Stock Repurchase Program Initiated by American Homes 4 Rent (AMH) Board

American Homes 4 Rent (NYSE:AMH) declared that its board has authorized a share buyback program, which permits the company to repurchase $300.00 million in shares on Thursday, February 22nd, EventVestor reports. This repurchase authorization permits the real estate investment trust to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

American Homes 4 Rent (NYSE AMH) opened at $19.27 on Friday. American Homes 4 Rent has a 1-year low of $18.39 and a 1-year high of $23.98. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.51 and a quick ratio of 1.51. The company has a market cap of $5,530.00, a price-to-earnings ratio of -240.88, a PEG ratio of 1.41 and a beta of 0.58.

American Homes 4 Rent (NYSE:AMH) last released its earnings results on Thursday, February 22nd. The real estate investment trust reported $0.26 EPS for the quarter, hitting the consensus estimate of $0.26. American Homes 4 Rent had a net margin of 6.56% and a return on equity of 1.15%. The firm had revenue of $242.80 million for the quarter, compared to the consensus estimate of $244.81 million. During the same quarter in the previous year, the firm earned $0.26 earnings per share. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. research analysts expect that American Homes 4 Rent will post 1.02 EPS for the current fiscal year.

A number of equities analysts have weighed in on the stock. B. Riley set a $26.00 price target on shares of American Homes 4 Rent and gave the stock a “buy” rating in a research report on Tuesday, November 14th. JPMorgan Chase & Co. raised shares of American Homes 4 Rent from a “neutral” rating to an “overweight” rating and set a $26.00 target price on the stock in a report on Friday, December 15th. Evercore ISI raised shares of American Homes 4 Rent from an “in-line” rating to an “outperform” rating and set a $24.50 target price on the stock in a report on Monday, December 4th. Keefe, Bruyette & Woods raised shares of American Homes 4 Rent from a “market perform” rating to an “outperform” rating in a report on Thursday, December 7th. Finally, TheStreet downgraded shares of American Homes 4 Rent from a “b-” rating to a “c+” rating in a report on Wednesday, January 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $25.22.

In other American Homes 4 Rent news, Director Douglas N. Benham purchased 2,005 shares of the firm’s stock in a transaction that occurred on Friday, January 26th. The shares were bought at an average price of $24.80 per share, with a total value of $49,724.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director B Wayne Et Al Hughes purchased 4,550 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The shares were acquired at an average cost of $22.00 per share, for a total transaction of $100,100.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 1,278,300 shares of company stock worth $27,237,993. 27.82% of the stock is owned by insiders.

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About American Homes 4 Rent

American Homes 4 Rent is an internally managed real estate investment trust (REIT) focused on acquiring, renovating, leasing and operating single-family homes as rental properties. The Company’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.

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