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Ken GriffinHeld
Citadel Advisors · Q2 2026
$16.05M
478.92K shares · 0.0% of portfolio
American Homes 4 Rent
American Homes 4 Rent (AMH) is listed on NYSE and classified in REIT - Residential, part of the Real Estate sector. It is headquartered in Las Vegas, United States and has 1,598 employees. The company is worth $13.08B and trades at 24.5x its earnings of the last twelve months; the median for its sector is 22.1x. Revenue was $1.85B in fiscal 2025, up 7.0% from the year before. Net income was $513.39M. The share price is 9.0% below its 52-week high of $35.07. It pays a dividend yielding 4.14%, and has raised its annual dividend for 5 years in a row in our records. 6 of the 38 superinvestors we track held it at the end of Q2 2026. The largest position belongs to Cliff Asness (AQR Capital Management), at $260.32M. In that quarter, 4 of them opened or added to the position. No open-market insider trades in it were filed over the last 30 days.
Written from the data on this page: SEC filings (13F, Form 4, annual reports) and market prices.
Year by year, from the annual reports; dividends from the payments themselves.
Bars are year-end balances; lines are what happened during the year.
Major managers that reported this stock in their latest 13F.
▼ -22.0% over 5Y.
today you would have $889.72▼ -11.0%
Dividends reinvested, splits accounted for. Past prices say what happened, not what will.
The last 13 closed years, each at that year’s closing price and reported numbers.
| Indicator | Median | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Year-end price | $32.10 | $37.42 | $35.96 | $30.14 | $43.61 | $30.00 | $26.21 | $19.85 | $21.84 | $20.98 | $16.66 | $17.03 | $16.20 | |
| P/E | 42.5x | 27.2x | 34.6x | 35.6x | 42.5x | 106.4x | 107.1x | 90.4x |
Seven formulas applied to the reported numbers, each with its assumption next to the result. None of them predicts a price.
Square root of 22.5 × earnings × book value. Blind to intangibles, so it undervalues software and brands.
Earnings growing 25.0% a year plus a 4.1% dividend yield. Growth capped at 25%.
Median P/E of 22.1 among peers in the sector.
Median P/E of 42.5 across this company’s own years on record.
Cash flow growing 15.0% a year for 10 years, discounted at 10%, then 2.5% forever.
This formula has no meaning here — usually a loss, negative cash flow, or a missing input.
Dividend growing 6.5% a year against a 8.0% required return, from the stock’s beta.
Companies of similar size in Real Estate, for comparison. The columns are the same ones above, in the same order.
| Stock | Price | P/E | P/B | Dividend yield | ROE | Market cap |
|---|---|---|---|---|---|---|
| UDRUDR, Inc. | $36.18 | 22.2x | 4.0x | 4.81% | 13.74% | $13.29B |
| DOCHealthpeak Properties Inc | $19.34 | 55.3x | 1.7x | 6.31% | 3.04% | $13.71B |
| NLYAnnaly Capital Management Inc | $18.34 | 12.7x | 1.0x | 16.36% | 7.35% | $13.82B |
| REGRegency Centers Corp | $74.38 |
| 248.1x |
| — |
| — |
| — |
| — |
| — |
| P/S | 7.0x | 6.4x | 8.0x | 8.0x | 7.1x | 10.9x | 7.8x | 6.9x | 5.4x | 6.0x | 5.6x | — | — | — |
| P/B | 1.6x | 1.7x | 1.9x | 1.9x | 1.6x | 2.3x | 1.6x | 1.5x | 1.1x | 1.1x | 1.2x | — | — | — |
| EPS | $1.18 | $1.08 | $1.01 | $0.71 | $0.41 | $0.28 | $0.29 | $0.08 | -$0.08 | -$0.14 | -$0.40 | -$0.34 | -$0.36 |
| Dividend yield | 1.01% | 3.74% | 2.78% | 2.45% | 2.39% | 0.92% | 0.67% | 0.76% | 1.01% | 0.92% | 0.95% | 1.20% | 1.17% | 0.31% |
| Payout | 96.93% | 101.69% | 96.30% | 87.13% | 101.41% | 97.56% | 71.43% | 68.97% | 250.00% | — | — | — | — | — |
| Profit margin | 13.09% | 27.75% | 27.08% | 26.62% | 20.80% | 16.15% | 13.09% | 13.67% | 10.48% | 7.96% | 1.19% | -7.60% | -8.30% | -13.71% |
| ROE | 2.67% | 7.30% | 6.54% | 6.20% | 4.77% | 3.47% | 2.67% | 2.93% | 2.14% | 1.49% | 0.25% | -1.47% | -0.96% | -0.65% |
Median of the years shown; P/E years above 200x are left out.
The average of the method families that answered, not of the seven numbers: four of the seven start from the same earnings per share.
6 methods answered, across 3 families.
Room for errors in the reported numbers.
+92.2% from the average.
Models, not forecasts, and not investment advice. How each formula works →
| 24.3x |
| 2.0x |
| 4.06% |
| 8.19% |
| $13.91B |
| ELSEquity Lifestyle Properties Inc | $61.17 | 30.3x | 6.8x | 3.55% | 22.34% | $12.27B |
| GLPIGaming & Leisure Properties, Inc. | $40.02 | 11.7x | 2.3x | 8.20% | 19.36% | $11.99B |