Skip to main content

Market Overview

UPDATE: Morgan Stanley Reiterates On American Homes 4 Rent Following Portfolio Acquisition

Share:

In a report published Wednesday, Morgan Stanley analyst Haendel E. St. Juste reiterated an Equal-Weight rating on American Homes 4 Rent (NYSE: AMH), but removed the $18.00 price target.

In the report, Morgan Stanley noted, “MH made its first sizable portfolio acquisition by purchasing the 1,300 home Beazer Pre-Owned Rental Homes portfolio. The acquisition was completed via a tax-free merger in which Beazer received 8.2M shares of AMH stock ($146M at yesterday's close) & $5M cash in an indemnification escrow, and AMH repaid $112.8M that was outstanding under Beazer Rental Homes' credit agreement. This puts the total deal value at ~$264M. However, with limited financial information about the portfolio, valuation and yields are unknown.”

American Homes 4 Rent closed on Tuesday at $17.75.

Latest Ratings for AMH

DateFirmActionFromTo
Mar 2021RBC CapitalInitiates Coverage OnOutperform
Mar 2021Morgan StanleyMaintainsEqual-Weight
Jan 2021Evercore ISI GroupDowngradesOutperformIn-Line

View More Analyst Ratings for AMH
View the Latest Analyst Ratings

 

Related Articles (AMH)

View Comments and Join the Discussion!

Posted-In: Haendel E. St. Juste Morgan StanleyAnalyst Color Price Target Analyst Ratings

Latest Ratings

StockFirmActionPT
ICADGuggenheimInitiates Coverage On24.0
SMBKRaymond JamesUpgrades27.0
WNSNeedhamMaintains88.0
EFXNeedhamMaintains260.0
GOOGLJefferiesMaintains2,700.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com