Truist Financial Corp Grows Stock Holdings in American Homes 4 Rent (NYSE:AMH)

Truist Financial Corp boosted its stake in American Homes 4 Rent (NYSE:AMH – Get Rating) by 15.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,357 shares of the real estate investment trust’s stock after purchasing an additional 1,916 shares during the period. Truist Financial Corp’s holdings in American Homes 4 Rent were worth $472,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD increased its position in American Homes 4 Rent by 5,494.4% during the second quarter. Price T Rowe Associates Inc. MD now owns 4,876,063 shares of the real estate investment trust’s stock valued at $172,808,000 after acquiring an additional 4,788,904 shares during the last quarter. Centersquare Investment Management LLC increased its position in shares of American Homes 4 Rent by 725.9% during the 1st quarter. Centersquare Investment Management LLC now owns 4,816,638 shares of the real estate investment trust’s stock valued at $192,810,000 after purchasing an additional 4,233,435 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of American Homes 4 Rent by 8.9% in the 1st quarter. Vanguard Group Inc. now owns 43,405,083 shares of the real estate investment trust’s stock worth $1,737,505,000 after purchasing an additional 3,533,157 shares during the period. Deutsche Bank AG grew its position in American Homes 4 Rent by 69.1% during the second quarter. Deutsche Bank AG now owns 5,415,503 shares of the real estate investment trust’s stock valued at $191,925,000 after buying an additional 2,213,330 shares during the period. Finally, State Street Corp increased its holdings in American Homes 4 Rent by 20.1% during the first quarter. State Street Corp now owns 12,861,103 shares of the real estate investment trust’s stock valued at $514,830,000 after buying an additional 2,154,704 shares during the last quarter. 84.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at American Homes 4 Rent

In other American Homes 4 Rent news, Director Douglas N. Benham bought 4,000 shares of American Homes 4 Rent stock in a transaction dated Wednesday, November 23rd. The shares were purchased at an average cost of $22.55 per share, for a total transaction of $90,200.00. Following the acquisition, the director now directly owns 22,070 shares in the company, valued at approximately $497,678.50. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Matthew J. Hart sold 6,955 shares of American Homes 4 Rent stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $31.44, for a total value of $218,665.20. Following the completion of the transaction, the director now owns 34,340 shares in the company, valued at approximately $1,079,649.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Douglas N. Benham purchased 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 23rd. The shares were bought at an average price of $22.55 per share, for a total transaction of $90,200.00. Following the acquisition, the director now directly owns 22,070 shares in the company, valued at approximately $497,678.50. The disclosure for this purchase can be found here. 6.03% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AMH. Raymond James cut shares of American Homes 4 Rent from a “strong-buy” rating to an “outperform” rating in a research note on Tuesday, November 29th. Mizuho cut their price target on American Homes 4 Rent from $37.00 to $36.00 in a report on Friday, December 2nd. JMP Securities reaffirmed a “buy” rating and issued a $42.00 price objective (down previously from $47.00) on shares of American Homes 4 Rent in a research note on Tuesday, November 29th. The Goldman Sachs Group upgraded American Homes 4 Rent from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $36.00 to $39.00 in a research note on Thursday, December 8th. Finally, Royal Bank of Canada decreased their target price on shares of American Homes 4 Rent from $40.00 to $37.00 and set an “outperform” rating on the stock in a research note on Monday, November 7th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, American Homes 4 Rent presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.56.

American Homes 4 Rent Stock Performance

NYSE:AMH opened at $32.61 on Tuesday. The company has a market cap of $11.53 billion, a price-to-earnings ratio of 54.35, a PEG ratio of 2.66 and a beta of 0.60. American Homes 4 Rent has a 1 year low of $29.31 and a 1 year high of $43.89. The stock’s 50 day simple moving average is $31.62 and its two-hundred day simple moving average is $33.58. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.54 and a quick ratio of 0.54.

American Homes 4 Rent Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Thursday, December 15th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend was Wednesday, December 14th. American Homes 4 Rent’s payout ratio is 120.00%.

About American Homes 4 Rent

(Get Rating)

American Homes 4 Rent operates as a real estate investment trust. It engages in the acquisition, renovation, leasing, and operating of single-family homes as rental properties. The company was founded by Bradley Wayne Hughes, Sr. on October 19, 2012 and is headquartered in Las Vegas, NV.