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Dec 31, 2020
American Homes 4 Rent Q4 2020 Earnings Report
American Homes 4 Rent reported Q4 2020 earnings with increased revenues and net income.
Key Takeaways
American Homes 4 Rent reported a 5.4% increase in total revenues to $299.3 million for Q4 2020, driven by growth in the average occupied portfolio and higher rental rates. Net income attributable to common shareholders increased to $27.1 million, or $0.09 per diluted share.
Total revenues increased 5.4% to $299.3 million.
Net income attributable to common shareholders totaled $27.1 million, or $0.09 per diluted share.
Same-Home portfolio Average Occupied Days Percentage of 97.3% achieved.
Rental rate growth on new leases was 7.6%.
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 provided initial 2021 guidance based on its current and expected views of the single-family rental market and general economic conditions.
Positive Outlook
- Full Year 2021 Core FFO attributable to common share and unit holders: $1.22 - $1.28
- Core FFO attributable to common share and unit holders growth: 5.2% - 10.3%
- Same-Home Core revenues growth: 3.25% - 4.75%
- Core property operating expenses growth: 4.00% - 5.50%
- Core NOI growth: 2.75% - 4.25%
Challenges Ahead
- Full year bad debt assumption of 2.5% - 3.0% of rents from single-family properties, which contemplates potential uncertainties associated with ongoing COVID-19 impacts to macro-economic and regulatory environments.
- Comprised of expected property tax growth of 4.0% - 5.0% and all other operating expenses growth, excluding property taxes, of 4.5% - 5.5%.
- The extent to which the pandemic may continue to impact us and our residents will continue to depend on future developments.
- These include resurgences, impact of government regulations, the speed and effectiveness of vaccine distribution and the direct and indirect economic effects of the pandemic and containment measures, among others.
- We will continue to monitor these events which may result in future revisions to our guidance estimates.