UPDATE: J.P. Morgan Initiates Coverage on American Homes 4 Rent on Positive Outlook
In a report published Monday, J.P. Morgan analyst Anthony Paolone initiated coverage on American Homes 4 Rent (NYSE: AMH) with an Overweight rating and $18.00 price target.
In the report, J.P. Morgan noted, “We are launching coverage on American Homes 4 Rent (AMH) with an Overweight rating and year-end 2013 price target of $18/share. AMH is the second largest owner of single family rental homes in the country with almost 20,000 units. AMH's portfolio quality is higher, in our view, than most peers in the space, and we think AMH's portfolio size, home values, and cash flows should all grow in the next two years and drive strong risk-adjusted returns relative to most REITs and commercial property types.”
American Homes 4 Rent closed on Friday at $16.02.
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