LAS VEGAS, Jan. 30, 2026 /PRNewswire/ -- AMH (NYSE: AMH) (the "Company"), a leading large-scale integrated owner, operator and developer of single-family rental homes, today announced the tax treatment of the Company's 2025 cash distributions. For the tax year ended December 31, 2025, quarterly cash distributions for its: were classified as follows: | Classification | 3/31/2025 | | 6/30/2025 | | 9/30/2025 | | 12/31/2025 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | Ordinary Dividend Income ( ...

Core Viewpoint - Blackstone's BREIT claims an 8.1% return in 2025, significantly outperforming public REITs, which had modest returns, with the Vanguard REIT ETF (VNQ) returning 4.17% including dividends [1][3]. Performance Comparison - Blackstone attributes its outperformance to superior asset selection, claiming a 70% outperformance over public REITs, which is a relative measure rather than a direct percentage point comparison [3][4]. - The total return for public REITs is calculated based on market prices and dividends, while private equity returns, like those of BREIT, are based on internal evaluations of net asset value (NAV), making comparisons less straightforward [6][9]. Sector Performance - BREIT's portfolio includes significant exposure to rental housing, industrial, and data centers, with industrial being the standout performer in 2025, up about 17% [13][18]. - Single-family rentals and multifamily apartments faced challenges in 2025 due to increased supply, leading to declines in major players like American Homes 4 Rent and Camden [14][16]. - Data centers, comprising 21% of BREIT's portfolio, suffered despite strong fundamentals, with major companies like Equinix and Digital Realty experiencing significant drops in stock prices [19][20]. Market Dynamics - Publicly traded REITs are trading at a substantial discount to NAV, with the median REIT trading at 83% of NAV, indicating that BREIT's reported outperformance is more about the relative decline of public REITs than actual superior performance [27][28]. - The article suggests that both BREIT and public REITs performed reasonably well fundamentally, but the difference in reported returns stems from differing methodologies [29]. Investment Considerations - Investors are advised to consider the premium at which BREIT is trading compared to public REITs, which may lead to underperformance going forward [35][36]. - BREIT's redeemable shares allow investors to cash out at NAV, presenting an opportunity to reinvest in public REITs at more attractive valuations [37]. Blackstone's Position - Despite concerns about BREIT's performance, Blackstone has a strong track record of raising assets under management (AUM), which remains a key driver for the company [38].

Core Viewpoint - AMH will release its fourth quarter and full year 2025 financial and operating results on February 19, 2026, and will host a conference call on February 20, 2026, to discuss these results and recent events [1]. Group 1: Financial Results Announcement - The financial and operating results for the fourth quarter and full year 2025 will be announced after market close on February 19, 2026 [1]. - A conference call is scheduled for February 20, 2026, at 12:00 p.m. Eastern Time to review the results and engage in a Q&A session [1]. Group 2: Company Overview - AMH is a leading large-scale integrated owner, operator, and developer of single-family rental homes, functioning as an internally managed Maryland real estate investment trust (REIT) [3]. - As of September 30, 2025, AMH owned over 61,000 single-family properties across various regions in the United States, including the Southeast, Midwest, Southwest, and Mountain West [4]. Group 3: Recognition and Awards - In recent years, AMH has received several accolades, including being named a 2025 Great Place to Work®, a 2025 Top U.S. Homebuilder by Builder100, and one of the 2025 Most Trustworthy Companies in America by Newsweek and Statista Inc. [4].

Company Overview - American Homes 4 Rent (NYSE:AMH) is a significant operator of single-family rental homes in the United States, involved in acquiring, developing, renovating, and leasing properties. The company also manages an online platform for tenant convenience regarding rent payments and account management [4]. Analyst Ratings - Jade Rahmani from Keefe Bruyette upgraded his rating on American Homes 4 Rent from Market Perform to Outperform, with a price target of $37, indicating an upside of over 14% at the current price range [1]. - Conversely, Juan Sanabria from BMO Capital downgraded his rating from Outperform to Market Perform, maintaining the same price target of $37, which still reflects an upside of more than 14%. This downgrade was influenced by President Trump's proposal to ban institutional investors from single-family home investments, which could negatively impact single-family residential REITs [3]. Market Outlook - Keefe Bruyette presented a positive outlook for the commercial real estate market in 2026, predicting a "more secure recovery phase with moderate yet still healthy growth." This is expected to benefit high-quality assets, which are likely to deliver attractive returns [2].

