American Homes 4 Rent (NYSE:AMH) Releases Earnings Results, Misses Estimates By $0.13 EPS

American Homes 4 Rent (NYSE:AMH) issued its earnings results on Friday. The real estate investment trust reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.13), Yahoo Finance reports. The company had revenue of $423.56 million for the quarter, compared to analysts’ expectations of $421.28 million. American Homes 4 Rent had a return on equity of 5.02% and a net margin of 22.55%. The business’s revenue was up 6.5% compared to the same quarter last year. During the same period last year, the business posted $0.41 earnings per share. American Homes 4 Rent updated its FY 2024 guidance to 1.700-1.760 EPS.

American Homes 4 Rent Stock Performance

Shares of AMH traded down $0.64 during trading hours on Friday, reaching $35.76. 2,358,958 shares of the company traded hands, compared to its average volume of 2,082,600. The stock has a market capitalization of $13.09 billion, a P/E ratio of 36.49, a P/E/G ratio of 2.80 and a beta of 0.70. 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 has a 12-month low of $31.36 and a 12-month high of $37.97. The business has a fifty day moving average price of $36.10 and a 200-day moving average price of $35.49.

American Homes 4 Rent Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued 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 of this dividend was Thursday, March 14th. American Homes 4 Rent’s payout ratio is currently 106.12%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. BNP Paribas assumed coverage on shares of American Homes 4 Rent in a research report on Monday, January 22nd. They set an “outperform” rating and a $42.00 target price on the stock. Citigroup raised shares of American Homes 4 Rent from a “neutral” rating to a “buy” rating and raised their target price for the stock from $37.00 to $41.00 in a research report on Friday, March 22nd. Royal Bank of Canada reissued an “outperform” rating and set a $39.00 price objective on shares of American Homes 4 Rent in a report on Monday, February 26th. Mizuho lifted their price objective on shares of American Homes 4 Rent from $37.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Finally, StockNews.com lowered shares of American Homes 4 Rent from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $39.67.

Insider Activity

In other news, CAO Brian Reitz sold 3,000 shares of the business’s 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 sale, the chief accounting officer now directly owns 35,343 shares of the company’s stock, valued at $1,255,736.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other American Homes 4 Rent news, CAO Brian Reitz sold 3,000 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $35.53, for a total value of $106,590.00. Following the sale, the chief accounting officer now directly owns 35,343 shares of the company’s stock, valued at $1,255,736.79. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Bryan Smith sold 50,000 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $36.77, for a total transaction of $1,838,500.00. Following the completion of the sale, the chief operating officer now directly owns 125,580 shares in the company, valued at $4,617,576.60. The disclosure for this sale can be found here. Insiders have sold 60,263 shares of company stock valued at $2,212,078 over the last ninety days. 6.32% of the stock is currently owned by insiders.

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.