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American Homes 4 Rent

NYSE:AMH.PRE
Snowflake Description

Moderate growth potential with questionable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
AMH.PRE
NYSE
$8B
Imp Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

American Homes 4 Rent (NYSE: AMH) is a leader in the single-family home rental industry and "American Homes 4 Rent" is fast becoming a nationally recognized brand for rental homes, known for high quality, good value and tenant satisfaction. The last earnings update was 19 days ago. More info.


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AMH.PRE Share Price and Events
7 Day Returns
0.5%
NYSE:AMH.PRE
1.2%
US REITs
1.6%
US Market
1 Year Returns
7.3%
NYSE:AMH.PRE
15.2%
US REITs
2.6%
US Market
AMH.PRE Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
American Homes 4 Rent (AMH.PRE) 0.5% 1% 7% 7.3% - -
US REITs 1.2% 2.9% 3.3% 15.2% 13.3% 25.8%
US Market 1.6% -1.7% 2.1% 2.6% 38.5% 41.4%
1 Year Return vs Industry and Market
  • AMH.PRE underperformed the REITs industry which returned 15.2% over the past year.
  • AMH.PRE outperformed the Market in United States of America which returned 2.6% over the past year.
Price Volatility
AMH.PRE
Industry
5yr Volatility vs Market

AMH.PRE Value

 Is American Homes 4 Rent undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of American Homes 4 Rent to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for American Homes 4 Rent.

NYSE:AMH.PRE Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations
Levered Adjusted Funds From Operations Average of 9 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.5%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:AMH.PRE
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.53
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.531 (1 + (1- 21%) (34.85%))
0.784
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.8 * 5.96%)
7.5%

Discounted Cash Flow Calculation for NYSE:AMH.PRE using 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations Model

The calculations below outline how an intrinsic value for American Homes 4 Rent is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

American Homes 4 Rent is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.

NYSE:AMH.PRE DCF 1st Stage: Next 10 year cash flow forecast
Adjusted Funds From Operations (AFFO) (USD, Millions) Source Present Value
Discounted (@ 7.5%)
2019 347.99 Analyst x6 323.72
2020 379.81 Analyst x6 328.68
2021 394.38 Est @ 3.83% 317.47
2022 408.19 Est @ 3.5% 305.68
2023 421.54 Est @ 3.27% 293.66
2024 434.65 Est @ 3.11% 281.67
2025 447.66 Est @ 3% 269.87
2026 460.72 Est @ 2.92% 258.36
2027 473.89 Est @ 2.86% 247.22
2028 487.26 Est @ 2.82% 236.46
Present value of next 10 years cash flows $2,862.77
NYSE:AMH.PRE DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $487.26 × (1 + 2.73%) ÷ (7.5% – 2.73%)
$10,498.35
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $10,498.35 ÷ (1 + 7.5%)10
$5,094.68
NYSE:AMH.PRE Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $2,862.77 + $5,094.68
$7,957.45
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $7,957.45 / 354.53
$24.91
NYSE:AMH.PRE Discount to Share Price
Calculation Result
Value per share (USD) From above. $27.35
Current discount Discount to share price of $26.45
= -1 x ($26.45 - $27.35) / $27.35
3.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price American Homes 4 Rent is available for.
Intrinsic value
3%
Share price is $26.45 vs Future cash flow value of $27.35
Current Discount Checks
For American Homes 4 Rent to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • American Homes 4 Rent's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • American Homes 4 Rent's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for American Homes 4 Rent's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are American Homes 4 Rent's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:AMH.PRE PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $0.11
NYSE:AMH Share Price ** NYSE (2019-05-21) in USD $24.09
United States of America REITs Industry PE Ratio Median Figure of 155 Publicly-Listed REITs Companies 32.75x
United States of America Market PE Ratio Median Figure of 3,087 Publicly-Listed Companies 17.74x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of American Homes 4 Rent.

