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

American Homes 4 Rent (NYSE:AMH) announced its quarterly earnings data on Friday. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.13), Yahoo Finance reports. The company had revenue of $423.56 million for the quarter, compared to the consensus estimate of $421.28 million. American Homes 4 Rent had a return on equity of 5.02% and a net margin of 22.55%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.41 EPS. American Homes 4 Rent updated its FY 2024 guidance to 1.700-1.760 EPS.

American Homes 4 Rent Price Performance

Shares of AMH traded down $0.64 during trading hours on Friday, reaching $35.76. The stock had a trading volume of 2,358,958 shares, compared to its average volume of 2,082,600. The stock has a market capitalization of $13.09 billion, a PE ratio of 36.49, a PEG ratio of 2.75 and a beta of 0.70. American Homes 4 Rent has a 12 month low of $31.36 and a 12 month high of $37.97. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.46 and a current ratio of 0.46. The company’s 50-day moving average is $36.10 and its two-hundred day moving average is $35.50.

American Homes 4 Rent Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a dividend of $0.26 per share. The ex-dividend date was Thursday, March 14th. This is an increase from American Homes 4 Rent’s previous quarterly dividend of $0.22. This represents a $1.04 annualized dividend and a dividend yield of 2.91%. American Homes 4 Rent’s dividend payout ratio is 106.12%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AMH. BNP Paribas began coverage on American Homes 4 Rent in a research note on Monday, January 22nd. They issued an “outperform” rating and a $42.00 price target on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $39.00 price objective on shares of American Homes 4 Rent in a report on Monday, February 26th. StockNews.com cut shares of American Homes 4 Rent from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. Citigroup upgraded American Homes 4 Rent from a “neutral” rating to a “buy” rating and upped their target price for the company from $37.00 to $41.00 in a research report on Friday, March 22nd. Finally, Raymond James raised their price target on American Homes 4 Rent from $40.00 to $41.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $39.67.

Insiders Place Their Bets

In related news, CAO Brian Reitz sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $35.53, for a total value of $106,590.00. Following the completion of the transaction, the chief accounting officer now owns 35,343 shares in the company, valued at approximately $1,255,736.79. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, COO Bryan Smith sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $36.77, for a total value of $1,838,500.00. Following the sale, the chief operating officer now directly owns 125,580 shares in the company, valued at $4,617,576.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Brian Reitz sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $35.53, for a total transaction of $106,590.00. Following the transaction, the chief accounting officer now owns 35,343 shares of the company’s stock, valued at approximately $1,255,736.79. The disclosure for this sale can be found here. Insiders sold a total of 60,263 shares of company stock valued at $2,212,078 in the last 90 days. 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.