Principal Financial Group Inc. Sells 306,956 Shares of American Homes 4 Rent (NYSE:AMH)

Principal Financial Group Inc. decreased its position in shares of American Homes 4 Rent (NYSE:AMH - Free Report) by 1.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,680,186 shares of the real estate investment trust's stock after selling 306,956 shares during the quarter. Principal Financial Group Inc. owned about 4.24% of American Homes 4 Rent worth $592,868,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mountain Hill Investment Partners Corp. acquired a new stake in American Homes 4 Rent in the fourth quarter worth about $26,000. Golden State Wealth Management LLC acquired a new stake in American Homes 4 Rent in the first quarter worth about $29,000. Parallel Advisors LLC lifted its holdings in American Homes 4 Rent by 171.1% in 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 period. Jones Financial Companies Lllp lifted its holdings in American Homes 4 Rent by 56.6% in the fourth quarter. Jones Financial Companies Lllp now owns 1,084 shares of the real estate investment trust's stock worth $41,000 after purchasing an additional 392 shares during the period. Finally, Opal Wealth Advisors LLC acquired a new stake in American Homes 4 Rent in the first quarter worth about $42,000. Institutional investors and hedge funds own 91.87% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on AMH shares. Barclays boosted their price target on shares of American Homes 4 Rent from $37.00 to $38.00 and gave the stock an "equal weight" rating in a research report on Wednesday, March 12th. Evercore ISI boosted their price target on shares of American Homes 4 Rent from $40.00 to $41.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Morgan Stanley boosted their price target on shares of American Homes 4 Rent from $39.00 to $40.50 and gave the stock an "overweight" rating in a research report on Thursday, May 22nd. Scotiabank boosted 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 research report on Monday, May 12th. Finally, Keefe, Bruyette & Woods boosted their price target 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. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, American Homes 4 Rent has a consensus rating of "Moderate Buy" and a consensus price target of $40.90.

Insider Activity at American Homes 4 Rent

In other news, Director Jack E. Corrigan purchased 4,000 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was acquired at an average price of $22.93 per share, with a total value of $91,720.00. Following the purchase, the director owned 15,000 shares in the company, valued at $343,950. This represents a 36.36% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sara H. Vogt-Lowell sold 42,500 shares of the business's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $39.01, for a total value of $1,657,925.00. Following the completion of the sale, the chief accounting officer directly owned 99,214 shares of the company's stock, valued at approximately $3,870,338.14. The trade was a 29.99% decrease in their position. The disclosure for this sale can be found here. Insiders own 6.32% of the company's stock.

American Homes 4 Rent Stock Up 1.2%

Shares of AMH traded up $0.44 during trading hours on Thursday, reaching $35.88. The company's stock had a trading volume of 1,235,726 shares, compared to its average volume of 2,218,213. The firm has a market cap of $13.28 billion, a price-to-earnings ratio of 33.22, a P/E/G ratio of 3.68 and a beta of 0.74. American Homes 4 Rent has a 1-year low of $31.68 and a 1-year high of $41.41. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.63. The company has a 50 day moving average of $37.28 and a two-hundred day moving average of $36.37.

American Homes 4 Rent (NYSE:AMH - Get Free Report) last issued its earnings results on Thursday, May 1st. The real estate investment trust reported $0.46 earnings per share for the quarter, beating analysts' consensus estimates of $0.45 by $0.01. The company had revenue of $459.28 million for the quarter, compared to the consensus estimate of $449.00 million. American Homes 4 Rent had a return on equity of 5.45% and a net margin of 23.41%. The firm's quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.43 EPS. As a group, research analysts predict that American Homes 4 Rent will post 1.85 EPS for the current fiscal year.

American Homes 4 Rent Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were paid a $0.30 dividend. The ex-dividend date was Friday, June 13th. This represents a $1.20 annualized dividend and a dividend yield of 3.34%. American Homes 4 Rent's payout ratio is 111.11%.

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.