NYSE:AMH.PRE PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:AMH Share Price ÷ EPS (both in USD)

= 24.09 ÷ 0.11

210.88x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • American Homes 4 Rent is overvalued based on earnings compared to the US REITs industry average.
  • American Homes 4 Rent is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does American Homes 4 Rent's expected growth come at a high price?
Raw Data
NYSE:AMH.PRE PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 210.88x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts
22.7%per year
United States of America REITs Industry PEG Ratio Median Figure of 141 Publicly-Listed REITs Companies 2.58x
United States of America Market PEG Ratio Median Figure of 2,123 Publicly-Listed Companies 1.53x

*Line of best fit is calculated by linear regression .

NYSE:AMH.PRE PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 210.88x ÷ 22.7%

9.3x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • American Homes 4 Rent is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on American Homes 4 Rent's assets?
Raw Data
NYSE:AMH.PRE PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $17.70
NYSE:AMH Share Price * NYSE (2019-05-21) in USD $24.09
United States of America REITs Industry PB Ratio Median Figure of 191 Publicly-Listed REITs Companies 1.89x
United States of America Market PB Ratio Median Figure of 5,202 Publicly-Listed Companies 1.84x
NYSE:AMH.PRE PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:AMH Share Price ÷ Book Value per Share (both in USD)

= 24.09 ÷ 17.70

1.36x

* Primary Listing of American Homes 4 Rent.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • American Homes 4 Rent is good value based on assets compared to the US REITs industry average.
X
Value checks
We assess American Homes 4 Rent's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. American Homes 4 Rent has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

AMH.PRE Future Performance

 How is American Homes 4 Rent expected to perform in the next 1 to 3 years based on estimates from 9 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
22.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is American Homes 4 Rent expected to grow at an attractive rate?
  • American Homes 4 Rent's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • American Homes 4 Rent's earnings growth is expected to exceed the United States of America market average.
  • American Homes 4 Rent's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:AMH.PRE Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:AMH.PRE Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts 22.7%
NYSE:AMH.PRE Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 9 Analysts 4.9%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 5.9%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 4.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.8%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:AMH.PRE Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:AMH.PRE Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 646
2022-12-31 626
2021-12-31 1,245 623 90 3
2020-12-31 1,200 561 70 9
2019-12-31 1,136 528 63 8
NYSE:AMH.PRE Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 1,094 446 34
2018-12-31 1,073 411 23
2018-09-30 1,045 413 -16
2018-06-30 1,012 411 -30
2018-03-31 985 388 -15
2017-12-31 960 386 -22
2017-09-30 945 373 2
2017-06-30 934 342 -20
2017-03-31 918 320 -31
2016-12-31 879 279 -34
2016-09-30 824 311 -56
2016-06-30 760 270 -64

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • American Homes 4 Rent's earnings are expected to grow significantly at over 20% yearly.
  • American Homes 4 Rent's revenue is expected to grow by 4.9% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:AMH.PRE Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below

All data from American Homes 4 Rent Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:AMH.PRE Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.28 0.35 0.17 4.00
2020-12-31 0.25 0.33 0.12 9.00
2019-12-31 0.19 0.27 0.09 9.00
NYSE:AMH.PRE Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 0.11
2018-12-31 0.08
2018-09-30 -0.06
2018-06-30 -0.10
2018-03-31 -0.05
2017-12-31 -0.08
2017-09-30 0.01
2017-06-30 -0.08
2017-03-31 -0.13
2016-12-31 -0.14
2016-09-30 -0.25
2016-06-30 -0.29

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • American Homes 4 Rent is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess American Homes 4 Rent's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
American Homes 4 Rent has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

