AMH Q1 revenue, profit rise on higher rents, gain on property sales
American Homes 4 Rent Class A AMH | 0.00 |
Overview
U.S. single-family rental REIT's Q1 revenue rose 2.8% yr/yr, driven by higher rental rates
Core FFO per share grew 4.6% yr/yr; Adjusted FFO per share up 8% yr/yr
Company repurchased and retired 3.7 mln shares in Q1, 3.2 mln more in April
Outlook
AMH maintains full-year 2026 Core FFO guidance at $1.89-$1.95
Company expects 2026 Same-Home Core revenues growth of 1.25%-3.25%
AMH anticipates 2026 Core NOI growth of 1.00%-3.00%
Result Drivers
HIGHER RENTAL RATES - Co said revenue growth was primarily driven by increased rental rates
EXPENSE MANAGEMENT - Core property operating expenses declined 0.2% yr/yr, reflecting effective cost controls
PROPERTY SALES - Net income increased partly due to higher net gains on property sales
Company press release: ID:nPn8c3ym1a
Key Details
Metric |
Beat/Miss |
Actual |
Consensus Estimate |
Q1 Rents & other single-family property Revenue |
|
$472 mln |
|
Q1 Core Same-Home Revenue |
|
$365.80 mln |
|
Q1 EPS |
|
$0.35 |
|
Q1 Net Income |
|
$127.80 mln |
|
Q1 Core FFO |
|
$200.10 mln |
|
Q1 Adjusted FFO Per Share |
|
$0.45 |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", 11 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the residential reits peer group is "buy"
Wall Street's median 12-month price target for American Homes 4 Rent is $34.00, about 5.3% above its May 5 closing price of $32.28
The stock recently traded at 41 times the next 12-month earnings vs. a P/E of 42 three months ago
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.