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

American Homes 4 Rent (NYSE:AMH) announced its quarterly 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 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 quarterly revenue was up 6.5% on a year-over-year basis. During the same period last year, the company 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

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

American Homes 4 Rent Increases Dividend

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

Insiders Place Their Bets

In related news, COO Bryan Smith sold 50,000 shares of the business’s stock in a transaction dated 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 sale, the chief operating officer now directly owns 125,580 shares in the company, valued at approximately $4,617,576.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Matthew J. Hart sold 7,263 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $36.76, for a total value of $266,987.88. Following the completion of the transaction, the director now owns 41,336 shares of the company’s stock, valued at approximately $1,519,511.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 in the company, valued at $4,617,576.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 60,263 shares of company stock worth $2,212,078. 6.32% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Mizuho upped their price objective on shares of American Homes 4 Rent from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. StockNews.com cut shares of American Homes 4 Rent from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. BNP Paribas assumed coverage on American Homes 4 Rent in a research note on Monday, January 22nd. They issued an “outperform” rating and a $42.00 price objective on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of American Homes 4 Rent in a report on Tuesday, January 30th. They issued a “buy” rating and a $40.00 price objective on the stock. Finally, Citigroup raised American Homes 4 Rent from a “neutral” rating to a “buy” rating and increased their target price for the company from $37.00 to $41.00 in a report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.67.

American Homes 4 Rent Company Profile

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.