Principal Financial Group Inc. Lowers Position in American Homes 4 Rent (NYSE:AMH)

Principal Financial Group Inc. cut its position in shares of American Homes 4 Rent (NYSE:AMH) by 1.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,680,186 shares of the real estate investment trust’s stock after selling 306,956 shares during the period. Principal Financial Group Inc. owned 4.24% of American Homes 4 Rent worth $592,868,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Proficio Capital Partners LLC acquired a new stake in American Homes 4 Rent in the 4th quarter valued at $775,000. Jones Financial Companies Lllp increased its position in shares of American Homes 4 Rent by 56.6% during the fourth quarter. Jones Financial Companies Lllp now owns 1,084 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 392 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its stake in American Homes 4 Rent by 14.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,493 shares of the real estate investment trust’s stock worth $131,000 after purchasing an additional 438 shares during the last quarter. State of Michigan Retirement System lifted its stake in shares of American Homes 4 Rent by 0.5% in the fourth quarter. State of Michigan Retirement System now owns 75,100 shares of the real estate investment trust’s stock worth $2,810,000 after buying an additional 400 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in American Homes 4 Rent by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,334,035 shares of the real estate investment trust’s stock valued at $162,180,000 after acquiring an additional 110,022 shares in the last quarter. Institutional investors and hedge funds own 91.87% of the company’s stock.

Insider Activity at American Homes 4 Rent

In related news, Director Jack E. Corrigan purchased 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 12th. The stock was purchased at an average cost of $22.93 per share, with a total value of $91,720.00. Following the completion of the acquisition, the director directly owned 15,000 shares in the company, valued at $343,950. This trade represents a 36.36% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Sara H. Vogt-Lowell sold 42,500 shares of American Homes 4 Rent stock in a transaction on Monday, May 5th. The shares were sold at an average price of $39.01, for a total transaction of $1,657,925.00. Following the completion of the transaction, the chief accounting officer owned 99,214 shares in the company, valued at approximately $3,870,338.14. This trade 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 owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Scotiabank increased their price target on 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. Citigroup lowered shares of American Homes 4 Rent from a “buy” rating to a “neutral” rating and set a $41.00 target price on the stock. in a report on Friday, June 6th. Wall Street Zen upgraded American Homes 4 Rent from a “sell” rating to a “hold” rating in a research report on Tuesday, May 6th. Morgan Stanley upped their price target on American Homes 4 Rent from $39.00 to $40.50 and gave the company an “overweight” rating in a research note on Thursday, May 22nd. Finally, Royal Bank Of Canada increased their target price on shares of American Homes 4 Rent from $39.00 to $41.00 and gave the stock an “outperform” rating in a research note on Monday, May 5th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, American Homes 4 Rent presently has an average rating of “Moderate Buy” and an average target price of $40.90.

American Homes 4 Rent Price Performance

AMH stock opened at $35.43 on Thursday. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $13.12 billion, a P/E ratio of 32.81, a PEG ratio of 3.72 and a beta of 0.74. The business has a 50 day simple moving average of $37.28 and a 200-day simple moving average of $36.37. American Homes 4 Rent has a twelve month low of $31.68 and a twelve month high of $41.41.

American Homes 4 Rent (NYSE:AMH) last issued its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.01. The company had revenue of $459.28 million for the quarter, compared to the consensus estimate of $449.00 million. American Homes 4 Rent had a net margin of 23.41% and a return on equity of 5.45%. American Homes 4 Rent’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period last year, the firm posted $0.43 EPS. As a group, equities analysts anticipate that American Homes 4 Rent will post 1.85 EPS for the current year.

American Homes 4 Rent Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.39%. The ex-dividend date was Friday, June 13th. American Homes 4 Rent’s dividend payout ratio (DPR) is presently 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.