American Homes 4 Rent (NYSE:AMH) Updates FY24 Earnings Guidance

American Homes 4 Rent (NYSE:AMH) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $1.74-1.78 for the period, compared to the consensus earnings per share estimate of $1.74. American Homes 4 Rent also updated its FY 2024 guidance to 1.740-1.780 EPS.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Barclays decreased their price target 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. Evercore ISI lifted their target price 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. JPMorgan Chase & Co. lifted their target price on shares of 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. StockNews.com downgraded shares of American Homes 4 Rent from a hold rating to a sell rating in a research note on Friday. Finally, Keefe, Bruyette & Woods raised their price target on shares of American Homes 4 Rent from $38.00 to $39.00 and gave the stock a market perform rating in a research note on Monday, May 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $39.57.

American Homes 4 Rent Stock Up 2.5 %

Shares of NYSE:AMH traded up $0.91 during trading on Friday, hitting $37.75. 4,077,529 shares of the company were exchanged, compared to its average volume of 2,389,782. The stock has a market capitalization of $13.83 billion, a P/E ratio of 38.52, a PEG ratio of 3.10 and a beta of 0.74. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.59 and a quick ratio of 0.59. American Homes 4 Rent has a 12-month low of $31.36 and a 12-month 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.

American Homes 4 Rent (NYSE:AMH) last issued its quarterly earnings data 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). The company had revenue of $423.50 million for the quarter, compared to analysts’ expectations of $422.46 million. American Homes 4 Rent had a return on equity of 4.91% and a net margin of 21.83%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.41 EPS. On average, research analysts predict that American Homes 4 Rent will post 1.74 earnings per share for the current fiscal year.

American Homes 4 Rent Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given 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%.

Insider Transactions at American Homes 4 Rent

In other American Homes 4 Rent news, Director Douglas N. Benham purchased 3,500 shares of American Homes 4 Rent stock in a transaction that occurred on Wednesday, May 8th. The stock was purchased at an average price of $23.00 per share, for a total transaction 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Jack E. Corrigan acquired 10,000 shares of the business’s stock in a transaction on Monday, May 6th. The stock was bought at an average price of $22.78 per share, for a total transaction of $227,800.00. Following the transaction, the director now owns 10,000 shares in the company, valued at $227,800. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Douglas N. Benham acquired 3,500 shares of the business’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 owns 37,997 shares in the company, valued at approximately $873,931. The disclosure for this purchase can be found here. 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.