Centiva Capital LP significantly increased its investment in American Homes 4 Rent (NYSE: AMH) during the third quarter of 2023, acquiring an additional 34,354 shares. This move raised its holdings by 203.3%, resulting in a total of 51,251 shares valued at approximately $1.7 million, according to recent filings with the Securities and Exchange Commission.
Other institutional investors have also adjusted their positions in American Homes 4 Rent. Bamco Inc. NY raised its stake by 7.3%, now owning 1,116,846 shares worth $37.1 million after purchasing an additional 76,014 shares during the same period. Meanwhile, Bank of Nova Scotia increased its holdings by 42.3%, adding 5,706 shares to reach a total of 19,184 shares valued at $638,000.
Institutional Holdings and Stock Performance
Investment firms such as AllianceBernstein L.P. and Creative Planning also enhanced their stakes. AllianceBernstein raised its ownership by 3.4%, now holding 613,702 shares valued at $20.4 million, while Creative Planning boosted its position by a remarkable 95.7% to 36,379 shares, worth $1.2 million.
In total, institutional investors own 91.87% of American Homes 4 Rent’s stock. As of the latest trading session, shares of AMH opened at $28.37. The company currently has a market capitalization of $10.32 billion, a price-to-earnings (P/E) ratio of 24.04, and a price-to-earnings-growth (PEG) ratio of 4.07.
American Homes 4 Rent’s financial metrics include a debt-to-equity ratio of 0.66, with current and quick ratios both at 0.63. The company’s stock performance over the past year has seen a low of $28.21 and a high of $39.49.
Dividend Increase and Insider Transactions
In related news, American Homes 4 Rent has announced an increase in its quarterly dividend. Shareholders will receive $0.33 per share on March 31, 2024, up from the previous dividend of $0.30. The declared dividend represents an annualized amount of $1.32 and a yield of 4.7%. The ex-dividend date is set for March 13, 2024.
Insider activity has also been notable, with David Goldberg, a company director, purchasing 2,000 shares at an average price of $29.30 per share on March 3, 2024, totaling $58,600. This acquisition increased his holdings to 36,723 shares, valued at approximately $1.08 million. Another director, Douglas N. Benham, bought 1,200 shares for $29,040, raising his stake to 44,717 shares.
Over the last 90 days, corporate insiders have acquired a total of 6,771 shares worth $183,684. Insider ownership now stands at 6.32% of the total shares.
Wall Street analysts have provided mixed ratings for American Homes 4 Rent, with seven analyststen giving it a “Hold” rating. The average target price set by analysts is $35.53, with recent adjustments from firms such as Morgan Stanley, which lowered its target from $40.00 to $39.00, maintaining an “overweight” rating.
American Homes 4 Rent operates as a publicly traded real estate investment trust (REIT) focused on acquiring and managing single-family rental homes. Since its initial public offering in April 2013, the company has built a substantial portfolio aimed at meeting the demands of contemporary renters. Its operations are concentrated in key growth markets across the United States.
