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

American Homes 4 Rent (NYSE:AMH) announced its quarterly earnings results on Tuesday. The real estate investment trust reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.23), Yahoo Finance reports. The business had revenue of $445.06 million during the quarter, compared to the consensus estimate of $443.81 million. American Homes 4 Rent had a net margin of 21.83% and a return on equity of 4.89%. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period last year, the firm earned $0.41 EPS. American Homes 4 Rent updated its FY 2024 guidance to 1.760-1.780 EPS.

American Homes 4 Rent Stock Performance

Shares of AMH stock opened at $36.72 on Thursday. American Homes 4 Rent has a 52 week low of $32.08 and a 52 week high of $41.41. The company has a market capitalization of $13.45 billion, a price-to-earnings ratio of 37.47, a PEG ratio of 3.10 and a beta of 0.76. The company has a 50-day simple moving average of $38.84 and a 200 day simple moving average of $37.28. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.54 and a current ratio of 1.54.

American Homes 4 Rent Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend was Friday, September 13th. American Homes 4 Rent’s dividend payout ratio is 106.12%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Scotiabank reissued an “outperform” rating and issued a $42.00 target price on shares of American Homes 4 Rent in a research note on Wednesday, August 21st. UBS Group increased their target price on American Homes 4 Rent from $37.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. The Goldman Sachs Group assumed coverage on American Homes 4 Rent in a research report on Wednesday, September 4th. They set a “buy” rating and a $48.00 target price for the company. Evercore ISI lowered their price target on American Homes 4 Rent from $42.00 to $41.00 and set an “in-line” rating on the stock in a research report on Wednesday. Finally, Wells Fargo & Company raised American Homes 4 Rent from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $36.00 to $42.00 in a report on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.60.

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.