State of Michigan Retirement System Makes New $2.87 Million Investment in American Homes 4 Rent (NYSE:AMH)

State of Michigan Retirement System bought a new position in American Homes 4 Rent (NYSE:AMH) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 78,100 shares of the real estate investment trust’s stock, valued at approximately $2,873,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Gilman Hill Asset Management LLC boosted its stake in shares of American Homes 4 Rent by 35.5% during the first quarter. Gilman Hill Asset Management LLC now owns 17,506 shares of the real estate investment trust’s stock valued at $644,000 after purchasing an additional 4,585 shares during the period. Park Avenue Securities LLC boosted its stake in shares of American Homes 4 Rent by 11.3% during the first quarter. Park Avenue Securities LLC now owns 10,314 shares of the real estate investment trust’s stock valued at $379,000 after purchasing an additional 1,051 shares during the period. Pensionfund Sabic boosted its stake in shares of American Homes 4 Rent by 40.0% during the first quarter. Pensionfund Sabic now owns 24,500 shares of the real estate investment trust’s stock valued at $901,000 after purchasing an additional 7,000 shares during the period. GAMMA Investing LLC boosted its stake in shares of American Homes 4 Rent by 24.1% during the first quarter. GAMMA Investing LLC now owns 1,557 shares of the real estate investment trust’s stock valued at $57,000 after purchasing an additional 302 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of American Homes 4 Rent during the first quarter valued at approximately $5,711,000. Hedge funds and other institutional investors own 91.87% of the company’s stock.

Insider Activity

In related news, Director Jack E. Corrigan purchased 10,000 shares of American Homes 4 Rent stock in a transaction dated Monday, May 6th. The stock was purchased at an average cost of $22.78 per share, for a total transaction of $227,800.00. Following the completion of the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at $227,800. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Douglas N. Benham purchased 3,500 shares of American Homes 4 Rent stock in a transaction dated Wednesday, May 8th. The stock was purchased at an average cost of $23.00 per share, for a total transaction of $80,500.00. Following the completion of the acquisition, the director now directly owns 37,997 shares of the company’s stock, valued at $873,931. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jack E. Corrigan purchased 10,000 shares of American Homes 4 Rent stock in a transaction dated Monday, May 6th. The shares were bought at an average price of $22.78 per share, with a total value of $227,800.00. Following the completion of the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at $227,800. The disclosure for this purchase can be found here. Corporate insiders own 6.05% of the company’s stock.

American Homes 4 Rent Price Performance

AMH opened at $37.31 on Thursday. The stock has a fifty day simple moving average of $36.17 and a two-hundred day simple moving average of $35.88. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.58. The company has a market cap of $13.67 billion, a price-to-earnings ratio of 38.07, a price-to-earnings-growth ratio of 3.13 and a beta of 0.74. American Homes 4 Rent has a 12-month low of $31.36 and a 12-month high of $37.97.

American Homes 4 Rent (NYSE:AMH) last posted its quarterly earnings data on Friday, May 10th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.13). The firm had revenue of $423.56 million during the quarter, compared to the consensus estimate of $421.28 million. American Homes 4 Rent had a return on equity of 5.00% and a net margin of 22.55%. American Homes 4 Rent’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.41 EPS. Research analysts predict that American Homes 4 Rent will post 1.74 earnings per share for the current fiscal year.

American Homes 4 Rent Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a $0.26 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.04 dividend on an annualized basis and a yield of 2.79%. American Homes 4 Rent’s dividend payout ratio (DPR) is 106.12%.

Analyst Ratings Changes

A number of research firms have recently weighed in on AMH. Keefe, Bruyette & Woods increased their price objective on American Homes 4 Rent from $38.00 to $39.00 and gave the company a “market perform” rating in a research note on Monday, May 13th. Citigroup upgraded American Homes 4 Rent from a “neutral” rating to a “buy” rating and upped their target price for the company from $37.00 to $41.00 in a report on Friday, March 22nd. StockNews.com downgraded American Homes 4 Rent from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. Scotiabank upped their target price on American Homes 4 Rent from $39.00 to $41.00 and gave the company a “sector outperform” rating in a report on Thursday, May 16th. Finally, Barclays decreased their target price on American Homes 4 Rent from $43.00 to $42.00 and set an “overweight” rating for the company in a report on Wednesday, May 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $39.53.

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.