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

American Homes 4 Rent (NYSE:AMH) posted its quarterly earnings data 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 firm had revenue of $423.56 million during the quarter, compared to analysts’ expectations of $421.28 million. During the same quarter in the prior year, the firm posted $0.41 EPS. American Homes 4 Rent’s quarterly revenue was up 6.5% compared to the same quarter last year. American Homes 4 Rent updated its FY 2024 guidance to 1.700-1.760 EPS.

American Homes 4 Rent Stock Down 1.8 %

NYSE:AMH traded down $0.64 during midday trading on Friday, hitting $35.76. 2,358,958 shares of the company were exchanged, compared to its average volume of 2,082,600. American Homes 4 Rent has a fifty-two week low of $31.36 and a fifty-two week high of $37.97. The company has a market capitalization of $13.09 billion, a PE ratio of 36.49, a price-to-earnings-growth ratio of 2.75 and a beta of 0.70. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.58. The company has a fifty day simple moving average of $36.10 and a 200 day simple moving average of $35.50.

American Homes 4 Rent Increases Dividend

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

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. 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 price target on the stock. StockNews.com downgraded shares of American Homes 4 Rent from a “hold” rating to a “sell” rating in a research note on Wednesday, March 20th. Royal Bank of Canada reiterated an “outperform” rating and issued a $39.00 price objective on shares of American Homes 4 Rent in a research note on Monday, February 26th. Raymond James boosted their target price on American Homes 4 Rent from $40.00 to $41.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. Finally, Citigroup raised American Homes 4 Rent from a “neutral” rating to a “buy” rating and increased their price target for the company from $37.00 to $41.00 in a research report on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $39.67.

Insider Buying and Selling at American Homes 4 Rent

In other news, Director Matthew J. Hart sold 7,263 shares of American Homes 4 Rent stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $36.76, for a total transaction of $266,987.88. Following the sale, the director now owns 41,336 shares in the company, valued at $1,519,511.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related 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 completion of the sale, 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 legal filing with the SEC, which can be accessed through the SEC website. Also, Director Matthew J. Hart sold 7,263 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $36.76, for a total transaction of $266,987.88. Following the transaction, the director now directly owns 41,336 shares in the company, valued at $1,519,511.36. The disclosure for this sale can be found here. Insiders sold 60,263 shares of company stock worth $2,212,078 over the last 90 days. Corporate insiders own 6.32% of the company’s stock.

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.