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Jun 30, 2022
American Homes 4 Rent Q2 2022 Earnings Report
American Homes 4 Rent reported strong Q2 2022 financial results, marked by increased revenues, net income, and Core FFO, driven by portfolio growth and higher rental rates.
Key Takeaways
American Homes 4 Rent reported a 15.4% increase in rents and other single-family property revenues, reaching $361.9 million. Net income attributable to common shareholders was $56.6 million, or $0.16 per diluted share. Core FFO increased by 16.0% year-over-year to $0.38 per FFO share and unit. The company delivered 529 newly constructed homes and upgraded its corporate credit rating to BBB by S&P Global Ratings.
Rents and other single-family property revenues increased 15.4% year-over-year to $361.9 million.
Net income attributable to common shareholders totaled $56.6 million, or $0.16 per diluted share.
Core FFO attributable to common share and unit holders increased 16.0% year-over-year to $0.38 per FFO share and unit.
Delivered 529 newly constructed homes from the AMH Development program.
Revenue by Segment
Forward Guidance
The company updated its full year 2022 guidance for Core FFO attributable to common share and unit holders to $1.54 - $1.58 and Same-Home Core NOI growth to 9.25% - 10.75%.
Positive Outlook
- $0.01 incremental Core FFO per share contribution from increased Same-Home core revenues and NOI growth driven by full year leasing performance slightly ahead of prior expectations.
Challenges Ahead
- ($0.01) of Core FFO per share offset from our strategically reduced 2022 investment and capital plan.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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