American Homes 4 Rent (NYSE:AMH) Posts Quarterly Earnings Results, Misses Expectations By $0.13 EPS

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 analysts’ consensus estimates of $0.43 by ($0.13), Yahoo Finance reports. The firm had revenue of $423.56 million for the quarter, compared to analyst estimates of $421.28 million. American Homes 4 Rent had a return on equity of 5.02% and a net margin of 22.55%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.41 EPS. American Homes 4 Rent updated its FY 2024 guidance to 1.700-1.760 EPS.

American Homes 4 Rent Trading Down 1.8 %

Shares of American Homes 4 Rent stock opened at $35.76 on Monday. The stock has a market cap of $13.09 billion, a P/E ratio of 36.49, a P/E/G ratio of 2.75 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’s 50 day moving average is $36.10 and its 200-day moving average is $35.50.

American Homes 4 Rent Increases Dividend

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

Insider Activity at American Homes 4 Rent

In other American Homes 4 Rent news, COO Bryan Smith sold 50,000 shares of the stock in a transaction on Friday, March 8th. The shares were 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 owns 125,580 shares in the company, valued at $4,617,576.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, COO Bryan Smith sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $36.77, for a total transaction of $1,838,500.00. Following the transaction, the chief operating officer now directly owns 125,580 shares of the company’s stock, valued at approximately $4,617,576.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Brian Reitz sold 3,000 shares of the firm’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 approximately $1,255,736.79. The disclosure for this sale can be found here. Over the last three months, insiders sold 60,263 shares of company stock valued at $2,212,078. 6.32% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. BNP Paribas started coverage on American Homes 4 Rent in a report on Monday, January 22nd. They issued an “outperform” rating and a $42.00 price target on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $39.00 target price on shares of American Homes 4 Rent in a research note on Monday, February 26th. Citigroup raised shares of American Homes 4 Rent from a “neutral” rating to a “buy” rating and boosted their price target for the company from $37.00 to $41.00 in a report on Friday, March 22nd. StockNews.com downgraded American Homes 4 Rent from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. Finally, Mizuho raised their target price on shares of American Homes 4 Rent from $37.00 to $39.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock 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.