American Homes 4 Rent Q1 2023 Earnings Report
Key Takeaways
American Homes 4 Rent (AMH) reported an increase in rents and other single-family property revenues by 11.7% year-over-year to $397.7 million for Q1 2023. Net income attributable to common shareholders totaled $117.5 million, or $0.32 per diluted share. The company achieved a Same-Home Average Occupied Days Percentage of 97.2% and delivered 466 newly constructed homes.
Rents and other single-family property revenues increased 11.7% year-over-year to $397.7 million.
Net income attributable to common shareholders totaled $117.5 million, or $0.32 per diluted share.
Core FFO attributable to common share and unit holders increased 8.6% year-over-year to $0.41 per FFO share and unit.
Same-Home Average Occupied Days Percentage reached 97.2% with 7.8% rate growth on new leases.
American Homes 4 Rent
American Homes 4 Rent
American Homes 4 Rent Revenue by Segment
Forward Guidance
Full Year 2023 guidance ranges remain unchanged.
Positive Outlook
- Core FFO attributable to common share and unit holders: $1.58 - $1.64
- Core FFO attributable to common share and unit holders growth: 2.5% - 6.5%
- Same-Home Core revenues growth: 5.00% - 7.00%
- Core property operating expenses growth: 8.75% - 10.75%
- Core NOI growth: 3.00% - 5.00%