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Goldman Sachs analyst Julien Blouin initiated coverage of several multifamily REITs and single-family rental REITs companies. Initiating with a Buy rating, the analyst kept the price target for Invitation Homes Inc. (NYSE:INVH) at $46,  Mid-America Apartment Communities, Inc. (NYSE:MAA) at $187 and American Homes 4 Rent (NYSE:AMH) at $48. The analyst says that for single-family REITs like AMH and INVH, strong demand driven by demographics, home affordability, and migratory trends is expected to lead to re-accelerating same-store revenue growth in 2025 and 2026 as competitive rental supply pressures ease. In particular, the analyst expects AMH and INVH to experience the highest same-store revenue growth among their covered stocks in 2025. Additionally, Blouin says that AMH’s upcoming development projects will enable the company to achieve superior external growth. On the other ...


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