AMH Q1 revenue, profit rise on higher rents, gain on property sales

American Homes 4 Rent

06/05/2026 22:07

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.

(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.)