American Homes 4 Rent (AMH) reported quarterly earnings results on Thursday, Aug-4-2016. The company said it had a profit of $0.25 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.23. The company posted revenue of $221.00 million in the period, compared to analysts expectations of $218.24 million. The company’s revenue was up 43.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.17 EPS.
Many Wall Street Analysts have commented on American Homes 4 Rent. Company shares were Reiterated by FBR Capital on Jun 23, 2016 to “Outperform”, Firm has raised the Price Target to $ 22 from a previous price target of $20 .
American Homes 4 Rent closed down -0.16 points or -0.74% at $21.57 with 11,73,569 shares getting traded on Tusday. Post opening the session at $21.63, the shares hit an intraday low of $21.55 and an intraday high of $21.769 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.
In a different news, on Jul 5, 2016, Douglas N Benham (director) purchased 8,000 shares at $25.20 per share price. According to the SEC, on Jul 5, 2016, David P. Singelyn (CEO) purchased 10,000 shares at $25.23 per share price. On Jun 17, 2016, Jack E Corrigan (Chief Operating Officer) sold 1,500 shares at $26.52 per share price, according to the Form-4 filing with the securities and exchange commission.
American Homes 4 Rent is an internally managed real estate investment trust (REIT). The Company focuses on acquiring renovating leasing and operating single-family homes as rental properties. The Company has an integrated operating platform that consists of personnel engaged in property management acquisitions construction marketing leasing financial and administrative functions. As of December 31 2014 the Company’s entire portfolio of single-family properties was internally managed through its property management platform. The Company’s single-family properties include Dallas-Fort Worth Texas; Indianapolis Indiana; Atlanta Georgia; Charlotte North Carolina; Greater Chicago area Illinois and Indiana; Cincinnati Ohio; Houston Texas; Tampa Florida; Phoenix Arizona and Jacksonville Florida among others.