Wells Fargo Starts American Homes 4 Rent (AMH) at Market Perform

August 26, 2013 7:29 AM EDT
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Price: $20.82 -0.19%

Rating Summary:
    5 Buy, 5 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 10
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Wells Fargo initiated coverage on American Homes 4 Rent (NYSE: AMH) with a Market Perform rating and a price target of $16-$18.

Analyst Jeffrey J. Donnelly said, "In our view, American Homes 4 Rent will continue to acquire single-family homes accretively and at below market prices. Net economic yields on new purchases in the high 5% area remain attractive, in our view, as continued economic growth could fuel additional home price appreciation. However, we believe uncertainties remain in this relatively new market."

For an analyst ratings summary and ratings history on American Homes 4 Rent click here. For more ratings news on American Homes 4 Rent click here.

Shares of American Homes 4 Rent closed at $16.02 yesterday.

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