Lord Abbett & CO. LLC Sells 713,040 Shares of American Homes 4 Rent (NYSE:AMH)

Lord Abbett & CO. LLC cut its stake in shares of American Homes 4 Rent (NYSE:AMH) by 42.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 979,004 shares of the real estate investment trust’s stock after selling 713,040 shares during the period. Lord Abbett & CO. LLC owned 0.26% of American Homes 4 Rent worth $37,584,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. V Square Quantitative Management LLC increased its position in shares of American Homes 4 Rent by 31.6% during the 3rd quarter. V Square Quantitative Management LLC now owns 1,144 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 275 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in American Homes 4 Rent by 24.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,588 shares of the real estate investment trust’s stock worth $59,000 after buying an additional 310 shares during the period. Creative Planning increased its position in American Homes 4 Rent by 2.4% during the third quarter. Creative Planning now owns 14,181 shares of the real estate investment trust’s stock valued at $544,000 after acquiring an additional 330 shares during the last quarter. US Bancorp DE raised its stake in shares of American Homes 4 Rent by 3.3% in the third quarter. US Bancorp DE now owns 14,896 shares of the real estate investment trust’s stock valued at $572,000 after acquiring an additional 478 shares during the period. Finally, Advisors Asset Management Inc. lifted its holdings in shares of American Homes 4 Rent by 19.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 3,589 shares of the real estate investment trust’s stock worth $138,000 after acquiring an additional 596 shares during the last quarter. 91.87% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AMH has been the topic of several analyst reports. The Goldman Sachs Group assumed coverage on shares of American Homes 4 Rent in a report on Wednesday, September 4th. They set a “buy” rating and a $48.00 price target on the stock. Scotiabank reiterated an “outperform” rating and issued a $42.00 price target on shares of American Homes 4 Rent in a report on Wednesday, August 21st. Wells Fargo & Company upgraded American Homes 4 Rent from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $36.00 to $42.00 in a report on Monday, August 26th. JPMorgan Chase & Co. increased their target price on American Homes 4 Rent from $38.00 to $43.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Finally, StockNews.com lowered shares of American Homes 4 Rent from a “hold” rating to a “sell” rating in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $41.56.

Insider Buying and Selling at American Homes 4 Rent

In other news, COO Bryan Smith sold 40,000 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $37.80, for a total transaction of $1,512,000.00. Following the transaction, the chief operating officer now directly owns 125,580 shares of the company’s stock, valued at approximately $4,746,924. This represents a 24.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Douglas N. Benham acquired 3,286 shares of the stock in a transaction dated Thursday, December 5th. The stock was acquired at an average cost of $24.49 per share, with a total value of $80,474.14. Following the transaction, the director now directly owns 41,946 shares in the company, valued at approximately $1,027,257.54. This represents a 8.50 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 6.32% of the stock is owned by insiders.

American Homes 4 Rent Trading Down 0.9 %

NYSE:AMH opened at $37.37 on Friday. The firm has a 50-day simple moving average of $37.52 and a 200-day simple moving average of $37.58. American Homes 4 Rent has a one year low of $33.75 and a one year high of $41.41. The firm has a market cap of $13.81 billion, a P/E ratio of 38.93, a P/E/G ratio of 3.33 and a beta of 0.78. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.58 and a current ratio of 0.58.

American Homes 4 Rent (NYSE:AMH) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $443.81 million. American Homes 4 Rent had a return on equity of 4.76% and a net margin of 21.51%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period last year, the firm earned $0.41 EPS. Equities analysts anticipate that American Homes 4 Rent will post 1.77 EPS for the current fiscal year.

American Homes 4 Rent Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors 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 2.78%. The ex-dividend date of this dividend is Friday, December 13th. American Homes 4 Rent’s payout ratio is currently 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.