American Homes 4 Rent (NYSE:AMH) Announces Quarterly Earnings Results

American Homes 4 Rent (NYSE:AMH) posted its earnings results on Thursday. The real estate investment trust reported $0.25 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.18), Zacks reports. The business had revenue of $423.50 million for the quarter, compared to analyst estimates of $422.46 million. American Homes 4 Rent had a return on equity of 4.91% and a net margin of 21.83%. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.41 earnings per share. American Homes 4 Rent updated its FY24 guidance to $1.74-1.78 EPS and its FY 2024 guidance to 1.740-1.780 EPS.

American Homes 4 Rent Price Performance

Shares of NYSE AMH traded up $0.91 during mid-day trading on Friday, hitting $37.75. 4,077,529 shares of the stock were exchanged, compared to its average volume of 2,389,782. The company has a market cap of $13.83 billion, a P/E ratio of 38.52, a PEG ratio of 3.10 and a beta of 0.74. The stock’s fifty day simple moving average is $36.24 and its two-hundred day simple moving average is $35.95. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.59 and a current ratio of 0.59. American Homes 4 Rent has a twelve month low of $31.36 and a twelve month high of $38.85.

American Homes 4 Rent Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend was Friday, June 14th. American Homes 4 Rent’s dividend payout ratio is 106.12%.

Insider Transactions at American Homes 4 Rent

In related news, Director Jack E. Corrigan purchased 10,000 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was acquired at an average price of $22.78 per share, with a total value of $227,800.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $227,800. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Douglas N. Benham acquired 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were acquired at an average cost of $23.00 per share, with a total value of $80,500.00. Following the transaction, the director now owns 37,997 shares of the company’s stock, valued at approximately $873,931. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jack E. Corrigan acquired 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was bought at an average cost of $22.78 per share, for a total transaction of $227,800.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $227,800. The disclosure for this purchase can be found here. Company insiders own 6.32% of the company’s stock.

Analyst Ratings Changes

AMH has been the topic of several analyst reports. JPMorgan Chase & Co. increased their target price on shares of American Homes 4 Rent from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Monday, June 17th. StockNews.com cut shares of American Homes 4 Rent from a “hold” rating to a “sell” rating in a report on Friday. Keefe, Bruyette & Woods upped their price target on shares of American Homes 4 Rent from $38.00 to $39.00 and gave the company a “market perform” rating in a report on Monday, May 13th. Barclays decreased their price target on shares of American Homes 4 Rent from $43.00 to $42.00 and set an “overweight” rating for the company in a report on Wednesday, May 29th. Finally, Evercore ISI upped their price target on shares of American Homes 4 Rent from $38.00 to $39.00 and gave the company an “in-line” rating in a report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.57.

American Homes 4 Rent Company Profile

AMH (NYSE: AMH) is a leading large-scale integrated owner, operator and developer of single-family rental homes. We're an internally managed Maryland real estate investment trust (REIT) focused on acquiring, developing, renovating, leasing and managing homes as rental properties. Our goal is to simplify the experience of leasing a home and deliver peace of mind to households across the country.