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Jun 30
American Homes 4 Rent Q2 2025 Earnings Report
American Homes 4 Rent reported strong second quarter 2025 financial and operating results, with significant increases in revenue and net income, and raised its full-year 2025 Core FFO guidance.
Key Takeaways
American Homes 4 Rent (AMH) delivered a robust second quarter in 2025, with rents and other single-family property revenues increasing by 8.0% year-over-year to $457.5 million. Net income attributable to common shareholders rose to $105.6 million, or $0.28 per diluted share. The company also raised its full-year 2025 Core FFO guidance midpoint to $1.86 per share, reflecting strong leasing performance and favorable property tax information.
Rents and other single-family property revenues increased 8.0% year-over-year to $457.5 million in Q2 2025.
Net income attributable to common shareholders grew to $105.6 million, or $0.28 per diluted share, in Q2 2025, up from $92.1 million, or $0.25 per diluted share, in Q2 2024.
Core Funds from Operations (Core FFO) attributable to common share and unit holders increased 4.9% year-over-year to $0.47 per FFO share and unit.
The company raised its full-year 2025 Core FFO guidance midpoint by $0.03 to $1.86 per share, representing anticipated full-year growth of 5.1% over the prior year.
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
AMH has raised its full-year 2025 Core FFO attributable to common share and unit holders guidance, reflecting anticipated growth driven by improved core revenues and lower property operating expenses.
Positive Outlook
- Raised Core FFO attributable to common share and unit holders guidance midpoint by $0.03 to $1.86 per share and unit.
- Anticipated full-year Core FFO growth of 5.1% over the prior year.
- Increased Core NOI growth from both Same-Home and Non-Same-Home portfolios.
- Better core revenues growth driven by strong year-to-date leasing performance and lower bad debt expense outlook.
- Lowered core property operating expenses growth primarily due to recent favorable property tax information.
- Modestly improved full-year financing cost outlook driven by beneficial refinancing execution.
Challenges Ahead
- No specific negative forward guidance points were explicitly stated in the provided text.
- The company does not provide guidance for GAAP net income due to inability to reasonably predict certain items.
- Acquisition and other transaction costs are unpredictable and can significantly impact GAAP net income.
- Gain on sale and impairment of single-family properties and other, net for consolidated properties and unconsolidated real estate joint ventures are unpredictable.
- Hurricane-related charges, net, are unpredictable and can result in material charges.