In addition to the Series H shares, Benham also maintains holdings in Series G Perpetual Preferred Shares. After the recent transactions, he owns 16,521 shares in Series G through an IRA and 3,404 shares directly. According to InvestingPro analysis, AMH maintains strong financial health with liquid assets exceeding short-term obligations and a current ratio of 1.74. For detailed insights and additional ProTips about AMH's financial performance, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro. According to InvestingPro analysis, AMH maintains strong financial health with liquid assets exceeding short-term obligations and a current ratio of 1.74. For detailed insights and additional ProTips about AMH's financial performance, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
In addition to the Series H shares, Benham also maintains holdings in Series G Perpetual Preferred Shares. After the recent transactions, he owns 16,521 shares in Series G through an IRA and 3,404 shares directly.
In other recent news, American Homes (NYSE:AMH) 4 Rent announced the pricing of $500 million senior notes due in 2035, with plans to use the proceeds to repay existing debt and fund general corporate purposes. The real estate investment trust also reported a 4.4% year-over-year revenue growth in the third quarter and a 5.4% increase in core net operating income. Despite challenges such as hurricane impacts, the company reported net income of $73.8 million.
Investment firm Evercore ISI upgraded American Homes 4 Rent from "In Line" to "Outperform", suggesting a potential return of approximately 16%. The upgrade was prompted by expectations that high mortgage rates will continue to fuel demand for single-family rentals. However, Keefe, Bruyette & Woods adjusted the price target for the company to $38 while maintaining a Market Perform rating on the stock.
These recent developments indicate robust performance by American Homes 4 Rent, driven by strategic acquisitions and development programs. The company's development program is set to deliver 2,300 homes this year, having already acquired 1,700 homes for $480 million, with a projected 6% net operating income. The company remains optimistic about capturing market demand and maintaining strong performance into the future.
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