Stock Monitor: Cherry Hill Mortgage Investment Post Earnings Reporting
LONDON, UK / ACCESSWIRE / April 6, 2018 / Active-Investors.com has just released a free earnings report on American Homes 4 Rent (NYSE: AMH). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=AMH. American Homes reported its fourth quarter and fiscal 2017 operating and financial results on February 22, 2018. The Agoura Hills-based real estate investment trust (REIT) reported FFO numbers in-line with market estimates. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, American Homes 4 Rent most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
American Homes' total revenues increased 6.7% to $242.8 million for Q4 2017 from $227.6 million for Q4 2016, primarily driven by continued strong acquisition and leasing activity, as the Company's average leased portfolio grew to 46,511 homes for the reported quarter compared to 44,772 homes for the prior year's same quarter. American Homes' revenue numbers were slightly lower by $0.41 million from analysts' estimates.
American Homes' net loss attributable to common shareholders totaled $22.0 million, or $0.08 per share, for Q4 2017 compared to net income attributable to common shareholders of $2.4 million, or $0.01 per share, for Q4 2016. The decline in the reported quarter earnings was primarily attributable to the redemption of the Series A and Series B participating preferred shares through a conversion into Class A common shares.
American Homes' core Funds from Operations (FFO) attributable to common shareholders was $89.4 million, or $0.26 per share, for Q4 2017 compared to $75.9 million, or $0.26 per share, for Q4 2016. The Company's adjusted FFO was $79.8 million, or $0.23 per share unit, for the reported quarter compared to $67.7 million, or $0.23 per share, for the prior year's same quarter. American Homes' FFO numbers met Wall Street's estimates of $0.23 per share.
American Homes' total revenues increased 9.3% to $960.4 million for the year ended December 31, 2017, from $878.9 million for FY16. Revenue growth was primarily driven by continued strong acquisition and leasing activity.
For FY17, American Homes' net loss attributable to common shareholders totaled $22.1 million, or $0.08 per diluted share, compared to a net loss attributable to common shareholders of $33.5 million, or $0.14 per diluted share, for FY16.
American Homes' Core FFO attributable to common shareholders was $327.0 million, or $1.02 per share, for FY17 compared to $282.1 million, or $0.97 unit, for FY16. The Company's adjusted FFO was $287.0 million, or $0.90 per share, for FY17 compared to $242.5 million, or $0.84 per share, for FY16. This improvement was primarily attributable to significant increases in rental revenue driven by a larger number of leased properties and higher rental rates.
During Q4 2017, American Homes' core Net Operating Income (NOI) for its total portfolio increased 5.9% to $136.8 million compared to $129.1 million for Q4 2016, primarily due to growth in rental income resulting from a larger number of leased properties. The Company's core revenues from Same-Home properties increased 2.1% to $159.5 million in the reported quarter compared to $156.2 million for the prior year's same quarter. This growth was driven by a 3.1% increase in average monthly realized rents.
For Q4 2017, American Homes' core NOI margin on Same-Home properties was 64.9% compared to 65.2% for Q4 2016. The Company's Same-Home portfolio leasing percentage increased to 95.7% as of December 31, 2017, from 95.2% as of September 30, 2017, while achieving 3.1% growth in average monthly realized rent per property in the reported quarter on a y-o-y basis.
As of December 31, 2017, American Homes had 46,996 leased properties, an increase of 970 properties from September 30, 2017.
As of December 31, 2017, the Company's total portfolio consisted of 51,239 homes, including 310 homes held for sale, compared to 50,015 homes as of September 30, 2017, including 469 homes held for sale, an increase of 1,224 homes, which included 1,412 homes acquired and 188 homes sold or rescinded.
As of December 31, 2017, American Homes had cash and cash equivalents of $46.2 million and had a total outstanding debt of $2.5 billion, with a weighted-average stated interest rate of 4.07% and a weighted-average term to maturity of 14.4 years. The Company's $800.0 million revolving credit facility and $200.0 million term loan facility had outstanding borrowings of $140.0 million and $200.0 million, respectively, at the end of the year.
During February 2018, American Homes' Board of Trustees authorized the repurchase of up to $300.0 million of the Company's outstanding Class A common shares and up to $250.0 million of its outstanding preferred shares.
Stock Performance Snapshot
April 05, 2018 - At Thursday's closing bell, American Homes 4 Rent's stock slightly fell 0.15%, ending the trading session at $19.83.
Volume traded for the day: 2.84 million shares, which was above the 3-month average volume of 2.23 million shares.
Stock performance in the last month – up 0.71%
After yesterday's close, American Homes 4 Rent's market cap was at $5.60 billion.
The stock has a dividend yield of 1.01%.
The stock is part of the Financial sector, categorized under the REIT - Residential industry. This sector was up 0.6% at the end of the session.
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