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

American Homes 4 Rent (NYSE:AMH) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 1.740-1.780 for the period, compared to the consensus 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 Up 2.5 %

Shares of American Homes 4 Rent stock traded up $0.91 during trading hours on Friday, reaching $37.75. 4,077,529 shares of the company’s stock were exchanged, 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 stock has a market cap of $13.83 billion, a P/E ratio of 38.52, a P/E/G ratio of 3.10 and a beta of 0.74. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.58. The company has a 50 day moving average of $36.28 and a two-hundred day moving average of $35.97.

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

American Homes 4 Rent Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. StockNews.com downgraded American Homes 4 Rent from a hold rating to a sell rating in a research report on Friday. Scotiabank raised their price target on American Homes 4 Rent from $39.00 to $41.00 and gave the company a sector outperform rating in a report on Thursday, May 16th. Keefe, Bruyette & Woods lifted their price objective on shares of 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. Evercore ISI increased their price objective on shares of 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, Barclays reduced their target price on shares of American Homes 4 Rent from $43.00 to $42.00 and set an overweight rating for the company in a report on Wednesday, May 29th. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $39.57.

Insiders Place Their Bets

In related news, Director Douglas N. Benham purchased 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were bought at an average price of $23.00 per share, for a total transaction of $80,500.00. Following the completion of the transaction, the director now owns 37,997 shares of the company’s stock, valued at $873,931. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Douglas N. Benham acquired 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were acquired at an average cost of $23.00 per share, with a total value of $80,500.00. Following the completion of the purchase, the director now directly owns 37,997 shares of the company’s stock, valued at approximately $873,931. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jack E. Corrigan bought 10,000 shares of the business’s stock in a transaction on 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 completion of the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $227,800. The disclosure for this purchase can be found here. Corporate 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.