BMO Capital Upgrades American Homes 4 Rent (AMH) to Outperform

BMO Capital analyst Juan C. Sanabria upgraded American Homes 4 Rent (NYSE: AMH) from Market Perform to Outperform with a price target of $39.00.

The analyst comments: “We upgrade AMH to Outperform; maintain $39/sh target. Although political uncertainty remains with the 21st Century Road to Housing Act in limbo, we're heartened initial worst case regulatory scenarios appear off the table with bipartisan support largely maintaining the status quo and allowing build-for-rent (BFR). Valuation is attractive while fundamentals appear to be gradually improving with supply moderating (BFR down ~60% from peak). Tenants remain sticky with renewals healthy and disposition funded buybacks accretive. We favor AMH's geographic diversity (less oversupplied Sunbelt), and stronger comparable all-in margins vs INVH.”

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 $33.29 yesterday.

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