Resona Asset Management Co. Ltd. Acquires New Position in American Homes 4 Rent (NYSE:AMH)

Resona Asset Management Co. Ltd. bought a new position in shares of American Homes 4 Rent (NYSE:AMH) during the fourth quarter, HoldingsChannel.com reports. The firm bought 175,191 shares of the real estate investment trust’s stock, valued at approximately $6,515,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC raised its stake in shares of American Homes 4 Rent by 4.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 196,084 shares of the real estate investment trust’s stock valued at $7,337,000 after acquiring an additional 8,370 shares in the last quarter. TCW Group Inc. acquired a new stake in American Homes 4 Rent in the 3rd quarter valued at about $962,000. Clearbridge Investments LLC boosted its stake in shares of American Homes 4 Rent by 26.3% in the 4th quarter. Clearbridge Investments LLC now owns 2,821,944 shares of the real estate investment trust’s stock valued at $105,597,000 after buying an additional 588,302 shares during the period. PGGM Investments grew its position in shares of American Homes 4 Rent by 7.3% during the fourth quarter. PGGM Investments now owns 1,062,538 shares of the real estate investment trust’s stock worth $39,760,000 after buying an additional 71,890 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of American Homes 4 Rent by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,334,035 shares of the real estate investment trust’s stock worth $162,180,000 after buying an additional 110,022 shares during the period. Hedge funds and other institutional investors own 91.87% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on AMH. 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 report on Wednesday, March 12th. JMP Securities reissued a “market outperform” rating and issued a $41.00 target price on shares of American Homes 4 Rent in a report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft cut American Homes 4 Rent from a “buy” rating to a “hold” rating and cut their price target for the company from $40.00 to $37.00 in a research note on Tuesday, January 21st. Mizuho lowered their price objective on American Homes 4 Rent from $41.00 to $37.00 and set an “outperform” rating for the company in a research report on Thursday, March 13th. Finally, Royal Bank of Canada cut their target price on American Homes 4 Rent from $40.00 to $39.00 and set an “outperform” rating on the stock in a research report on Monday, February 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $40.23.

American Homes 4 Rent Stock Performance

Shares of AMH opened at $34.01 on Tuesday. The company’s 50 day simple moving average is $35.87 and its 200-day simple moving average is $36.72. The firm has a market cap of $12.59 billion, a PE ratio of 31.49, a price-to-earnings-growth ratio of 3.56 and a beta of 0.73. American Homes 4 Rent has a 12-month low of $33.79 and a 12-month high of $41.41. The company has a current ratio of 0.76, a quick ratio of 0.58 and a debt-to-equity ratio of 0.64.

American Homes 4 Rent (NYSE:AMH) last issued its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.30. American Homes 4 Rent had a net margin of 23.86% and a return on equity of 5.33%. The company had revenue of $436.59 million for the quarter, compared to the consensus estimate of $442.02 million. As a group, equities analysts predict that American Homes 4 Rent will post 1.85 EPS for the current year.

American Homes 4 Rent Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from American Homes 4 Rent’s previous quarterly dividend of $0.26. This represents a $1.20 annualized dividend and a yield of 3.53%. American Homes 4 Rent’s dividend payout ratio is currently 111.11%.

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.