American Homes 4 Rent (NYSE:AMH) Releases Quarterly Earnings Results, Misses Estimates By $0.18 EPS

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 company had revenue of $423.50 million for the quarter, compared to the consensus estimate of $422.46 million. American Homes 4 Rent had a return on equity of 4.91% and a net margin of 21.83%. American Homes 4 Rent’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.41 EPS. 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 Stock Up 2.5 %

AMH stock traded up $0.91 during mid-day trading on Friday, reaching $37.75. 4,077,529 shares of the company traded hands, compared to its average volume of 2,389,782. American Homes 4 Rent has a fifty-two week low of $31.36 and a fifty-two week high of $38.85. The firm’s 50 day moving average price is $36.28 and its 200 day moving average price is $35.96. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.58. The stock has a market cap of $13.83 billion, a price-to-earnings ratio of 38.52, a P/E/G ratio of 3.10 and a beta of 0.74.

American Homes 4 Rent Dividend Announcement

The business 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. The ex-dividend date was Friday, June 14th. This represents a $1.04 dividend on an annualized basis and a yield of 2.75%. American Homes 4 Rent’s dividend payout ratio (DPR) is currently 106.12%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Keefe, Bruyette & Woods raised their target price on American Homes 4 Rent from $38.00 to $39.00 and gave the stock a “market perform” rating in a research report on Monday, May 13th. Barclays cut their target price 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 downgraded American Homes 4 Rent from a “hold” rating to a “sell” rating in a research report on Friday. Evercore ISI lifted their price objective on American Homes 4 Rent from $38.00 to $39.00 and gave the company an “in-line” rating in a research report on Tuesday, July 9th. Finally, JPMorgan Chase & Co. lifted their price objective on American Homes 4 Rent from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Monday, June 17th. One 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.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $39.57.

Insiders Place Their Bets

In other news, Director Douglas N. Benham bought 3,500 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were purchased at an average price of $23.00 per share, with a total value of $80,500.00. Following the transaction, the director now directly owns 37,997 shares in the company, valued at $873,931. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Douglas N. Benham purchased 3,500 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were bought at an average price of $23.00 per share, with a total value of $80,500.00. Following the acquisition, 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 at this link. Also, Director Jack E. Corrigan purchased 10,000 shares of the 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 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. Insiders own 6.32% of the company’s stock.

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.