earnings
confidence high
sentiment positive
materiality 0.75
AMH Q3 revenue +5.5%, acquires 1,700 SFR homes for $480M, raises FY Core FFO midpoint
American Homes 4 Rent
2024-Q3 EPS reported
$0.75
- Q3 net income $73.8M ($0.20 diluted EPS); Core FFO per share $0.44, up 6.3% YoY.
- Acquired portfolio of ~1,700 single-family rental homes in October for ~$480M across 13 markets.
- Same-Home Core NOI increased 5.4% YoY; blended rate growth 5.2%.
- Raised FY 2024 Core FFO guidance midpoint to $1.77 per share/unit (growth 6.6% YoY).
- Hurricane charges: Q3 $3.9M; Q4 expected $3-4M from Milton.