STRS Ohio: A predatory investor?
"Sen. Blessing claims institutional investors like AMH are driving up rental and housing costs for their own profits. He's also pointing the finger at Ohio's public pension funds that are investing in AMH by millions of dollars."
"Just this past year, we did the legislation, House Bill 430, with the blanket rent control ban. Then, within the next year or so, suddenly Ohio STRS buys a million shares of a large institutional housing investor," Sen. Blessing said during the last housing committee hearing."
"The State Teachers Retirement System of Ohio, or STRS Ohio, serves 500,000 educators within the state and manages a fund of $91 billion. STRS Ohio invests in nearly 2,000 companies but owns more than a million shares of stock for just over 50 companies. Those heavy investments include Amazon, Apple, Kroger, Intel and American Homes 4 Rent. Its AMH shares are currently worth more than $55 million."
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