Vestcor Inc Sells 21,341 Shares of American Homes 4 Rent (NYSE:AMH)

Key Points

• Vestcor Inc has reduced its holdings in American Homes 4 Rent (NYSE: AMH) by 12.5%, now owning 149,382 shares valued at approximately $5.65 million.
• Multiple hedge funds have made transactions involving American Homes 4 Rent, with 91.87% of the stock now controlled by institutional investors.
• Analyst ratings for AMH reflect mixed sentiments, with price targets ranging from $40 to $43 and a consensus rating of "Moderate Buy."

Vestcor Inc lowered its stake in American Homes 4 Rent (NYSE:AMH - Free Report) by 12.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 149,382 shares of the real estate investment trust's stock after selling 21,341 shares during the quarter. Vestcor Inc's holdings in American Homes 4 Rent were worth $5,648,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in AMH. Golden State Wealth Management LLC acquired a new stake in shares of American Homes 4 Rent in the first quarter valued at approximately $29,000. Parallel Advisors LLC increased 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 buying an additional 532 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in shares of American Homes 4 Rent during the first quarter worth $42,000. Bellwether Advisors LLC acquired a new stake in American Homes 4 Rent in the fourth quarter valued at $56,000. Finally, Assetmark Inc. increased its holdings in American Homes 4 Rent by 70.2% in the first quarter. Assetmark Inc. now owns 2,357 shares of the real estate investment trust's stock valued at $89,000 after purchasing an additional 972 shares during the period. Institutional investors and hedge funds own 91.87% of the company's stock.

American Homes 4 Rent Price Performance

Shares of American Homes 4 Rent stock traded up $0.47 on Friday, hitting $35.16. The company's stock had a trading volume of 5,176,548 shares, compared to its average volume of 2,012,726. The firm has a fifty day moving average price of $36.31 and a 200-day moving average price of $36.26. American Homes 4 Rent has a 52-week low of $31.68 and a 52-week high of $41.41. The company has a market capitalization of $13.01 billion, a P/E ratio of 31.68, a price-to-earnings-growth ratio of 3.61 and a beta of 0.72. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.63.

American Homes 4 Rent (NYSE:AMH - Get Free Report) last released its quarterly 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 5.61% and a net margin of 23.72%. The firm had revenue of $457.50 million during the quarter, compared to analysts' expectations of $451.50 million. During the same quarter in the prior year, the business earned $0.45 EPS. American Homes 4 Rent's quarterly revenue was up 8.0% compared to the same quarter last year. On average, equities research analysts expect that American Homes 4 Rent will post 1.85 earnings per share for the current fiscal year.

American Homes 4 Rent Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Friday, June 13th. American Homes 4 Rent's dividend payout ratio (DPR) is 111.11%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on AMH shares. Raymond James Financial increased their price objective on shares of American Homes 4 Rent from $39.00 to $43.00 and gave the stock an "outperform" rating in a research report on Friday, May 9th. Evercore ISI lifted their price objective on shares of American Homes 4 Rent from $40.00 to $41.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Scotiabank raised their price target on shares of American Homes 4 Rent from $38.00 to $41.00 and gave the company a "sector perform" rating in a report on Monday, May 12th. 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 note on Thursday, May 22nd. Finally, Royal Bank Of Canada upped their price objective on shares of American Homes 4 Rent from $39.00 to $41.00 and gave the company an "outperform" rating in a research note on Monday, May 5th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, American Homes 4 Rent has an average rating of "Moderate Buy" and an average target price of $40.90.

Insiders Place Their Bets

In related news, Director Jack E. Corrigan purchased 4,000 shares of the company'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 purchase, the director owned 15,000 shares of the company's stock, valued at $343,950. This trade represents a 36.36% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Sara H. Vogt-Lowell sold 42,500 shares of American Homes 4 Rent stock in a transaction dated 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 sale, the chief accounting officer owned 99,214 shares of the company's stock, valued at approximately $3,870,338.14. This represents a 29.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.32% of the stock is currently owned by company insiders.

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.