Hedgeye CEO Keith McCullough is adding American Homes 4 Rent to the long side of Investing Ideas. Below is a brief note.
There's nothing quite like a buying opportunity born out of a "downgrade" from ye Olde Wall!
American Homes 4 Rent (AMH) is not only a great way to be long of TRENDING (not "transitory") Inflation in US Rent, but to be long of REIT Rob.
Here's an excerpt from REITs analyst Rob Simone's latest note on the name:
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Takeaway: Rates to new customers STILL accelerating Key Takeaways: Best Idea Long AMH topped consensus by +$0.03/share (+10%) and Hedgeye by a penny (+1.8%) (see Figure 1 below), and as expected took the same store and Core FFO guidance ranges up essentially to where we were heading into the quarter. We have no idea why the Street was and remains so low, but this one just seemed to have a bright red bullseye painted on the side given the math underlying rental rate growth. But alas, we will take the ball and run with it! |
Buy the damn dip,
KM
