Cannon Global Investment Management LLC Purchases Shares of 7,500 American Homes 4 Rent (NYSE:AMH)

Cannon Global Investment Management LLC purchased a new stake in American Homes 4 Rent (NYSE:AMH) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,500 shares of the real estate investment trust’s stock, valued at approximately $270,000. American Homes 4 Rent comprises approximately 2.0% of Cannon Global Investment Management LLC’s investment portfolio, making the stock its 20th biggest position.

Several other hedge funds also recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC boosted its holdings in American Homes 4 Rent by 4.0% in the second quarter. Commonwealth Equity Services LLC now owns 7,685 shares of the real estate investment trust’s stock valued at $272,000 after purchasing an additional 293 shares during the last quarter. Penserra Capital Management LLC raised its holdings in American Homes 4 Rent by 2.0% in the 3rd quarter. Penserra Capital Management LLC now owns 15,746 shares of the real estate investment trust’s stock valued at $529,000 after acquiring an additional 309 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in American Homes 4 Rent by 1.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 19,915 shares of the real estate investment trust’s stock valued at $706,000 after acquiring an additional 320 shares during the last quarter. Benjamin Edwards Inc. raised its holdings in American Homes 4 Rent by 2.6% in the 2nd quarter. Benjamin Edwards Inc. now owns 12,679 shares of the real estate investment trust’s stock valued at $449,000 after acquiring an additional 326 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. raised its holdings in American Homes 4 Rent by 3.2% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 12,676 shares of the real estate investment trust’s stock valued at $456,000 after acquiring an additional 391 shares during the last quarter. 91.87% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at American Homes 4 Rent

In related news, COO Bryan Smith sold 50,000 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $36.77, for a total value of $1,838,500.00. Following the completion of the sale, the chief operating officer now directly owns 125,580 shares of the company’s stock, valued at $4,617,576.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, COO Bryan Smith sold 50,000 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $36.77, for a total value of $1,838,500.00. Following the completion of the sale, the chief operating officer now directly owns 125,580 shares of the company’s stock, valued at $4,617,576.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Brian Reitz sold 3,000 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $35.53, for a total transaction of $106,590.00. Following the completion of the sale, the chief accounting officer now directly owns 35,343 shares of the company’s stock, valued at $1,255,736.79. The disclosure for this sale can be found here. In the last three months, insiders sold 60,263 shares of company stock valued at $2,212,078. Insiders own 6.32% of the company’s stock.

American Homes 4 Rent Stock Up 0.9 %

Shares of American Homes 4 Rent stock traded up $0.32 during trading on Friday, hitting $35.35. 482,772 shares of the stock were exchanged, compared to its average volume of 3,419,884. The stock has a market cap of $12.94 billion, a price-to-earnings ratio of 35.05, a price-to-earnings-growth ratio of 2.66 and a beta of 0.70. The firm’s 50-day moving average price is $35.83 and its 200 day moving average price is $35.36. American Homes 4 Rent has a 12-month low of $31.36 and a 12-month high of $37.97. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.46 and a quick ratio of 0.46.

American Homes 4 Rent Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a dividend of $0.26 per share. This is a boost from American Homes 4 Rent’s previous quarterly dividend of $0.22. This represents a $1.04 annualized dividend and a dividend yield of 2.94%. The ex-dividend date was Thursday, March 14th. American Homes 4 Rent’s payout ratio is 104.00%.

Analysts Set New Price Targets

Several analysts have recently commented on AMH shares. Mizuho lifted their price target on shares of American Homes 4 Rent from $37.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Citigroup raised shares of American Homes 4 Rent from a “neutral” rating to a “buy” rating and lifted their price target for the company from $37.00 to $41.00 in a research report on Friday, March 22nd. Raymond James lifted their price target on shares of American Homes 4 Rent from $40.00 to $41.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. BNP Paribas began coverage on shares of American Homes 4 Rent in a research report on Monday, January 22nd. They set an “outperform” rating and a $42.00 price target on the stock. Finally, Jefferies Financial Group upgraded shares of American Homes 4 Rent from a “hold” rating to a “buy” rating and lifted their target price for the company from $34.00 to $41.00 in a report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $39.67.

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.