American Homes 4 Rent (NYSE:AMH) Issues FY 2024 Earnings Guidance

American Homes 4 Rent (NYSE:AMH) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 1.740-1.780 for the period, compared to the consensus EPS estimate of 1.740. The company issued revenue guidance of -. American Homes 4 Rent also updated its FY24 guidance to $1.74-1.78 EPS.

American Homes 4 Rent Stock Performance

AMH stock traded up $0.91 during trading on Friday, hitting $37.75. 4,077,529 shares of the company traded hands, compared to its average volume of 2,389,782. The stock’s 50-day simple moving average is $36.28 and its 200 day simple moving average is $35.97. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.59 and a quick ratio of 0.59. The company has a market cap of $13.83 billion, a PE ratio of 38.52, a P/E/G ratio of 3.10 and a beta of 0.74. American Homes 4 Rent has a 1 year low of $31.36 and a 1 year high of $38.85.

American Homes 4 Rent (NYSE:AMH) last posted its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.18). The business had revenue of $423.50 million during the quarter, compared to analysts’ expectations of $422.46 million. American Homes 4 Rent had a net margin of 21.83% and a return on equity of 4.91%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.41 earnings per share. On average, equities analysts expect that American Homes 4 Rent will post 1.74 earnings per share for the current fiscal year.

American Homes 4 Rent Dividend Announcement

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

Wall Street Analysts Forecast Growth

AMH has been the subject of several research reports. JPMorgan Chase & Co. boosted their price target on 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. Barclays dropped their price target on American Homes 4 Rent from $43.00 to $42.00 and set an overweight rating for the company in a research report on Wednesday, May 29th. StockNews.com cut American Homes 4 Rent from a hold rating to a sell rating in a research report on Friday. Scotiabank boosted their price objective on American Homes 4 Rent from $39.00 to $41.00 and gave the stock a sector outperform rating in a research note on Thursday, May 16th. Finally, Evercore ISI boosted their price objective on American Homes 4 Rent from $38.00 to $39.00 and gave the stock an in-line rating in a research note on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, American Homes 4 Rent has an average rating of Moderate Buy and an average price target of $39.57.

Insider Activity

In other American Homes 4 Rent news, Director Jack E. Corrigan purchased 10,000 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were acquired at an average price of $22.78 per share, with a total value of $227,800.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $227,800. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In other 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 purchased at an average price of $23.00 per share, for a total transaction of $80,500.00. Following the acquisition, the director now owns 37,997 shares of the company’s stock, valued at $873,931. The transaction was disclosed in a filing with the SEC, 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 purchased at an average price of $22.78 per share, for a total transaction of $227,800.00. Following the acquisition, 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. Corporate insiders own 6.32% of the company’s stock.

About American Homes 4 Rent

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.