American Homes 4 Rent (NYSE:AMH) Issues Quarterly Earnings Results

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

American Homes 4 Rent Price Performance

Shares of AMH stock opened at $35.76 on Monday. The company has a market cap of $13.09 billion, a P/E ratio of 36.49, a PEG ratio of 2.75 and a beta of 0.70. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.46 and a quick ratio of 0.46. The stock’s 50-day moving average is $36.10 and its 200 day moving average is $35.50. American Homes 4 Rent has a 1-year low of $31.36 and a 1-year high of $37.97.

American Homes 4 Rent Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a dividend of $0.26 per share. This is a boost from American Homes 4 Rent’s previous quarterly dividend of $0.22. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend was Thursday, March 14th. American Homes 4 Rent’s dividend payout ratio is 106.12%.

Insiders Place Their Bets

In related news, CAO Brian Reitz sold 3,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now owns 35,343 shares in the company, valued at approximately $1,255,736.79. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CAO Brian Reitz sold 3,000 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $35.53, for a total transaction of $106,590.00. Following the transaction, the chief accounting officer now directly owns 35,343 shares in the company, valued at approximately $1,255,736.79. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Bryan Smith sold 50,000 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $36.77, for a total value of $1,838,500.00. Following the completion of the sale, the chief operating officer now directly owns 125,580 shares of the company’s stock, valued at approximately $4,617,576.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,263 shares of company stock worth $2,212,078. 6.32% of the stock is owned by corporate insiders.

Analyst Ratings Changes

AMH has been the subject of a number of recent analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $39.00 price objective on shares of American Homes 4 Rent in a report on Monday, February 26th. Citigroup upgraded shares of American Homes 4 Rent from a “neutral” rating to a “buy” rating and upped their price target for the stock from $37.00 to $41.00 in a report on Friday, March 22nd. Mizuho raised their price target on shares of American Homes 4 Rent from $37.00 to $39.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. StockNews.com cut shares of American Homes 4 Rent from a “hold” rating to a “sell” rating in a research report on Wednesday, March 20th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of American Homes 4 Rent in a research report on Tuesday, January 30th. They set a “buy” rating and a $40.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $39.67.

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.