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Dec 31, 2019
American Homes 4 Rent Q4 2019 Earnings Report
American Homes 4 Rent reported a revenue increase driven by strong leasing activity and higher rental rates. Net income also increased due to higher revenues, offset by higher expenses.
Key Takeaways
American Homes 4 Rent reported a 5.1% increase in total revenues to $284.0 million for Q4 2019, driven by strong leasing activity and higher rental rates. Net income attributable to common shareholders totaled $23.6 million, or $0.08 per diluted share. The company entered into a strategic joint venture with institutional investors advised by J.P. Morgan Asset Management focused on constructing and operating newly built rental homes.
Total revenues increased 5.1% to $284.0 million.
Net income attributable to common shareholders totaled $23.6 million, or $0.08 per diluted share.
Core FFO attributable to common share and unit holders was $101.4 million, or $0.29 per FFO share and unit.
Adjusted FFO attributable to common share and unit holders was $91.2 million, or $0.26 per FFO share and unit.
Revenue by Segment
Forward Guidance
The company provided guidance for the full year 2020.
Positive Outlook
- Core FFO attributable to common share and unit holders $1.17 - $1.21
- Same-Home Core revenues growth 3.2% - 4.2%
- Core property operating expenses growth 4.0% - 5.0%
- Comprised of expected property tax growth of 4.8% - 5.8%
- Core NOI growth 2.8% - 3.8%
Historical Earnings Impact
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Avg. Return Before/After Earnings
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