American Homes 4 Rent (AMH) Fair Value & Analysis
Real Estate · US · Market cap $13.0B · ISIN US02665T3068
What is American Homes 4 Rent really worth?
American Homes 4 Rent
AMH · US
A solid business, but trading 55% above our fair value of $21.07.
Strengths
Risks
For context
Fair value as of: Aug 27, 2026
From 16 valuation models · updated 9 days ago
Share price −5.3% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case ($26.34). 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 Aug 27, 2026.
How to read this chart
60‑month range $26.07 – $38.58 · fair‑value band $16.08 – $26.34 · the $32.71 price screens above the $21.07 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 27, 2026.
Analysis
American Homes 4 Rent (AMH) currently trades at $32.71, while our model-based Fair Value estimate is $21.07, implying the stock looks roughly 55.3% overvalued today. The Quality Score stands at 66/100 (solid quality), in the Real Estate sector. Bull case: the DCF Models group reads highest at a median of $42.13 per share, and 4 of the 16 models we run sit above the $32.71 price. Bear case: the Asset-Based group reads lowest at $13.12, and 12 of the 16 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, American Homes 4 Rent 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 Aug 27, 2026
Our scenario range runs from $16.08 (bear case) to $26.34 (bull case); at $32.71, 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 8% below its 52-week high and 21% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at −46% fair-value upside, at −36%, 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, family-balanced 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. Every input is real reported data, nothing guessed.
All 16 models by family
Widest divergence: DCF Models ($42.13) versus Asset-Based ($13.12). Highest evidence: Residual Income (74).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 27, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 61 · Market factors (momentum, volatility) 58
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.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
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 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 55% overvalued. Compare with EQR →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Zacks Industry Outlook Essex Property, Equity LifeStyle and American Homes
- AMH Announces Distributions
- 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 ...
Peer Group
REIT - Residential · 45 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
Strength profile in five axes (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.
Similar stocks
10 more REIT - Residential stocks, each showing price versus our Fair Value estimate (as of Aug 27, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| EQR EQR | $66.79 | $36.19 | −46% |
| Essex Property Trust, Inc ESS | $284.03 | $177.90 | −37% |
| Invitation Homes INVH | $29.78 | $15.91 | −47% |
| Mid-America Apartment Communities, Inc MAA | $129.36 | $65.28 | −50% |
| Sun Communities, Inc SUI | $118.34 | $121.64 | +3% |
| UDR, Inc UDR | $37.51 | $19.76 | −47% |
| Equity LifeStyle Properties, Inc ELS | $65.44 | $20.93 | −68% |
| Camden Property Trust, an S&P 500 Company CPT | $105.96 | $41.51 | −61% |
| Millrose Properties, Inc MRP | $31.72 | $41.87 | +32% |
| Canadian Apartment Properties Real Estate Investment Trust CARUN | C$33.70 | C$21.86 | −35% |
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