AMH Q2 revenue rises 2.8% on higher rental rates, lifts 2026 outlook
AMH Q2 revenue rises 2.8% on higher rental rates, lifts 2026 outlook
Overview
U.S. single-family rental REIT's Q2 revenue rose 2.8% yr/yr, driven by higher rental rates
Core FFO per share grew 5.2% yr/yr to $0.49, aided by expense controls and share repurchases
Company repurchased $123 mln of shares and raised full-year Core FFO guidance midpoint
Outlook
AMH raises full-year 2026 Core FFO guidance to $1.93-$1.97 per share
Company expects Same-Home Core revenues growth of 1.5%-3.0% for 2026
AMH anticipates Core NOI growth of 1.4%-3.4% for full-year 2026
Result Drivers
RENTAL RATE INCREASES - Revenue and Core NOI growth were primarily driven by higher rental rates
EXPENSE CONTROLS - Core NOI benefited from a decrease in core property operating expenses and strong cost control execution
PORTFOLIO EXPANSION - Delivery of newly constructed homes through the AMH Development Program contributed to portfolio growth
Company press release: ID:nPn9JQVTqa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Rents & other single-family property Revenue |
| $470.10 mln |
|
Q2 Core Same-Home Revenue |
| $371.30 mln |
|
Q2 EPS |
| $0.31 |
|
Q2 Net Income |
| $113.60 mln |
|
Q2 Core FFO |
| $202.80 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy", 10 "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 $36.00, about 6.8% above its July 29 closing price of $33.71
The stock recently traded at 42 times the next 12-month earnings vs. a P/E of 35 three months ago
Reuters Recommended Reads
July 29 - Invitation Homes beats quarterly revenue estimates on high renewal rates; lifts annual FFO forecast
July 27 - Sun Communities Q2 core FFO rises, lifts NOI outlook
July 28 - US single-family home prices increase in May, FHFA says
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)