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

American Homes 4 Rent (NYSE:AMH) announced its quarterly earnings data on Friday. The real estate investment trust reported $0.30 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 during 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%. American Homes 4 Rent’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.41 earnings per share. 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 traded down $0.64 on Friday, hitting $35.76. 2,358,958 shares of the company’s stock were exchanged, compared to its average volume of 2,082,600. 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 has a market cap of $13.09 billion, a P/E ratio of 36.49, a price-to-earnings-growth ratio of 2.80 and a beta of 0.70. American Homes 4 Rent has a 12 month low of $31.36 and a 12 month high of $37.97. The company has a 50 day moving average of $36.10 and a 200 day moving average of $35.49.

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 given a dividend of $0.26 per share. This is an increase 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%. The ex-dividend date of this dividend was Thursday, March 14th. American Homes 4 Rent’s dividend payout ratio is currently 106.12%.

Insider Buying and Selling at American Homes 4 Rent

In other American Homes 4 Rent news, COO Bryan Smith sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $36.77, for a total transaction of $1,838,500.00. Following the completion of the transaction, the chief operating officer now owns 125,580 shares in the company, valued at approximately $4,617,576.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other American Homes 4 Rent news, 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 completion of the sale, the chief accounting officer now directly owns 35,343 shares in the company, valued at $1,255,736.79. The transaction 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 stock in a transaction dated 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 in the company, valued at approximately $4,617,576.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 60,263 shares of company stock worth $2,212,078. 6.32% of the stock is currently owned by insiders.

Analysts Set New Price Targets

AMH has been the topic of several research reports. BNP Paribas initiated coverage on American Homes 4 Rent in a research note on Monday, January 22nd. They issued an “outperform” rating and a $42.00 target price on the stock. Royal Bank of Canada restated 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. StockNews.com cut American Homes 4 Rent from a “hold” rating to a “sell” rating in a research note on Wednesday, March 20th. Mizuho upped their price objective on 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. Finally, Citigroup upgraded American Homes 4 Rent from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $37.00 to $41.00 in a research note on Friday, March 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, 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.