American Homes 4 Rent (AMH) Tops Q1 FFO by 2c
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American Homes 4 Rent (NYSE: AMH) reported Q1 FFO of $0.23, $0.02 better than the analyst estimate of $0.21. Revenue for the quarter came in at $195.2 million versus the consensus estimate of $187.7 million.
"We are extremely pleased with our first quarter results, during which we made strong progress across our entire platform against our strategic and operational goals," stated David Singelyn, American Homes 4 Rent's Chief Executive Officer. "We achieved another quarter of strong leasing performance, with a Same-Home portfolio leasing percentage of 96.9%, and captured a further acceleration in year over year Same-Home quarterly Core NOI growth to 4.9%. In addition, we closed our acquisition of ARPI and increased our total portfolio sequentially by more than 23%, which we believe will provide us with unparalleled opportunities to capture sector leading efficiencies and operating margins. As we move through the remainder of 2016, we are well-positioned with a substantially stabilized portfolio to maintain strong operating growth and drive superior returns for our shareholders."
For earnings history and earnings-related data on American Homes 4 Rent (AMH) click here.
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