Michael Gorman, an analyst from BTIG, maintained the Buy rating on American Homes (AMH – Research Report). The associated price target remains the same with $40.00.
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Michael Gorman has given his Buy rating due to a combination of factors including American Homes’ (AMH) financial performance and growth prospects. AMH’s fourth-quarter core funds from operations per share matched both BTIG’s and market expectations, despite lower-than-expected revenue being offset by reduced operating expenses. This stable financial outcome is a positive indicator for potential investors.
Additionally, the company’s guidance for fiscal year 2025, although slightly below consensus, indicates a year-over-year growth with a midpoint of 3%. The guidance includes strategic plans for significant investments in property development, with expectations to deliver 1,800-2,000 wholly-owned properties. Despite some mixed performance metrics, such as a decline in same-store occupancy and slower rent growth in key markets, the overall trend remains positive with the company ending the year at a high occupancy rate. These factors combined suggest a promising outlook for AMH, justifying the Buy rating.
In another report released yesterday, BMO Capital also maintained a Buy rating on the stock with a $40.00 price target.
Based on the recent corporate insider activity of 75 insiders, corporate insider sentiment is neutral on the stock.