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REIT that owns, leases and develops single-family rental homes across US Sunbelt and Midwest markets.
REIT that owns, leases and develops single-family rental homes across US Sunbelt and Midwest markets.
Collects rent on single-family homes it owns, mostly on one-year leases, and builds more of them through its own development arm rather than relying only on buying existing houses. Founded in 2012 with backing from Public Storage's founder, B. Wayne Hughes.
Moat: narrow (scale, installed base). National scale lowers acquisition/renovation/management cost per home versus small landlords.
Headquarters: Las Vegas, Nevada, United States · Founded: 2012 · Employees: 1,598
Size American Homes 4 Rent (AMH) is a United States Real Estate company (Real Estate Investment Trusts) with a market value of $11.8B, the 701st largest of 3,117 United States companies the cockpit tracks. Shares closed at $32.82 on 6 Nov 2026.
Performance Over six months the shares gained 2.5%, against -1.0% for the median peer and -1.1% for the United States market (cap-weighted) — 7th highest of 21 in its peer set.
Growth Revenue grew 4.2% over the last twelve months (peer median +5.4%); the operating margin is 24.8% (peer median 34.8%).
Valuation It trades at 1.73× book value against a peer median of 2.43× (6th cheapest of 21).
Price implies The share price implies a return on equity of about 12.9%; American Homes 4 Rent delivers 6.8%, so the price asks more than the business earns today.
Credit American Homes 4 Rent has 8 bonds outstanding ($4.20B), rated BBB by the agencies and trading like BBB at a weighted spread of 90 bp.
Short interest Short interest is 3.7% of the free float (15 Oct 2026).
Next results Next results expected around 25 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $1.89B | $1.87B | $1.75B | $1.64B | $1.51B |
| Revenue growth | — | +7% | +6% | +9% | — |
| Gross profit | $591M | $567M | $519M | $468M | $419M |
| EBITDA | $976M | $956M | $878M | $809M | $734M |
| Net income | $477M | $452M | $411M | $379M | $272M |
| Free cash flow | $783M | $784M | $772M | $612M | $497M |
| Capital expenditure | $150M | $159M | $156M | $213M | $286M |
| Total debt | $5.15B | $5.11B | $5.03B | $4.48B | $4.54B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| American Homes 4 Rent AMH | $11.8B | +2% | +4% | 7% | 1.73× | 12.9% |
| Invitation Homes INVH | $15.6B | -5% | +5% | 7% | 1.79× | 13.6% |
| Equity LifeStyle Properties ELS | $12.3B | 0% | +3% | 22% | 6.99× | 37.4% |
| Camden Property Trust CPT | $13.4B | -3% | +1% | 8% | 2.68× | 18.2% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | AMH | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +7.6% | +7.2% | 9th highest of 21 |
| 6-month return | +2.5% | -1.0% | 7th highest of 21 |
| Return on equity | 6.8% | 8.2% | 6th lowest of 20 |
| Price / book | 1.73× | 2.43× | 6th cheapest of 21 |
| Trailing P/E | 26.0× | 23.9× | 8th most expensive of 17 |
| ROE the price implies | 12.9% | 15.9% | 5th least demanding of 21 |
| ROE delivered | 6.8% | 8.2% | 6th lowest of 20 |
| Bond spread | 90 bp | 84 bp | 5th widest of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| American Homes 4 Rent AMH | United States | $11.8B | +2% | +4% | 7% | 1.73× | 12.9% | 6.8% |
| UDR UDR | United States | $11.6B | -1% | +1% | 22% | 3.76× | 22.9% | 21.8% |
| Equity LifeStyle Properties ELS | United States | $12.3B | 0% | +3% | 22% | 6.99× | 37.4% | 22.3% |
| Gaming and Leisure Properties GLPI | United States | $11.3B | -19% | +7% | 20% | 2.28× | 14.8% | 19.6% |
| AGNC Investment AGNC | United States | $11.2B | -19% | +152% | 1% | 1.15× | 13.1% | 0.9% |
| American Healthcare REIT AHR | United States | $12.7B | +12% | +16% | 4% | 3.05× | 20.7% | 4.0% |
| Scentre SCG.AX | Australia | $13.1B | -1% | -4% | 10% | 0.97× | 11.6% | 10.4% |
| EastGroup Properties EGP | United States | $10.4B | -6% | +10% | 9% | 2.92× | 22.3% | 8.9% |
| BXP BXP | United States | $10.4B | +11% | +3% | 10% | 2.00× | 17.2% | 10.4% |
| Camden Property Trust CPT | United States | $13.4B | -3% | +1% | 8% | 2.68× | 18.2% | 7.8% |
| Regency Centers REG | United States | $13.7B | -3% | +8% | 8% | 2.06× | 15.2% | 8.2% |
| Mid-America Apartment Communities MAA | United States | $13.8B | -8% | +1% | 7% | 2.45× | 16.1% | 7.0% |
| Link REIT 0823.HK | Hong Kong | $13.8B | +3% | -3% | -5% | 0.71× | 5.9% | -4.7% |
| CubeSmart CUBE | United States | $10.1B | +11% | +3% | 13% | 4.06× | 30.4% | 13.1% |
| Janus Living JAN | United States | $9.93B | +15% | n/a | n/a | 2.41× | 15.7% | n/a |
| Federal Realty Investment Trust FRT | United States | $9.74B | -2% | +8% | 14% | 3.14× | 23.7% | 13.6% |
| Healthpeak Properties DOC | United States | $14.3B | +4% | +9% | 5% | 1.78× | 15.1% | 4.9% |
| Sun Communities SUI | United States | $14.4B | -4% | -19% | 5% | 2.76× | 18.4% | 5.3% |
| Omega Healthcare Investors OHI | United States | $14.6B | +2% | +14% | 14% | 2.66× | 15.3% | 14.2% |
| CapitaLand Integrated Commercial Trust C38U.SI | Singapore | $14.6B | +2% | +5% | 8% | 1.09× | 6.1% | 7.6% |
| Annaly Capital Management NLY | United States | $14.8B | -17% | +23% | 7% | 1.05× | 11.8% | 7.3% |
American Homes 4 Rent has 8 bonds outstanding with $4.20B face value. The agencies rate it BBB; its bonds trade like BBB. Weighted yield 5.57%, a spread of 90 bp over government bonds.