American Homes 4 Rent prices shares for IPO

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American Homes 4 Rent said that they are targeting prices between US$16 to US$18 per share for the company's initial public offering. The prices set are for American Homes 4 Rent's bid to raise an estimated US$750 million through a public offering that will be posted on the New York Stock Exchange.

"This has got to be the single most high-profile IPO in the sector, and everything else that's priced going forward is going to be priced off of this one," said Jim Wilson, head of residential real-estate investment banking at JMP Securities. "It's going to be the communicator for the whole industry."

American Homes 4 Rent was founded by the California based billionaire B. Wayne Hughes in 2001. American Homes owns and controls an estimated 19,000 homes all over the United States. The public offering will tag American Homes as the largest publicly traded real estate company in the current fledging rental industry. The American Homes' IPO is the third public offering of a single home, family rental REIT.

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