American Homes 4 Rent (AMH or the General Partner) (AMH) Fair Value & Analysis
Real Estate · US · Market cap $13.0B
American Homes 4 Rent (AMH or the General Partner)
AMH · US
Fair value as of: Jul 25, 2026
From 16 valuation models · updated 16 days ago
Share price +4.0% over the past month.
A solid business, but screening 38% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case ($26.80). The favourable scenario is already priced in.
- Solid but not exceptional quality (66/100) and above fair value, neither a clear bargain nor a standout compounder.
- As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 25, 2026.
How to read this chart
60‑month range $26.07 – $38.58 · fair‑value band $16.08 – $26.80 · the $34.63 price screens above the $21.44 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 25, 2026.
Analysis
American Homes 4 Rent (AMH or the General Partner) (AMH) currently trades at $34.63, while our model-based Fair Value estimate is $21.44, implying the stock looks roughly 38.1% overvalued today. The Quality Score stands at 66/100 (solid quality), in the Real Estate sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).
Over the trailing twelve months, American Homes 4 Rent (AMH or the General Partner) generated revenue of $1.9B at a net margin of 25.3%. Revenue grew 2.8% year over year. It earns a return on equity of 6.9%. Net debt stands at $5.0B. Fundamentals as of Jul 25, 2026
Our scenario range runs from $16.08 (bear case) to $26.80 (bull case); at $34.63, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 3% below its 52-week high and 28% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -44% fair-value upside, at -38%, AMH screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 16 models by family
Widest divergence: DCF Models ($42.13) versus Asset-Based ($13.12). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 25, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 61 · Market factors (momentum, volatility) 63
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
American Homes 4 Rent (AMH or the General Partner) is an internally managed Maryland real estate investment trust (REIT).
Full company description
American Homes 4 Rent (AMH or the General Partner) is an internally managed Maryland real estate investment trust (REIT). American Homes 4 Rent, L.P., a Delaware limited partnership and its consolidated subsidiaries (collectively, the Operating Partnership or the OP) is the entity through which the Company conducts substantially all of its business and owns, directly or through subsidiaries, substantially all of its assets. References to the Company, we, our and us mean collectively AMH, the Operating Partnership and those entities/subsidiaries owned or controlled by AMH and/or the Operating Partnership. We are focused on developing, renovating, leasing and managing single-family homes as rental properties. We commenced operations in November 2012. Our geographically diversified portfolio of single-family homes has evolved into a nationally recognized brand that is well-known for quality, value and resident satisfaction and is well respected in our communities. Our goal is to simplify the experience of leasing a home and provide an accessible housing option to the one in three households who choose to rent in the country. Since launching our internal AMH Development Program in 2017, we have contributed to addressing the national housing shortage by developing thousands of built-for-rental homes per year to meet growing demands. At a time when housing affordability remains constrained across the country, AMH is focused on being part of the solution by expanding the housing supply, elevating the resident experience and creating value for all our stakeholders. AMH is the general partner of, and as of December 31, 2025, owned approximately 87.9% of the common partnership interest in, the Operating Partnership. The remaining 12.1% of the common partnership interest was owned by limited partners. As the sole general partner of the Operating Partnership, AMH has exclusive control of the Operating Partnership's day-to-day management. The Company's management operates AMH and the Operating Partnership as one business, and
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
American Homes 4 Rent (AMH or the General Partner) reported revenue of $1.9B in FY2025 versus $1.3B in FY2021, a compound +9.4%/yr. Reported net income was $453M in FY2025, compounding +24.4%/yr from FY2021.
AMH screens 38% overvalued. Compare with AvalonBay Communities, Inc →
Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- How Investors May Respond To American Homes 4 Rent (AMH) Earnings Beat, Buyback And Guidance Hike
- American Homes 4 Rent (AMH) (Q2 2026) Earnings Call Highlights: Strong FFO Growth and Raised ...
- Compared to Estimates, American Homes 4 Rent (AMH) Q2 Earnings: A Look at Key Metrics
- American Homes 4 Rent (AMH) Tops Q2 FFO and Revenue Estimates
Peer Group
REIT - Residential · 57 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs REIT - Residential median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 78/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more REIT - Residential stocks, each showing price versus our Fair Value estimate (as of Jul 25, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| AvalonBay Communities, Inc AVB | $190.80 | $126.12 | -34% |
| EQR EQR | $67.86 | $38.10 | -44% |
| Essex Property Trust, Inc ESS | $293.46 | $177.90 | -39% |
| Invitation Homes INVH | $29.78 | $16.82 | -44% |
| Mid-America Apartment Communities, Inc MAA | $133.88 | $65.28 | -51% |
| Sun Communities, Inc SUI | $121.83 | $114.79 | -6% |
| UDR, Inc UDR | $39.59 | $19.76 | -50% |
| Equity LifeStyle Properties, Inc ELS | $66.05 | $21.27 | -68% |
| Camden Property Trust, an S&P 500 Company CPT | $113.73 | $41.87 | -63% |
| Millrose Properties, Inc MRP | $28.52 | $41.87 | +47% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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