American Homes 4 Rent (AMH) Misses Q1 FFO by 1c

May 6, 2014 5:58 AM EDT

American Homes 4 Rent (NYSE: AMH) reported Q1 FFO of $0.12, $0.01 worse than the analyst estimate of $0.13. Revenue for the quarter came in at $77.3 million versus the consensus estimate of $77.74 million.

Portfolio

As of March 31, 2014, the Company had 20,666 leased properties, an increase of 3,338 properties from December 31, 2013. At March 31, 2014, our occupancy rate for our portfolio of properties that have been rent-ready for more than 90 days was 95.1%, compared to 94.5% at December 31, 2013. Subsequent to quarter-end, our total leased portfolio increased by an additional 1,307 properties, increasing our total portfolio occupancy to approximately 84.5% at April 30, 2014.

Investments

In the first quarter of 2014, the company acquired 2,237 homes, increasing our total portfolio to 25,505 homes as of March 31, 2014, representing 9.6% increase over our portfolio of 23,268 homes as of December 31, 2013. Subsequent to quarter-end, we acquired an additional 513 properties through April 30, 2014.

For earnings history and earnings-related data on American Homes 4 Rent (AMH) click here.



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