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

American Homes 4 Rent (NYSE:AMH) posted 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. American Homes 4 Rent had a net margin of 23.42% and a return on equity of 5.14%. The business had revenue of $423.56 million for the quarter, compared to the consensus estimate of $421.28 million. During the same quarter last year, the business posted $0.41 EPS. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. American Homes 4 Rent updated its FY 2024 guidance to 1.700-1.760 EPS.

American Homes 4 Rent Stock Down 1.8 %

Shares of AMH traded down $0.64 during midday trading on Friday, reaching $35.76. 2,358,958 shares of the stock were exchanged, compared to its average volume of 3,320,475. The company has a market cap of $13.09 billion, a price-to-earnings ratio of 35.76, a P/E/G ratio of 2.76 and a beta of 0.70. The firm has a 50 day simple moving average of $36.10 and a 200-day simple moving average of $35.49. American Homes 4 Rent has a 12-month low of $31.36 and a 12-month high of $37.97. 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 company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a $0.26 dividend. This is a positive change 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%. The ex-dividend date was Thursday, March 14th. American Homes 4 Rent’s dividend payout ratio is presently 104.00%.

Insider Activity at American Homes 4 Rent

In other news, CAO Brian Reitz sold 3,000 shares of the stock in a transaction on Monday, February 26th. The shares were 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 in the company, valued at approximately $1,255,736.79. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CAO Brian Reitz sold 3,000 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $35.53, for a total transaction of $106,590.00. Following the completion of the sale, the chief accounting officer now owns 35,343 shares in the company, valued at approximately $1,255,736.79. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Matthew J. Hart sold 7,263 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $36.76, for a total value of $266,987.88. Following the completion of the transaction, the director now directly owns 41,336 shares in the company, valued at $1,519,511.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,263 shares of company stock valued at $2,212,078. 6.32% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AMH. BNP Paribas initiated coverage on shares of American Homes 4 Rent in a research report on Monday, January 22nd. They issued an “outperform” rating and a $42.00 price target on the stock. Mizuho boosted their target price on American Homes 4 Rent from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Royal Bank of Canada reiterated an “outperform” rating and issued a $39.00 price target on shares of American Homes 4 Rent in a research report on Monday, February 26th. Raymond James boosted their price objective on American Homes 4 Rent from $40.00 to $41.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Finally, StockNews.com lowered shares of American Homes 4 Rent from a “hold” rating to a “sell” rating in a research note on Wednesday, March 20th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $39.67.

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.