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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.
American Homes 4 Rent
American Homes 4 Rent
American Homes 4 Rent Revenue by Segment
Revenue by Segment
Single-family rental Revenue
CapyFin.com 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.