Cannon Global Investment Management LLC Makes New $270,000 Investment in American Homes 4 Rent (NYSE:AMH)

Cannon Global Investment Management LLC purchased a new position in shares of American Homes 4 Rent (NYSE:AMH) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 7,500 shares of the real estate investment trust’s stock, valued at approximately $270,000. American Homes 4 Rent makes up about 2.0% of Cannon Global Investment Management LLC’s holdings, making the stock its 20th biggest position.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of American Homes 4 Rent by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 44,399,483 shares of the real estate investment trust’s stock worth $1,495,819,000 after purchasing an additional 1,011,707 shares during the last quarter. BlackRock Inc. grew its stake in shares of American Homes 4 Rent by 1.4% in the 1st quarter. BlackRock Inc. now owns 23,793,868 shares of the real estate investment trust’s stock worth $748,317,000 after purchasing an additional 325,059 shares during the last quarter. Norges Bank acquired a new position in shares of American Homes 4 Rent in the 4th quarter worth approximately $619,235,000. Principal Financial Group Inc. grew its stake in shares of American Homes 4 Rent by 0.3% in the 3rd quarter. Principal Financial Group Inc. now owns 16,934,168 shares of the real estate investment trust’s stock worth $570,509,000 after purchasing an additional 47,729 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of American Homes 4 Rent by 2.2% in the 1st quarter. JPMorgan Chase & Co. now owns 16,387,078 shares of the real estate investment trust’s stock worth $515,374,000 after purchasing an additional 345,290 shares during the last quarter. 91.87% of the stock is currently owned by institutional investors.

Insider Buying and Selling at American Homes 4 Rent

In other American Homes 4 Rent news, COO Bryan Smith sold 50,000 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $36.77, for a total transaction of $1,838,500.00. Following the transaction, the chief operating officer now directly owns 125,580 shares in the company, valued at approximately $4,617,576.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Matthew J. Hart sold 7,263 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $36.76, for a total value of $266,987.88. Following the completion of the sale, the director now directly owns 41,336 shares of the company’s stock, valued at approximately $1,519,511.36. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Bryan Smith sold 50,000 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $36.77, for a total value of $1,838,500.00. Following the completion of the sale, the chief operating officer now directly owns 125,580 shares of the company’s stock, valued at $4,617,576.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 60,263 shares of company stock worth $2,212,078. Company insiders own 6.32% of the company’s stock.

American Homes 4 Rent Price Performance

NYSE AMH traded up $0.32 on Friday, hitting $35.35. 482,772 shares of the company were exchanged, compared to its average volume of 3,419,884. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.58. American Homes 4 Rent has a 1-year low of $31.36 and a 1-year high of $37.97. The company has a market cap of $12.94 billion, a P/E ratio of 35.05, a P/E/G ratio of 2.66 and a beta of 0.70. The firm has a 50 day moving average of $35.83 and a two-hundred day moving average of $35.36.

American Homes 4 Rent Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a dividend of $0.26 per share. The ex-dividend date was Thursday, March 14th. This is an increase from American Homes 4 Rent’s previous quarterly dividend of $0.22. This represents a $1.04 dividend on an annualized basis and a yield of 2.94%. American Homes 4 Rent’s dividend payout ratio is presently 104.00%.

Wall Street Analysts Forecast Growth

AMH has been the topic of several recent research reports. Mizuho lifted their price objective on shares of American Homes 4 Rent from $37.00 to $39.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. StockNews.com cut shares of American Homes 4 Rent from a “hold” rating to a “sell” rating in a research note on Wednesday, March 20th. Royal Bank of Canada reissued an “outperform” rating and issued a $39.00 target price on shares of American Homes 4 Rent in a research report on Monday, February 26th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of American Homes 4 Rent in a research report on Tuesday, January 30th. They issued a “buy” rating and a $40.00 target price on the stock. Finally, Jefferies Financial Group upgraded shares of American Homes 4 Rent from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $34.00 to $41.00 in a research note on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, American Homes 4 Rent has a consensus rating of “Moderate Buy” and a consensus target price of $39.67.

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.