Makena Capital Management LLC Sells 6,606 Shares of American Homes 4 Rent (NYSE:AMH)

Makena Capital Management LLC lowered its position in shares of American Homes 4 Rent (NYSE:AMH) by 2.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 245,381 shares of the real estate investment trust’s stock after selling 6,606 shares during the quarter. American Homes 4 Rent accounts for about 2.3% of Makena Capital Management LLC’s investment portfolio, making the stock its 24th largest position. Makena Capital Management LLC’s holdings in American Homes 4 Rent were worth $9,420,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of AMH. Covestor Ltd lifted its stake in shares of American Homes 4 Rent by 187.3% during the 1st quarter. Covestor Ltd now owns 2,603 shares of the real estate investment trust’s stock valued at $96,000 after buying an additional 1,697 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its position in shares of American Homes 4 Rent by 40.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 599,777 shares of the real estate investment trust’s stock valued at $22,056,000 after acquiring an additional 173,015 shares in the last quarter. Shell Asset Management Co. bought a new position in shares of American Homes 4 Rent in the first quarter worth about $375,000. Vident Advisory LLC raised its stake in American Homes 4 Rent by 12.5% during the 1st quarter. Vident Advisory LLC now owns 110,839 shares of the real estate investment trust’s stock valued at $4,077,000 after purchasing an additional 12,288 shares during the period. Finally, Advisors Asset Management Inc. lifted its holdings in American Homes 4 Rent by 12.5% in the 1st quarter. Advisors Asset Management Inc. now owns 2,816 shares of the real estate investment trust’s stock worth $104,000 after purchasing an additional 314 shares in the last quarter. 91.87% of the stock is currently owned by institutional investors.

American Homes 4 Rent Price Performance

AMH stock opened at $37.56 on Thursday. The stock has a market cap of $13.88 billion, a PE ratio of 39.12, a P/E/G ratio of 3.24 and a beta of 0.77. American Homes 4 Rent has a 12 month low of $33.75 and a 12 month high of $41.41. The company has a 50-day moving average price of $38.04 and a 200 day moving average price of $37.40. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.59.

American Homes 4 Rent (NYSE:AMH) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.23). American Homes 4 Rent had a net margin of 21.51% and a return on equity of 4.76%. The business had revenue of $445.06 million for the quarter, compared to analysts’ expectations of $443.81 million. During the same quarter last year, the firm earned $0.41 EPS. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. Equities research analysts anticipate that American Homes 4 Rent will post 1.77 earnings per share for the current year.

American Homes 4 Rent Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a dividend of $0.26 per share. The ex-dividend date is Friday, December 13th. This represents a $1.04 annualized dividend and a dividend yield of 2.77%. American Homes 4 Rent’s dividend payout ratio (DPR) is 108.33%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AMH. Royal Bank of Canada increased their price objective on shares of American Homes 4 Rent from $41.00 to $42.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Keefe, Bruyette & Woods cut their target price on shares of American Homes 4 Rent from $39.00 to $38.00 and set a “market perform” rating for the company in a research note on Wednesday, November 6th. UBS Group boosted their price target on shares of American Homes 4 Rent from $37.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. Scotiabank restated an “outperform” rating and set a $42.00 price objective on shares of American Homes 4 Rent in a research report on Wednesday, August 21st. Finally, StockNews.com lowered American Homes 4 Rent from a “hold” rating to a “sell” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $41.60.

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.