Resona Asset Management Co. Ltd. Buys 13,810 Shares of American Homes 4 Rent (NYSE:AMH)

Key Points

• Resona Asset Management Co. Ltd. increased its stake in American Homes 4 Rent by 7.9%, acquiring an additional 13,810 shares for a total holding of 189,001 shares valued at approximately $7.11 million.
• Several institutional investors, including GF Fund Management and Arizona State Retirement System, have also enhanced their holdings in American Homes 4 Rent during the first quarter.
• Brokerages have set mixed ratings and price targets for the stock, with Scotiabank raising its target to $41.00 while Citigroup downgraded it to a "neutral" rating with a $41.00 target.

Resona Asset Management Co. Ltd. boosted its holdings in shares of American Homes 4 Rent (NYSE:AMH - Free Report) by 7.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 189,001 shares of the real estate investment trust's stock after buying an additional 13,810 shares during the period. Resona Asset Management Co. Ltd. owned approximately 0.05% of American Homes 4 Rent worth $7,114,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Nuveen LLC bought a new stake in American Homes 4 Rent during the first quarter valued at $113,669,000. Entropy Technologies LP bought a new stake in American Homes 4 Rent during the first quarter worth about $284,000. Pandora Wealth Inc. bought a new stake in American Homes 4 Rent during the first quarter worth about $38,000. JPMorgan Chase & Co. lifted its stake in American Homes 4 Rent by 15.2% during the first quarter. JPMorgan Chase & Co. now owns 15,899,721 shares of the real estate investment trust's stock worth $601,169,000 after purchasing an additional 2,094,497 shares during the last quarter. Finally, Townsquare Capital LLC lifted its stake in American Homes 4 Rent by 30.9% during the first quarter. Townsquare Capital LLC now owns 7,757 shares of the real estate investment trust's stock worth $293,000 after purchasing an additional 1,831 shares during the last quarter. Institutional investors own 91.87% of the company's stock.

Insider Buying and Selling at American Homes 4 Rent

In other news, Director Jack E. Corrigan bought 4,000 shares of American Homes 4 Rent stock in a transaction on Thursday, June 12th. The shares were purchased at an average price of $22.93 per share, for a total transaction of $91,720.00. Following the acquisition, the director owned 15,000 shares of the company's stock, valued at approximately $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 SEC, which can be accessed through this link. Company insiders own 6.32% of the company's stock.

American Homes 4 Rent Trading Up 0.6%

NYSE:AMH traded up $0.20 during mid-day trading on Friday, reaching $34.79. 1,660,062 shares of the company's stock traded hands, compared to its average volume of 1,975,300. American Homes 4 Rent has a 12-month low of $31.68 and a 12-month high of $41.41. The firm has a market capitalization of $12.90 billion, a price-to-earnings ratio of 31.34, a PEG ratio of 2.94 and a beta of 0.72. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.88 and a quick ratio of 0.88. The company has a 50 day moving average price of $35.78 and a 200-day moving average price of $36.26.

American Homes 4 Rent (NYSE:AMH - Get Free Report) last posted its earnings results 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 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 quarter in the prior year, the business earned $0.45 EPS. The business's revenue for the quarter was up 8.0% on a year-over-year basis. On average, sell-side analysts predict that American Homes 4 Rent will post 1.85 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AMH. Scotiabank lifted their price target on American Homes 4 Rent from $38.00 to $41.00 and gave the stock a "sector perform" rating in a research note on Monday, May 12th. Wall Street Zen raised American Homes 4 Rent from a "sell" rating to a "hold" rating in a research note on Tuesday, May 6th. Evercore ISI lifted their price target on 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. Keefe, Bruyette & Woods lifted their price objective on American Homes 4 Rent from $38.00 to $40.00 and gave the stock a "market perform" rating in a report on Tuesday, May 6th. Finally, Barclays decreased their price objective on American Homes 4 Rent from $40.00 to $39.00 and set an "equal weight" rating on the stock in a report on Tuesday. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $40.97.

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.