American Homes 4 Rent (AMH) Tops Q4 EPS by 5c

February 23, 2017 5:02 PM EST

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American Homes 4 Rent (NYSE: AMH) reported Q4 EPS of $0.01, $0.05 better than the analyst estimate of ($0.04). Revenue for the quarter came in at $227.6 million versus the consensus estimate of $224.48 million.

Highlights

  • Total revenues increased 31.9% to $227.6 million for the fourth quarter of 2016 from $172.6 million for the fourth quarter of 2015.
  • Net income attributable to common shareholders was $2.4 million, and a $0.01 loss per diluted share, for the fourth quarter of 2016, compared to a net loss attributable to common shareholders of $20.5 million, or a $0.10 loss per diluted share, for the fourth quarter of 2015.
  • Core Funds from Operations attributable to common share and unit holders for the fourth quarter of 2016 was $75.9 million, or $0.26 per FFO share and unit, compared to $53.8 million, or $0.21 per FFO share and unit, for the same period in 2015, which represents a 25.1% increase on a per share and unit basis.
  • Adjusted Funds from Operations attributable to common share and unit holders for the fourth quarter of 2016 was $67.7 million, or $0.23 per FFO share and unit, compared to $46.2 million, or $0.18 per FFO share and unit, for the same period in 2015, which represents a 30.0% increase on a per share and unit basis.
  • Increased Core Net Operating Income (\"Core NOI\") margin on Same-Home properties to 64.4% for the fourth quarter of 2016, compared to 61.3% for the same period in 2015.
  • Core NOI after capital expenditures from Same-Home properties increased 11.4% and 12.1% year over year for the quarter and year ended December 31, 2016, respectively.
  • Maintained solid leasing performance with total and Same-Home portfolio leasing percentages of 94.7% and 95.4%, respectively, as of December 31, 2016.
  • Achieved rental rate growth with 2.7% and 3.3% rental rate increases on new and renewal leases, respectively, during the quarter ended December 31, 2016.
  • Authorized $400.0 million "at the market" common share offering program and issued 4.9 million Class A common shares for a total price of $104.0 million.

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



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