With the post-IPO quiet period over, the ratings and analyst comments roll in on American Home 4 Rent (AMH -0.2%).
FBR Capital initiates with a Buy and $19 price target, with analyst Steve Stelmach believing the company offers the most effective single-family opportunity thanks to its scale and structure (internally managed). "At worst, AMH is a portfolio of assets with a cost basis below replacement costs and below NAV ... (and) management and shareholder interests are aligned."
Wells Fargo initiates with a Hold, believing the company can continue to acquire homes accretively and at below market prices (they make it sound so easy). "However, we believe uncertainties remain in this relatively new market."
Also rating the company a Buy is JPMorgan.
Credit Suisse and Bank of America add their names to the Hold contingent.
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