Trading was heavy with 3,843K shares changing hands by the end of trading on Wednesday. Shares saw a steep increase in trading volume of 75.59% over the normal average daily volume.
Traders are feeling more bullish on shares of American Homes 4 Rent lately looking at the downtick in short interest. The firm saw a fall in short interest of -9.09% as of October 31, 2017 from the last reporting period. Short interest fell from 6,696,298 to 6,087,295 over that timeframe. Days to cover decreased from 5.0 to 4.0 and the percentage of shorted shares was 0.02% on October 31.
American Homes 4 Rent (NYSE:AMH) has been the object of insider buying activity recently. Director Douglas N. Benham purchased 3,989 shares at a price of $26.17 on Tue the 10th. That brings the Director’s holdings to $261,412 per an SEC filing yesterday. B. Wayne Et Al Hughes, Director reported the purchase of 1,372,200 shares of (AMH). The shares sold for $21.84. Hughes now owns $257,372,060 of the stock per the Form 4 SEC filing.
Here are a few substantial investment firms who have updated their positions. As of quarter end Renaissance Technologies LLC had bought a total of 119,600 shares growing its position 3.3%. The value of the investment in (AMH) went from $81,219,000 to $80,721,000 a change of $498,000 quarter over quarter. As of the end of the quarter Burgundy Asset Management Ltd. had disposed of 156,663 shares trimming its stake by 3.9%. The value of the company’s investment in American Homes 4 Rent decreased from $89,932,000 to $83,104,000 decreasing 7.6% for the reporting period.
As of the end of the quarter Clearbridge Investments, LLC had acquired 5,342 shares growing its holdings by 0.1%. The value in dollars went from $90,406,000 to $87,077,000 a change of 3.7% since the last quarter. As of the end of the quarter Cohen & Steers Inc had disposed of a total of 9,280,120 shares trimming its holdings by 47.6%. The value of the investment in American Homes 4 Rent decreased from $439,767,000 to $221,538,000 decreasing 49.6% quarter to quarter.
On October 20 analysts at Citigroup updated coverage of AMH with a rating of “Buy”. BTIG Research released guidance on AMH setting a rating of “Buy”.
On September 29 FBR & Co left the company rating at “Buy” targeting a price of $26.00.
The company is now up since yesterday’s close of 21.58. The most current P/E ratio is 2 and the market cap is 6.21B. In the last earnings report the EPS was $0.01 with 286.74M shares presently outstanding.
American Homes 4 Rent, launched on October 19, 2012, is an internally managed real estate investment trust (REIT) focused on acquiring, renovating, leasing and operating single-family homes as rental properties. The Business’s primary objective is to generate attractive risk-adjusted returns for its shareholders through dividends and capital appreciation by acquiring, renovating, leasing and operating single-family homes as rental properties. As of December 31, 2016, the Company owned 48,422 single-family properties in 22 states, including 1,119 properties held for sale, and had an additional 47 properties in escrow that it intended to acquire. The Company has an integrated operating platform that offers property management, acquisitions, construction, marketing, leasing, financial and administrative functions. The Company is externally managed and advised by American Homes 4 Rent Advisor, LLC (the Advisor), and the leasing, managing and advertising of its properties is overseen and directed by American Homes 4 Rent Management Holdings, LLC (the Property Manager), both of which are subsidiaries of American Homes 4 Rent, LLC (AH LLC)..