UPDATE: Oppenheimer Starts American Homes 4 Rent (AMH) at Perform

Oppenheimer analyst Tyler Batory initiates coverage on American Homes 4 Rent (NYSE: AMH) with a Perform rating and a price target of $35.00.

The analyst comments "We are initiating coverage of American Homes 4 Rent (AMH) with a Perform rating and $35 price target. We have a positive view on the single-family rental (SFR) industry and the quality of the AMH portfolio. However, we see risks to 2023 consensus estimates, including margin pressure and a slowing pace of rent growth. While the in-house development program is unique, we have concerns about a difficult supply chain and land acquisition environment. We also think it will take several years for any benefits to influence overall company financials. Last, AMH has an ambitious external growth plan, which will require substantial external capital going forward."

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 $36.07 yesterday.

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