Keefe, Bruyette & Woods Reiterates Outperform, Reduces Price Target On American Homes 4 Rent On 4Q Wrap-Up

Loading...
Loading...
In a report published Monday, Keefe, Bruyette & Woods analyst Jade J. Rahmani reiterated an Outperform rating on
American Homes 4 RentAMH
, but reduced the price target from $21.00 to $20.00. In the report, Keefe, Bruyette & Woods noted, "Core FFO was $0.01 below our forecast on a mix of factors. Core NOI of 62.1% exceeded our 61.8% and management revised its NOI target to 61-63% from 61-62%. The company cited several initiatives to improve operating efficiency. We reduce our near-term estimates by approximately $0.01-$0.02 per quarter on slightly lower acquisitions and to incorporate the company's 1Q fixed-rate securitization. We reduce our price target to $20 (from $21), as a result. We believe AMH remains well positioned to take advantage of opportunities in the sector, including consolidation and securitization. Maintain Outperform." American Homes 4 Rent closed on Friday at $16.69.
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorPrice TargetAnalyst RatingsBruyette & WoodsJade J. RahmaniKeefe
We simplify the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...