Oppenheimer Asset Management Inc. Reduces Stock Position in American Homes 4 Rent (NYSE:AMH)

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Oppenheimer Asset Management Inc. lowered its stake in shares of American Homes 4 Rent (NYSE:AMH) by 34.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 29,287 shares of the real estate investment trust’s stock after selling 15,433 shares during the period. Oppenheimer Asset Management Inc.’s holdings in American Homes 4 Rent were worth $758,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of AMH. Invesco Ltd. lifted its position in shares of American Homes 4 Rent by 177.2% during the second quarter. Invesco Ltd. now owns 6,983,625 shares of the real estate investment trust’s stock worth $169,773,000 after acquiring an additional 4,464,448 shares in the last quarter. Nuveen Asset Management LLC lifted its position in shares of American Homes 4 Rent by 273.1% during the second quarter. Nuveen Asset Management LLC now owns 5,976,811 shares of the real estate investment trust’s stock worth $145,297,000 after acquiring an additional 4,374,907 shares in the last quarter. Cohen & Steers Inc. lifted its position in shares of American Homes 4 Rent by 34.0% during the second quarter. Cohen & Steers Inc. now owns 16,332,187 shares of the real estate investment trust’s stock worth $397,035,000 after acquiring an additional 4,145,419 shares in the last quarter. Zimmer Partners LP lifted its position in shares of American Homes 4 Rent by 86.4% during the second quarter. Zimmer Partners LP now owns 3,728,541 shares of the real estate investment trust’s stock worth $90,641,000 after acquiring an additional 1,728,541 shares in the last quarter. Finally, Commonwealth Bank of Australia purchased a new stake in shares of American Homes 4 Rent during the second quarter worth $37,647,000. Hedge funds and other institutional investors own 87.33% of the company’s stock.

Several research analysts have recently weighed in on AMH shares. Goldman Sachs Group started coverage on shares of American Homes 4 Rent in a report on Friday. They issued a “buy” rating and a $29.00 price target on the stock. BTIG Research cut shares of American Homes 4 Rent from a “buy” rating to a “neutral” rating in a report on Thursday, August 1st. They noted that the move was a valuation call. Zacks Investment Research cut shares of American Homes 4 Rent from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. B. Riley set a $28.00 price target on shares of American Homes 4 Rent and gave the stock a “buy” rating in a report on Friday, August 16th. Finally, Morgan Stanley upped their price target on shares of American Homes 4 Rent from $27.50 to $29.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 9th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $26.88.

American Homes 4 Rent stock opened at $25.71 on Friday. The stock has a market cap of $7.73 billion, a P/E ratio of 24.25, a PEG ratio of 2.16 and a beta of 0.60. American Homes 4 Rent has a fifty-two week low of $18.91 and a fifty-two week high of $26.67. The firm’s fifty day moving average price is $25.95 and its 200-day moving average price is $24.99. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.05 and a current ratio of 1.05.

American Homes 4 Rent (NYSE:AMH) last released its quarterly earnings results on Thursday, November 7th. The real estate investment trust reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.19). The firm had revenue of $298.30 million during the quarter, compared to the consensus estimate of $290.51 million. American Homes 4 Rent had a return on equity of 1.86% and a net margin of 10.02%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.27 EPS. Sell-side analysts predict that American Homes 4 Rent will post 1.11 earnings per share for the current year.

In related news, COO Jack E. Corrigan sold 100,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $25.70, for a total value of $2,570,000.00. Following the transaction, the chief operating officer now owns 100 shares of the company’s stock, valued at $2,570. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Jack E. Corrigan sold 20,000 shares of the stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $25.55, for a total value of $511,000.00. Following the completion of the transaction, the chief operating officer now directly owns 100 shares in the company, valued at approximately $2,555. The disclosure for this sale can be found here. In the last ninety days, insiders sold 275,000 shares of company stock worth $7,060,600. Insiders own 27.58% of the company’s stock.

American Homes 4 Rent Company Profile

American Homes 4 Rent (NYSE: AMH) is a leader in the single-family home rental industry and "American Homes 4 Rent" is fast becoming a nationally recognized brand for rental homes, known for high quality, good value and tenant satisfaction. We are an internally managed Maryland real estate investment trust, or REIT, focused on acquiring, renovating, leasing, and operating attractive, single-family homes as rental properties.

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Want to see what other hedge funds are holding AMH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Homes 4 Rent (NYSE:AMH).

Institutional Ownership by Quarter for American Homes 4 Rent (NYSE:AMH)

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