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Friday, Aug 23
New IPO American Homes 4 Rent reportedly slashing jobs
- Just 3 weeks after the IPO, American Homes 4 Rent (AMH -1.3%) is reportedly firing 15% of its workforce, according to a Bloomberg report. Earlier this week, the company reported a $14M loss for Q2.
- The move raises a question over the suddenly popular but never-proven business model of earning decent returns by amassing thousands of single-family for rent (AMH has more than 20K now).
- Other publicly traded players (also recently gone public) include Silver Bay (SBY +0.6%) and American Residential Properties (ARPI +0.8%), not to mention the biggest of them all (but not a single-family rental pure-play) Blackstone (BX).
- AMH Q2 results.
- The IPO.