Free Report) by 2.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 350,530 shares of the real estate investment trust's stock after selling 8,567 shares during the period. Corebridge Financial Inc. owned 0.09% of American Homes 4 Rent worth $13,254,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC purchased a new position in shares of American Homes 4 Rent in the 1st quarter valued at $29,000. Parallel Advisors LLC grew its holdings in shares of 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 purchasing an additional 532 shares during the last quarter. Pandora Wealth Inc. purchased a new position in shares of American Homes 4 Rent during the first quarter worth about $38,000. Opal Wealth Advisors LLC purchased a new position in shares of American Homes 4 Rent during the first quarter worth about $42,000. Finally, SVB Wealth LLC purchased a new position in shares of American Homes 4 Rent during the first quarter worth about $42,000. 91.87% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on AMH. Raymond James Financial raised their price target 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 upgraded shares of American Homes 4 Rent from a "sell" rating to a "hold" rating in a research report on Tuesday, May 6th. Scotiabank raised their price objective on shares of American Homes 4 Rent from $38.00 to $41.00 and gave the stock a "sector perform" rating in a research report on Monday, May 12th. Keefe, Bruyette & Woods raised their price objective on shares of American Homes 4 Rent from $38.00 to $40.00 and gave the stock a "market perform" rating in a research report on Tuesday, May 6th. Finally, Citigroup lowered American Homes 4 Rent from a "buy" rating to a "neutral" rating and set a $41.00 price target on the stock. in a report on Friday, June 6th. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $41.00.

American Homes 4 Rent Stock Performance

AMH traded up $0.43 during trading on Friday, reaching $35.83. The company's stock had a trading volume of 1,780,516 shares, compared to its average volume of 2,091,747. American Homes 4 Rent has a 52-week low of $31.68 and a 52-week high of $41.41. The company's fifty day moving average price is $35.53 and its 200-day moving average price is $36.27. The company has a market capitalization of $13.29 billion, a price-to-earnings ratio of 32.27, a price-to-earnings-growth ratio of 2.99 and a beta of 0.72. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.88 and a current ratio of 0.88.

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 for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $451.50 million. During the same period in the previous year, the business earned $0.45 earnings per share. The company'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. On average, equities analysts forecast 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 will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Monday, September 15th. American Homes 4 Rent's payout ratio is presently 108.11%.

Insider Buying and Selling

In related news, Director Jack E. Corrigan acquired 4,000 shares of the firm's stock in a transaction that occurred on 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 completion of the acquisition, the director owned 15,000 shares in the company, valued at approximately $343,950. This represents a 36.36% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 6.32% of the company's stock.

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.