Overview

• AMH Q3 rents and single-family property revenue grew 7.5% yr/yr

• Net income for Q3 rose to $99.7 mln, reflecting higher rental rates and portfolio growth

• Company raises full-year 2025 Core FFO guidance midpoint by $0.01 per share

Outlook

• AMH raises full-year 2025 Core FFO guidance midpoint to $1.87 per share

• Company revises 2025 Same-Home Core revenues growth to 3.25%-4.25%

• AMH adjusts 2025 Core property operating expenses growth to 2.75%-3.75%

Result Drivers

• RENTAL RATE INCREASE - Higher rental rates contributed to a 7.5% increase in rents and single-family property revenues

• PORTFOLIO EXPANSION - Growth in average occupied portfolio to 57,689 homes supported revenue increase

• COST MANAGEMENT - Lower than expected property tax expenses and lease expiration management helped control operating costs

Key Details

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 no "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 $40.00, about 18.5% above its October 28 closing price of $32.61

• The stock recently traded at 43 times the next 12-month earnings vs. a P/E of 49 three months ago

Press Release: ID:nPn5csJnDa

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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.)