EverSource Wealth Advisors LLC Sells 10,738 Shares of American Homes 4 Rent (NYSE:AMH)

Key Points

• EverSource Wealth Advisors LLC reduced its stake in American Homes 4 Rent by 5.5%, selling 10,738 shares and retaining approximately 185,346 shares valued at $7 million.
• Analysts have mixed outlooks on American Homes 4 Rent, with price targets ranging from $39.00 to $43.00 and a consensus rating of "Moderate Buy."
• In the most recent quarter, American Homes 4 Rent reported a 7.8% increase in revenue year-over-year, achieving earnings per share of $0.47, surpassing estimates.

EverSource Wealth Advisors LLC cut its stake in shares of American Homes 4 Rent (NYSE:AMH - Free Report) by 5.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 185,346 shares of the real estate investment trust's stock after selling 10,738 shares during the quarter. EverSource Wealth Advisors LLC owned approximately 0.05% of American Homes 4 Rent worth $7,008,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Alyeska Investment Group L.P. boosted its position in American Homes 4 Rent by 185.2% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,989,260 shares of the real estate investment trust's stock valued at $74,438,000 after buying an additional 1,291,865 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position 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 buying an additional 14,278 shares in the last quarter. Asset Management One Co. Ltd. boosted its position 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 buying an additional 22,391 shares in the last quarter. Cerity Partners LLC boosted its position 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 buying an additional 26,057 shares in the last quarter. Finally, Northern Trust Corp boosted its position in 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 buying an additional 1,198,471 shares in the last quarter. 91.87% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AMH has been the topic of a number of recent analyst reports. Barclays reduced their price target on shares of American Homes 4 Rent from $40.00 to $39.00 and set an "equal weight" rating on the stock in a research report on Tuesday. Keefe, Bruyette & Woods lifted their price target on American Homes 4 Rent from $38.00 to $40.00 and gave the company a "market perform" rating in a report on Tuesday, May 6th. Royal Bank Of Canada lifted 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. Raymond James Financial lifted 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. Finally, Morgan Stanley lifted 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 research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, American Homes 4 Rent presently has an average rating of "Moderate Buy" and an average price target of $40.97.

Insider Activity

In related news, Director Jack E. Corrigan bought 4,000 shares of the firm's stock in a transaction dated Thursday, June 12th. The stock was bought at an average cost 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. This represents a 36.36% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 6.32% of the company's stock.

American Homes 4 Rent Stock Performance

Shares of NYSE:AMH opened at $34.60 on Friday. The stock has a market capitalization of $12.83 billion, a P/E ratio of 31.17, a P/E/G ratio of 2.95 and a beta of 0.72. American Homes 4 Rent has a 1-year low of $31.68 and a 1-year high of $41.41. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.66. The business has a 50-day moving average price of $35.82 and a two-hundred day moving average price of $36.25.

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

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.

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