Core Insights - The article discusses the perspective of individual landlords, often referred to as "mom-and-pop" landlords, who invest a portion of their net worth into rental properties, highlighting the dual requirement of capital and time investment for successful property management [1] Group 1 - The author operates a boutique law firm that specializes in investment transactions and disputes, indicating a focus on legal aspects of investment [1] - The goal is to identify potential high-return investments, specifically targeting small- and mid-cap companies through fundamental analysis of their business models, financials, and valuations [1] - The focus areas for investment include early-commercial-stage life sciences companies, insurers, homebuilders, and select consumer-facing businesses, suggesting a diverse investment strategy [1]

Core Viewpoint - The Single-Family Rental (SFR) REITs have experienced a significant decline due to potential regulatory changes regarding institutional investors' ability to purchase single-family homes, marking a challenging year for the sector [1][54]. Industry Overview - SFR REITs have shown strong fundamentals, with consistent growth in AFFO (Adjusted Funds from Operations) per share [4]. - The sector has historically achieved robust rental rate growth and high occupancy rates, particularly as renting became more economical compared to owning due to rising home prices and mortgage rates [16][19]. - The influx of new supply in 2022 and 2023 has created headwinds for rental rates, leading to increased competition for existing properties [20][23]. Company Analysis - Invitation Homes (INVH) and American Homes 4 Rent (AMH) are now considered to be in value territory after recent price drops, prompting the company to add them to active coverage [3]. - INVH and AMH own over 85,000 and 61,000 homes, respectively, allowing them to leverage scale for improved margins and customer satisfaction [13][14]. - AMH reported a rental operating margin of 55% and INVH at 56% for Q3 2025, showcasing their operational efficiency [14][15]. Valuation Metrics - The market price of SFR REITs has dropped significantly since late 2021, while AFFO has continued to rise, leading to lower trading multiples that align with the REIT index [40][44]. - INVH is trading at 16.0X AFFO and AMH at 17.8X AFFO, indicating a shift from their historically premium valuations [45]. - Both companies are trading at substantial discounts to their net asset values, with INVH at 68.7% and AMH at 75.7% of NAV [52]. Future Outlook - The near-term AFFO growth is expected to be subdued due to the supply wave, but demand remains healthy, suggesting a potential return to organic growth rates post-2025 [36][37]. - The proposed ban on institutional buying of homes could have mixed implications, potentially reducing new supply while benefiting existing properties [56][57].

Core Viewpoint - The Single-Family Rental (SFR) REITs have experienced a significant decline due to potential regulatory changes regarding institutional investors' ability to purchase single-family homes, marking a challenging year for the sector [1][54]. Industry Overview - SFR REITs have shown strong fundamentals, with consistent growth in AFFO (Adjusted Funds from Operations) per share [4][36]. - The sector has historically achieved robust rental rate growth and high occupancy rates, particularly as renting became more economical compared to owning due to rising home prices and mortgage rates [16][19]. Market Dynamics - The SFR market is highly fragmented, with many small operators struggling to compete with larger REITs like Invitation Homes (INVH) and American Homes 4 Rent (AMH), which own over 85,000 and 61,000 homes, respectively [9][13]. - The scale of larger REITs allows for improved margins and customer satisfaction, as they can employ experienced property managers and mechanics [14][19]. Recent Performance - AMH reported rental revenue of $478.5 million and NOI of $263.5 million, achieving a rental operating margin of 55% in Q3 2025 [15]. - INVH reported rental revenue of $666.2 million and NOI of $370.1 million, with a rental operating margin of 56% [15]. Supply and Demand Factors - A surge in new SFR developments in 2022 has created a competitive environment, leading to pressure on rental rates, particularly in markets like Phoenix and Atlanta [20][23]. - Same-store NOI growth for INVH has decreased to about 1% from an average of 4%, while AMH has maintained a ~4% growth rate due to its diversified property locations [29][32]. Valuation Insights - The recent decline in market prices has brought SFR REITs into value territory, with INVH and AMH trading at multiples of 16.0X and 17.8X AFFO, respectively, aligning them with the REIT index [44][45]. - Both companies are trading at significant discounts to their net asset values, with INVH at 68.7% and AMH at 75.7% of NAV [52]. Future Outlook - The near-term AFFO growth is expected to be subdued due to the supply wave, but demand remains healthy, suggesting a potential rebound in organic growth rates post-2025 [37][51]. - The proposed ban on institutional buying could negatively impact external growth but may enhance organic growth by reducing competition from new supply [56][57].

