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

American Homes 4 Rent (NYSE:AMH) released its quarterly 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 return on equity of 5.02% and a net margin of 22.55%. The company had revenue of $423.56 million for the quarter, compared to the consensus estimate of $421.28 million. During the same quarter last year, the company posted $0.41 EPS. The business’s 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 Trading Down 1.8 %

American Homes 4 Rent stock traded down $0.64 during mid-day trading on Friday, reaching $35.76. 2,358,958 shares of the company traded hands, compared to its average volume of 2,082,600. The firm’s 50 day moving average price is $36.10 and its 200 day moving average price is $35.50. American Homes 4 Rent has a 52-week low of $31.36 and a 52-week 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. The firm has a market capitalization of $13.09 billion, a price-to-earnings ratio of 36.49, a P/E/G ratio of 2.75 and a beta of 0.70.

American Homes 4 Rent Increases Dividend

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

Analysts Set New Price Targets

Several analysts have recently weighed in on AMH shares. Citigroup raised American Homes 4 Rent from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $37.00 to $41.00 in a report on Friday, March 22nd. Mizuho lifted 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 note on Wednesday, March 20th. Deutsche Bank Aktiengesellschaft began coverage on American Homes 4 Rent in a report on Tuesday, January 30th. They set a “buy” rating and a $40.00 price objective for the company. Raymond James boosted their price target on American Homes 4 Rent from $40.00 to $41.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. Finally, StockNews.com cut American Homes 4 Rent from a “hold” rating to a “sell” rating in a research note on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $39.67.

Insider Activity

In other American Homes 4 Rent news, CAO Brian Reitz sold 3,000 shares of the firm’s stock in a transaction dated 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 directly owns 35,343 shares in the company, valued at $1,255,736.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Brian Reitz sold 3,000 shares of the stock in a transaction dated 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 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 hyperlink. Also, COO Bryan Smith sold 50,000 shares of the company’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 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 approximately $4,617,576.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,263 shares of company stock valued at $2,212,078. Corporate insiders own 6.32% of the company’s stock.

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.