AMH price target lowered to $39 from $40 at RBC Capital

RBC Capital lowered the firm’s price target on AMH (AMH) to $39 from $40 and keeps an Outperform rating on the shares after its Q4 FFO miss. The company’s initial guides are typically conservative, but given a particularly soft Q4, the assumptions for a significant rebound in spreads and occupancy look a bit stretched, the analyst tells investors in a research note. The development yields for 2025 are also about 50 bps below RBC’s prior expectations, and the program doesn’t look particularly compelling, the firm added.