Core Viewpoint - The rising cost of housing in the U.S. has become a significant issue, with home prices increasing over 150% since 2019 and mortgage rates rising from approximately 3.7% to 6.2%, making home ownership unattainable for many Americans, particularly first-time buyers [2][3] Group 1: Housing Affordability Crisis - The affordability crisis is primarily driven by skyrocketing home prices and increasing mortgage rates, which have made home ownership an aspiration for three in four U.S. households [2][3] - President Trump has proposed banning institutional investors from purchasing single-family homes, which he believes are driving up prices and making home ownership less accessible [3][4] - The initiative has garnered bipartisan support, with various political figures acknowledging the negative impact of treating housing as a corporate strategy [3][4] Group 2: Institutional Investors' Role - Critics argue that institutional investors are reducing the inventory of homes available for sale, thereby driving up prices for regular buyers [4][5] - However, experts like Ed Pinto contend that institutional buyers are not the cause of rising prices but rather a symptom of deeper issues, such as restrictive zoning laws and a lack of new construction [5][14] - Institutional investors have historically played a role in stabilizing the housing market during downturns, such as the Great Financial Crisis and the post-pandemic recovery [7][13] Group 3: Market Dynamics and Misconceptions - Data shows that institutional investors account for only 1% of the total single-family housing stock, with small, mom-and-pop businesses dominating the market [9][14] - Recent trends indicate that large institutional investors have been net sellers rather than net buyers, contradicting claims that they are monopolizing the market [10][13] - Pinto's research highlights that there is no correlation between institutional ownership levels and housing price increases in various markets, suggesting that other factors are at play [13][14] Group 4: Potential Consequences of Policy Changes - Banning institutional investors from acquiring homes could have unintended negative consequences, such as reducing the availability of rental options for low-income families and hindering the repair and renovation of distressed properties [15] - The absence of institutional investors during economic downturns could exacerbate housing market volatility and limit options for aspiring homebuyers [15]

Core Viewpoint - American Homes 4 Rent (NYSE:AMH) is a significant player in the residential real estate investment trust (REIT) sector, focusing on single-family rental homes across the United States, catering to families seeking flexible living options [1] Group 1: Stock Performance and Ratings - On January 9, 2026, BMO Capital downgraded AMH to a "Market Perform" rating, with the stock priced at $31.63, indicating a neutral outlook [2] - Despite the downgrade, AMH's stock price has seen a slight increase of 2%, or $0.62, reflecting some investor confidence [2][5] - AMH's stock has shown volatility, with a daily range between $30.40 and $32.04, and over the past year, it has fluctuated from a low of $28.85 to a high of $39.49 [3] Group 2: Market Capitalization and Trading Volume - AMH's market capitalization stands at approximately $11.72 billion, with a trading volume of 7,084,921 shares on the NYSE, reflecting its significant presence in the residential REIT sector [4][5] - AMH's Zacks Rank of 3 (Hold) suggests a stable but less optimistic earnings outlook compared to competitors like Safehold, which holds a Zacks Rank of 2 (Buy) [3][4]

Core Viewpoint - The article discusses the investment landscape in the real estate sector, highlighting the performance and potential of various real estate investment trusts (REITs) and related securities. Group 1: Company Insights - Hoya Capital Research & Index Innovations is affiliated with Hoya Capital Real Estate, which provides investment advisory services focused on publicly traded securities in the real estate industry [2]. - The commentary provided by Hoya Capital is intended for informational and educational purposes, emphasizing that it does not constitute investment advice [2]. Group 2: Market Commentary - The article notes that past performance of investments is not indicative of future results, and it stresses the importance of consulting with investment, tax, or legal advisers before making investment decisions [3]. - It highlights that investments in real estate companies and housing industry firms carry unique risks, which should be considered by potential investors [2].