Bank of Nova Scotia Invests $239,000 in American Homes 4 Rent (NYSE:AMH)

Bank of Nova Scotia purchased a new position in American Homes 4 Rent (NYSE:AMHGet Rating) during the second quarter, Holdings Channel.com reports. The institutional investor purchased 6,745 shares of the real estate investment trust’s stock, valued at approximately $239,000.

A number of other institutional investors have also recently made changes to their positions in AMH. Banque Pictet & Cie SA acquired a new position in American Homes 4 Rent during the second quarter worth $225,000. M&T Bank Corp boosted its stake in American Homes 4 Rent by 16.4% during the second quarter. M&T Bank Corp now owns 35,991 shares of the real estate investment trust’s stock worth $1,245,000 after buying an additional 5,063 shares during the last quarter. Illinois Municipal Retirement Fund boosted its stake in American Homes 4 Rent by 60.1% during the second quarter. Illinois Municipal Retirement Fund now owns 38,323 shares of the real estate investment trust’s stock worth $1,358,000 after buying an additional 14,384 shares during the last quarter. abrdn plc raised its position in American Homes 4 Rent by 1.8% in the second quarter. abrdn plc now owns 254,583 shares of the real estate investment trust’s stock valued at $9,024,000 after purchasing an additional 4,520 shares during the period. Finally, Securian Asset Management Inc. raised its position in American Homes 4 Rent by 14.7% in the second quarter. Securian Asset Management Inc. now owns 394,600 shares of the real estate investment trust’s stock valued at $13,985,000 after purchasing an additional 50,541 shares during the period. 88.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AMH has been the topic of a number of research analyst reports. Morgan Stanley lifted their target price on American Homes 4 Rent from $37.50 to $39.00 and gave the company an “equal weight” rating in a research report on Thursday, August 25th. The Goldman Sachs Group reduced their target price on American Homes 4 Rent from $42.00 to $35.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 18th. Evercore ISI reduced their target price on American Homes 4 Rent to $36.00 in a research report on Thursday, October 13th. Royal Bank of Canada cut their price objective on American Homes 4 Rent from $40.00 to $37.00 and set an “outperform” rating on the stock in a report on Monday, November 7th. Finally, Barclays cut their price objective on American Homes 4 Rent from $44.00 to $41.00 and set an “overweight” rating on the stock in a report on Thursday, October 6th. One analyst has rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $39.60.

American Homes 4 Rent Price Performance

Shares of NYSE AMH opened at $32.00 on Monday. The stock’s 50-day moving average is $32.57 and its two-hundred day moving average is $35.00. 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 has a 1-year low of $29.31 and a 1-year high of $44.07. The company has a market cap of $11.31 billion, a price-to-earnings ratio of 53.33, a price-to-earnings-growth ratio of 2.68 and a beta of 0.58.

American Homes 4 Rent Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Thursday, December 15th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, December 14th. This represents a $0.72 annualized dividend and a dividend yield of 2.25%. American Homes 4 Rent’s dividend payout ratio is currently 120.00%.

Insider Transactions at American Homes 4 Rent

In other American Homes 4 Rent news, Director Tamara Hughes Gustavson acquired 281,695 shares of the stock in a transaction dated Wednesday, September 7th. The stock was acquired at an average cost of $36.40 per share, with a total value of $10,253,698.00. Following the transaction, the director now owns 269,470 shares in the company, valued at approximately $9,808,708. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other American Homes 4 Rent news, Director Tamara Hughes Gustavson acquired 281,695 shares of the stock in a transaction dated Wednesday, September 7th. The stock was acquired at an average cost of $36.40 per share, with a total value of $10,253,698.00. Following the transaction, the director now owns 269,470 shares in the company, valued at approximately $9,808,708. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Bryan Smith sold 5,519 shares of the company’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $35.67, for a total value of $196,862.73. Following the completion of the sale, the chief operating officer now directly owns 81,287 shares of the company’s stock, valued at $2,899,507.29. The disclosure for this sale can be found here. Insiders own 6.03% of the company’s stock.

About American Homes 4 Rent

(Get Rating)

American Homes 4 Rent (NYSE: AMH) is a leader in the single-family home rental industry and "American Homes 4 Rent" is fast becoming a nationally recognized brand for rental homes, known for high-quality, good value and tenant satisfaction. We are an internally managed Maryland real estate investment trust, or REIT, focused on acquiring, developing, renovating, leasing, and operating attractive, single-family homes as rental properties.

Featured Stories

Want to see what other hedge funds are holding AMH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Homes 4 Rent (NYSE:AMHGet Rating).

Institutional Ownership by Quarter for American Homes 4 Rent (NYSE:AMH)

Receive News & Ratings for American Homes 4 Rent Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Homes 4 Rent and related companies with MarketBeat.com's FREE daily email newsletter.