OVERSEA CHINESE BANKING Corp Ltd Trims Stock Holdings in American Homes 4 Rent (NYSE:AMH)

OVERSEA CHINESE BANKING Corp Ltd reduced its position in American Homes 4 Rent (NYSE:AMH) by 38.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 84,764 shares of the real estate investment trust’s stock after selling 52,609 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in American Homes 4 Rent were worth $3,254,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in American Homes 4 Rent during the 1st quarter worth $524,000. SG Americas Securities LLC grew its holdings in shares of American Homes 4 Rent by 17.5% during the first quarter. SG Americas Securities LLC now owns 47,738 shares of the real estate investment trust’s stock worth $1,756,000 after buying an additional 7,106 shares during the last quarter. ProShare Advisors LLC acquired a new position in American Homes 4 Rent in the 1st quarter valued at about $571,000. State Board of Administration of Florida Retirement System increased its position in American Homes 4 Rent by 2.7% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 290,334 shares of the real estate investment trust’s stock valued at $10,678,000 after acquiring an additional 7,572 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in American Homes 4 Rent by 8.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 371,928 shares of the real estate investment trust’s stock valued at $13,680,000 after acquiring an additional 29,727 shares during the last quarter. 91.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on AMH shares. StockNews.com downgraded American Homes 4 Rent from a “hold” rating to a “sell” rating in a research note on Thursday, October 24th. Evercore ISI upgraded shares of American Homes 4 Rent from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $41.00 to $42.00 in a research report on Monday. JPMorgan Chase & Co. upped their price objective on shares of American Homes 4 Rent from $38.00 to $43.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. The Goldman Sachs Group started coverage on shares of American Homes 4 Rent in a report on Wednesday, September 4th. They issued a “buy” rating and a $48.00 target price on the stock. Finally, Royal Bank of Canada boosted their price target on shares of American Homes 4 Rent from $41.00 to $42.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, American Homes 4 Rent has a consensus rating of “Moderate Buy” and an average price target of $41.60.

American Homes 4 Rent Stock Performance

NYSE AMH opened at $37.34 on Wednesday. The business has a 50 day moving average price of $38.28 and a 200 day moving average price of $37.34. The company has a market capitalization of $13.80 billion, a P/E ratio of 38.90, a PEG ratio of 3.06 and a beta of 0.77. American Homes 4 Rent has a 1-year low of $33.75 and a 1-year high of $41.41. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.58 and a quick ratio of 0.58.

American Homes 4 Rent (NYSE:AMH) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.23). The firm had revenue of $445.06 million during the quarter, compared to analyst estimates of $443.81 million. American Homes 4 Rent had a net margin of 21.51% and a return on equity of 4.76%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period last year, the company posted $0.41 EPS. Sell-side analysts expect that American Homes 4 Rent will post 1.77 EPS for the current fiscal year.

American Homes 4 Rent Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Friday, December 13th. American Homes 4 Rent’s payout ratio is currently 108.33%.

American Homes 4 Rent Profile

AMH (NYSE: AMH) is a leading large-scale integrated owner, operator and developer of single-family rental homes. We're an internally managed Maryland real estate investment trust (REIT) focused on acquiring, developing, renovating, leasing and managing homes as rental properties. Our goal is to simplify the experience of leasing a home and deliver peace of mind to households across the country.