The Manufacturers Life Insurance Company has reduced its stake in American Homes 4 Rent (NYSE:AMH) by 6.2% during the fourth quarter, according to its latest 13F filing with the SEC. The institutional investor now holds 262,538 shares of the real estate investment trust’s stock, valued at $9,824,000, representing 0.07% of the company’s shares.
Other institutional investors have also adjusted their positions in AMH. Tidal Investments LLC increased its holdings by 39.4% in the third quarter, now owning 16,457 shares worth $632,000. JPMorgan Chase & Co. boosted its stake by 1.7% in the third quarter, holding 13,115,483 shares valued at $503,503,000. GAMMA Investing LLC raised its position by 14.0% during the fourth quarter, owning 4,091 shares worth $153,000. Everence Capital Management Inc. and Merit Financial Group LLC established new stakes in American Homes 4 Rent during the fourth quarter, worth approximately $323,000 and $206,000, respectively.
Institutional investors and hedge funds collectively own 91.87% of American Homes 4 Rent’s stock. Several analyst firms have issued reports on AMH, with ratings ranging from ‘sell’ to ‘buy’. Raymond James lowered its price target from $44.00 to $39.00 while maintaining an ‘outperform’ rating. The stock currently has a consensus rating of ‘Hold’ with an average price target of $40.21.
American Homes 4 Rent’s stock performance has shown a 50-day moving average price of $36.40 and a 200-day moving average price of $36.43. The company reported earnings per share of $0.46 for the quarter, exceeding analysts’ expectations of $0.45. Revenue reached $459.28 million, surpassing expectations of $449.00 million. The company has declared a quarterly dividend of $0.30, representing a 3.09% yield on an annualized basis.
