The Vanguard Group, Inc. recently announced the acquisition of new stake in American Homes 4 Rent (NYSE:AMH). The institutional investor has increased its shareholding in the Real Estate company by 2.37% to 43.68 million shares with purchase of 1.01 million shares. This fresh investment now brings its stake to 12.09% valued currently at $1.43 billion. In addition, BlackRock Fund Advisors raised its holdings by 0.19 million to 19.06 million shares. And Principal Global Investors LLC has lifted its position by 0.28% or 47729.0 shares – to 16.93 million shares.
With over 4.06 million American Homes 4 Rent (AMH) shares trading Tuesday and a closing price of $35.45 on the day, the dollar volume was approximately $144.0 million. The shares have shown a positive half year performance of 1.03% and its price on 12/05/23 lost nearly -1.23%. Currently, there are 352.88M common shares owned by the public and among those 332.91M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 21 analysts who have offered their price forecasts for AMH have a consensus price objective of $37.81. The analysts have set the share’s price value over the next 12 months at a high of $43.00 and a low of $34.00. The average price target is 6.12% above its recent price level and a downside to the estimated low will see the stock lose -4.26% over that period. But an upside of 17.56% will see the stock hit the forecast high price target while median target price for the stock is $37.50.
Insiders at the company have transacted a total of 61 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 24 of these insider trades were purchases, accounting for 298,183 shares. Insider sales of the common stock occurred on 37 occasions, with total insider shares sold totaling 287,868 shares.
The top 3 mutual fund holders in American Homes 4 Rent are Government Pension Fund – Global, Vanguard Real Estate Index Fund, and Vanguard Total Stock Market ETF. Government Pension Fund – Global owns 20.55 million shares of the company’s stock, all valued at over $672.65 million. The company bought an additional 4.47 million shares recently to bring their total holdings to about 5.69% of the shares outstanding. Vanguard Real Estate Index Fund sold 98836.0 shares to see its total holdings shrink to 13.4 million shares valued at over $438.71 million and representing 3.71% of the shares outstanding. Vanguard Total Stock Market ETF bought 13151.0 shares to bring its total holdings to over 9.62 million shares at a value of $314.92 million. Vanguard Total Stock Market ETF now owns shares totaling to 2.66% of the shares outstanding.
Shares of American Homes 4 Rent (NYSE: AMH) opened at $35.62, down -$0.27 from a prior closing price of $35.89. However, the script later moved the day high at 35.75, down -1.23%. The company’s stock has a 5-day price change of -1.64% and 0.11% over the past three months. AMH shares are trading 17.62% year to date (YTD), with the 12-month market performance up to 7.62% higher. It has a 12-month low price of $28.78 and touched a high of $37.97 over the same period. AMH has an average intraday trading volume of 2.27 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -0.86%, 2.65%, and 3.63% respectively.
Institutional ownership of American Homes 4 Rent (NYSE: AMH) shares accounts for 95.09% of the company’s 352.88M shares outstanding. Mutual fund holders own 42.11%, while other institutional holders and individual stakeholders account for 53.54% and 25.60% respectively.
It has a market capitalization of $12.84B and a beta (3y monthly) value of 0.74. The stock’s trailing 12-month PE ratio is 33.94, while the earnings-per-share (ttm) stands at $1.04. The company has a PEG of 1.19 and the debt-to-equity ratio at 0.64. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.24% over the week and 1.76% over the month.
Analysts forecast that American Homes 4 Rent (AMH) will achieve an EPS of $0.13 for the current quarter, $0.16 for the next quarter and $0.6 for 2024. The lowest estimate earnings-per-share for the quarter is $0.11 while analysts give the company a high EPS estimate of $0.18. Comparatively, EPS for the current quarter was $0.25 a year ago. Earnings per share for the fiscal year are expected to increase by 25.20%, and -33.78% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 21 brokerage firm advisors rate American Homes 4 Rent (AMH) as a “Moderate Buy” at a consensus score of 2.24. Specifically, 7 Wall Street analysts polled rate the stock as a buy, while 12 of the 21 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the AMH, a number of firms have released research notes about the stock. UBS stated their Neutral rating for the stock in a research note on September 29, 2023, with the firm’s price target at $35.
