AMH stock is uptrending following the earnings and revenueThe income statement provides a summary of a company's revenue and expenses over a specified period of time, typically a year or a quarter. It shows the company's total revenue, th... beats the company reported back on November 4, 2021.
American Homes 4 Rent Reports Third Quarter 2021 Financial and Operating Results
On November 4, 2021, American Homes 4 Rent (NYSE: AMH), a leading provider of high-quality single-family homes for rent, announced its financial and operating results for the quarter ended September 30, 2021. American Homes 4 Rent reported Q3 adjusted FFO of 30c versus the consensus estimate of 34c. The company reported Q3 revenue of $339.6M versus the consensus estimate of $326.72M.
“I am incredibly proud of the American Homes 4 Rent team as we produced another quarter of strong operational execution and increased our full-year 2021 Core FFO per share growth expectations to over 17%,” stated CEO David Singelyn. “We continue to see a long runway of strong demand for single-family rentals driven by our country’s housing shortage and the increasing number of households that desire single-family living but prefer the ease of rental lifestyle. And as we close out 2021, our differentiated strategy has positioned us with a portfolio mix poised for the future of our country’s migration patterns, with a highly efficient operating platform and industry-leading build-to-rent development program. We believe that this will enable American Homes 4 Rent to continue producing industry-leading cash flowThe cash flow statement provides a detailed overview of the cash inflows and outflows of a company over a specified period of time. It includes cash received from operations, inves... growth and shareholder value creation into 2022 and beyond.”
Highlights
- Rents and other single-family property revenues increased 10.3% year-over-year to $339.6 million for the third quarter of 2021.
- Net income attributable to common shareholders totaled $36.9 million, or $0.11 per diluted share, for the third quarter of 2021, compared to $22.6 million, or $0.07 per diluted share, for the third quarter of 2020.
- Core Funds from Operations (“Core FFO”) attributable to common share and unit holders increased 17.8% year-over-year to $0.35 per FFO share and unit for the third quarter of 2021 and Adjusted Funds from Operations (“Adjusted FFO”) attributable to common share and unit holders increased 20.7% year-over-year to $0.30 per FFO share and unit for the third quarter of 2021.
- Core Net Operating Income (“Core NOI”) from Same-Home properties increased by 8.2% year-over-year for the third quarter of 2021.
- Achieved Same-Home Average Occupied Days Percentage of 97.4% in the third quarter of 2021, while generating 15.9% rate growth on new leases.
- Issued $450.0 million of 2.375% unsecured senior notes due 2031 and $300.0 million of 3.375% unsecured senior notes due 2051 during the third quarter of 2021.
- Raised Full Year 2021 Core FFO attributable to common share and unit holders guidance midpoint by $0.04 per share and unit to $1.36, representing anticipated full year growth of 17.2% over prior year.
AMH stock technical analysis
The large players volume is exploding higher and is bullish. The long term trend is positive and the short term trend is neutral. The long term trend gets the benefit of the doubt for now. Although AMH has an excellent technical rating, the quality of the presented setup is not ideal at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first. Click here to sign up for email alerts of when AMH stock is a good entry.
