American Homes 4 Rent offers steady growth and 3.8% dividend despite new rental regulations.

American Homes 4 Rent (AMH) remains an attractive investment with stable growth and a secure 3.8% dividend yield despite new regulations limiting institutional single-family rental (SFR) growth. The new laws grandfather AMH's existing portfolio, allowing it to continue expanding its build-to-rent properties and potentially consolidate the sector. In Q2, AMH reported 2.7% growth in same-property net operating income and 96% occupancy, raising its funds from operations guidance to $1.93–1.97 per share. Shares currently trade at a 5.7% FFO yield with a fair value near $38, supported by strong development economics and ongoing rental demand.