Sign in

    David Segal

    Senior Analyst at Green Street

    David Segal is a Senior Analyst at Green Street, specializing in real estate investment trust (REIT) research with detailed coverage of public companies in the commercial property sector. He is known for analyzing firms such as Simon Property Group, Prologis, and Equinix, delivering insights that have consistently outperformed sector benchmarks with a strong track record recognized by industry platforms like TipRanks. Segal began his career in investment research in the early 2000s, previously holding analytical roles at firms including Morgan Stanley and J.P. Morgan before joining Green Street in 2017. He maintains professional credentials including FINRA Series 7 and 63 licenses, and is regularly acknowledged for his influential market calls and expertise in real estate securities analysis.

    David Segal's questions to American Homes 4 Rent (AMH) leadership

    David Segal's questions to American Homes 4 Rent (AMH) leadership • Q1 2025

    Question

    David Segal from Green Street asked how the pricing for national builder assets in the 4% yield range compares to suburban multifamily product. He also inquired about the fair long-run occupancy rate for the single-family rental business.

    Answer

    CEO Bryan Smith stated that his understanding is that suburban multifamily cap rates are in the high 4% range, consistent with the builder assets. Regarding occupancy, Smith believes the new expectation has moved from a pre-COVID norm of 95% to a new sustainable level in the 96% range, supported by greater appreciation for professionally managed rentals and AMH's improved platform.

    Ask Fintool Equity Research AI