Principal Financial Group Inc. Sells 799,506 Shares of American Homes 4 Rent (NYSE:AMH)

Principal Financial Group Inc. reduced its holdings in shares of American Homes 4 Rent (NYSE:AMH) by 5.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 14,971,791 shares of the real estate investment trust’s stock after selling 799,506 shares during the period. Principal Financial Group Inc.’s holdings in American Homes 4 Rent were worth $574,766,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Maryland Capital Advisors Inc. bought a new stake in shares of American Homes 4 Rent during the 3rd quarter worth approximately $25,000. UMB Bank n.a. raised its position in shares of American Homes 4 Rent by 331.9% in the 3rd quarter. UMB Bank n.a. now owns 786 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 604 shares in the last quarter. V Square Quantitative Management LLC bought a new position in shares of American Homes 4 Rent in the 2nd quarter worth $32,000. Wetzel Investment Advisors Inc. bought a new position in shares of American Homes 4 Rent in the 2nd quarter worth $44,000. Finally, Catalyst Capital Advisors LLC bought a new position in shares of American Homes 4 Rent in the 3rd quarter worth $53,000. 91.87% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Evercore ISI reduced their target price on American Homes 4 Rent from $42.00 to $41.00 and set an “in-line” rating on the stock in a research report on Wednesday, October 30th. StockNews.com lowered American Homes 4 Rent from a “hold” rating to a “sell” rating in a research report on Thursday, October 24th. Scotiabank reaffirmed an “outperform” rating and set a $42.00 target price on shares of American Homes 4 Rent in a research report on Wednesday, August 21st. Wells Fargo & Company raised American Homes 4 Rent from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $36.00 to $42.00 in a research report on Monday, August 26th. Finally, Keefe, Bruyette & Woods reduced their target price on American Homes 4 Rent from $39.00 to $38.00 and set a “market perform” rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $41.53.

American Homes 4 Rent Stock Up 2.7 %

AMH stock opened at $36.37 on Thursday. American Homes 4 Rent has a one year low of $33.75 and a one year high of $41.41. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.58 and a current ratio of 0.58. The firm’s fifty day moving average is $38.48 and its 200 day moving average is $37.29. The firm has a market cap of $13.33 billion, a PE ratio of 37.89, a P/E/G ratio of 2.90 and a beta of 0.77.

American Homes 4 Rent (NYSE:AMH) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.23). The business had revenue of $445.06 million for 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%. American Homes 4 Rent’s revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the business earned $0.41 earnings per share. On average, research analysts forecast that American Homes 4 Rent will post 1.77 EPS for the current year.

American Homes 4 Rent Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.86%. The ex-dividend date was Friday, September 13th. American Homes 4 Rent’s payout ratio is 108.33%.

About American Homes 4 Rent

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.