American Homes 4 Rent (NYSE:AMH) Issues Earnings Results

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

American Homes 4 Rent Trading Down 1.8 %

Shares of AMH traded down $0.64 during mid-day trading on Friday, hitting $35.76. The company had a trading volume of 2,358,958 shares, compared to its average volume of 2,082,600. American Homes 4 Rent has a 1-year low of $31.36 and a 1-year high of $37.97. The business’s 50-day simple moving average is $36.10 and its 200-day simple moving average is $35.49. The stock has a market cap of $13.09 billion, a PE ratio of 36.49, a P/E/G ratio of 2.80 and a beta of 0.70. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.58.

American Homes 4 Rent Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given 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 yield of 2.91%. American Homes 4 Rent’s dividend payout ratio is 106.12%.

Analyst Ratings Changes

A number of research firms have recently commented on AMH. Citigroup upgraded American Homes 4 Rent from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $37.00 to $41.00 in a research report on Friday, March 22nd. BNP Paribas started coverage on American Homes 4 Rent in a research note on Monday, January 22nd. They issued an “outperform” rating and a $42.00 price objective for the company. StockNews.com cut shares of American Homes 4 Rent from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. Raymond James raised their price objective on shares of 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. Finally, Mizuho upped their target price on shares of American Homes 4 Rent from $37.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.67.

Insider Activity

In other news, CAO Brian Reitz sold 3,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $35.53, for a total value of $106,590.00. Following the transaction, the chief accounting officer now directly owns 35,343 shares in the company, valued at approximately $1,255,736.79. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other American Homes 4 Rent news, COO Bryan Smith sold 50,000 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $36.77, for a total transaction of $1,838,500.00. Following the transaction, the chief operating officer now owns 125,580 shares in the company, valued at $4,617,576.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Brian Reitz sold 3,000 shares of American Homes 4 Rent stock in a transaction 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 sale, the chief accounting officer now directly owns 35,343 shares in the company, valued at approximately $1,255,736.79. The disclosure for this sale can be found here. Insiders sold 60,263 shares of company stock valued at $2,212,078 in the last ninety days. Company 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.