American Homes 4 Rent (NYSE:AMH) Updates FY 2024 Earnings Guidance

American Homes 4 Rent (NYSE:AMH) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 1.740-1.780 for the period, compared to the consensus earnings per share estimate of 1.740. The company issued revenue guidance of -. American Homes 4 Rent also updated its FY24 guidance to $1.74-1.78 EPS.

American Homes 4 Rent Stock Performance

AMH traded up $0.91 during trading on Friday, hitting $37.75. 4,077,529 shares of the stock were exchanged, compared to its average volume of 2,389,782. The firm has a market capitalization of $13.83 billion, a P/E ratio of 38.52, a PEG ratio of 3.10 and a beta of 0.74. American Homes 4 Rent has a 1-year low of $31.36 and a 1-year high of $38.85. The stock has a fifty day moving average price of $36.28 and a two-hundred day moving average price of $35.97. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.58.

American Homes 4 Rent (NYSE:AMH) last released its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.25 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.18). The firm had revenue of $423.50 million for the quarter, compared to analyst estimates of $422.46 million. American Homes 4 Rent had a return on equity of 4.91% and a net margin of 21.83%. The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the firm earned $0.41 EPS. As a group, sell-side analysts predict that American Homes 4 Rent will post 1.74 earnings per share for the current year.

American Homes 4 Rent Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.75%. The ex-dividend date was Friday, June 14th. American Homes 4 Rent’s dividend payout ratio (DPR) is 106.12%.

Analyst Ratings Changes

AMH has been the topic of a number of recent research reports. Scotiabank boosted their target price on American Homes 4 Rent from $39.00 to $41.00 and gave the company a sector outperform rating in a report on Thursday, May 16th. JPMorgan Chase & Co. boosted their target price on American Homes 4 Rent from $37.00 to $38.00 and gave the company a neutral rating in a report on Monday, June 17th. Keefe, Bruyette & Woods boosted their target price on American Homes 4 Rent from $38.00 to $39.00 and gave the company a market perform rating in a report on Monday, May 13th. Evercore ISI boosted their target price on American Homes 4 Rent from $38.00 to $39.00 and gave the company an in-line rating in a report on Tuesday, July 9th. Finally, StockNews.com lowered American Homes 4 Rent from a hold rating to a sell rating in a report on Friday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $39.57.

Insider Activity at American Homes 4 Rent

In other news, Director Jack E. Corrigan bought 10,000 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were bought at an average cost of $22.78 per share, for a total transaction of $227,800.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at $227,800. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Jack E. Corrigan bought 10,000 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were bought at an average cost of $22.78 per share, for a total transaction of $227,800.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at $227,800. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Douglas N. Benham acquired 3,500 shares of American Homes 4 Rent stock in a transaction dated Wednesday, May 8th. The stock was bought at an average price of $23.00 per share, for a total transaction of $80,500.00. Following the completion of the transaction, the director now directly owns 37,997 shares of the company’s stock, valued at $873,931. The disclosure for this purchase can be found here. Company 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.