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Fly News Breaks for June 11, 2019
AMH
Jun 11, 2019 | 05:47 EDT
Citi analyst Nicholas Joseph downgraded American Homes 4 Rent to Neutral from Buy with an unchanged price target of $25. After outperforming its residential peers and real estate investment trusts year-to-date, the analyst sees a more fair valuation for American Homes at current share levels. In addition, risks include potential higher same store expense growth as preliminary property tax values are trending above expectations year-to-date as well as development execution, Joseph tells investors in a research note.
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