Key insights
- Raymond James upgraded American Homes 4 Rent and Invitation Homes to "Outperform" due to revisions in proposed housing legislation that are now viewed favorably for single-family rental REITs. This suggests a potentially bullish outlook for the rental housing sector, driven by legislative tailwinds. The upgrades could lead to increased investor interest and positive price movement in these stocks.
Investing.com -- Raymond James has upgraded ratings on leading single-family rental REITs American Homes 4 Rent and Invitation Homes, citing renewed optimism around proposed U.S. housing legislation and improving rental market fundamentals.
Raymond James analysts raised both companies to “Outperform” after revisions to the proposed “21st Century ROAD to Housing Act” removed several provisions viewed as harmful to institutional single-family rental operators. The brokerage upgraded American Homes 4 Rent with a new target price of $35, while Invitation Homes received a $32 target price.