AMH.PRE Past Performance

  How has American Homes 4 Rent performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare American Homes 4 Rent's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • American Homes 4 Rent has delivered over 20% year on year earnings growth in the past 5 years.
  • American Homes 4 Rent has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • American Homes 4 Rent has become profitable in the last year making it difficult to compare the US REITs industry average.
Earnings and Revenue History
American Homes 4 Rent's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from American Homes 4 Rent Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:AMH.PRE Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 1,094.06 33.85 36.78
2018-12-31 1,072.86 23.39 36.58
2018-09-30 1,045.34 -16.22 36.16
2018-06-30 1,012.12 -29.80 35.42
2018-03-31 984.65 -14.85 34.67
2017-12-31 960.40 -22.14 34.73
2017-09-30 945.16 2.25 35.27
2017-06-30 934.38 -20.44 34.79
2017-03-31 917.68 -30.66 33.79
2016-12-31 878.89 -33.54 33.07
2016-09-30 823.92 -56.41 31.74
2016-06-30 760.47 -63.87 30.70
2016-03-31 693.79 -71.16 29.77
2015-12-31 630.58 -84.58 26.87
2015-09-30 574.89 -83.42 27.41
2015-06-30 512.67 -76.55 26.45
2015-03-31 453.34 -71.10 25.75
2014-12-31 398.87 -66.99 24.53
2014-09-30 346.87 -62.19 22.10
2014-06-30 285.94 -48.10 18.96
2014-03-31 209.75 -50.84 17.34
2013-12-31 139.03 -44.94 16.28
2013-09-30 77.42 -36.25 16.39
2013-06-30 28.94 -31.26 15.79
2013-03-31 11.00 -17.85 12.58
2012-12-31 4.54 -10.24 8.21

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • American Homes 4 Rent has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • American Homes 4 Rent used its assets less efficiently than the US REITs industry average last year based on Return on Assets.
  • American Homes 4 Rent has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess American Homes 4 Rent's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
American Homes 4 Rent has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

AMH.PRE Health

 How is American Homes 4 Rent's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up American Homes 4 Rent's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • American Homes 4 Rent is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • American Homes 4 Rent's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of American Homes 4 Rent's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from American Homes 4 Rent Company Filings, last reported 1 month ago.

NYSE:AMH.PRE Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 5,975.37 2,943.93 154.58
2018-12-31 5,973.74 2,803.54 30.28
2018-09-30 5,989.00 2,671.70 110.14
2018-06-30 5,868.76 2,674.38 53.50
2018-03-31 5,868.91 2,824.86 203.88
2017-12-31 5,905.29 2,475.89 46.16
2017-09-30 5,906.90 2,339.24 243.55
2017-06-30 5,488.61 2,434.70 67.33
2017-03-31 5,346.82 2,944.10 495.80
2016-12-31 5,007.43 2,922.57 118.80
2016-09-30 4,918.61 2,926.82 106.31
2016-06-30 4,942.59 3,094.51 270.37
2016-03-31 4,503.36 3,393.41 71.44
2015-12-31 3,998.02 2,524.40 57.69
2015-09-30 4,075.39 2,587.17 238.42
2015-06-30 4,167.12 2,291.86 90.66
2015-03-31 4,197.53 2,164.81 115.69
2014-12-31 4,227.55 1,778.03 108.79
2014-09-30 4,248.98 1,075.06 103.99
2014-06-30 3,821.87 961.97 239.11
2014-03-31 3,663.96 671.00 103.25
2013-12-31 3,678.81 375.00 148.99
2013-09-30 3,489.29 238.00 158.07
2013-06-30 2,651.34 670.00 251.41
2013-03-31 1,628.46 0.00 519.41
2012-12-31 905.16 0.00 397.20
  • American Homes 4 Rent's level of debt (49.3%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (18.4% vs 49.3% today).
  • Debt is not well covered by operating cash flow (15.2%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 1.9x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess American Homes 4 Rent's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. American Homes 4 Rent has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

AMH.PRE Dividends

 What is American Homes 4 Rent's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0.83%
Current annual income from American Homes 4 Rent dividends. Estimated to be 0.92% next year.
If you bought $2,000 of American Homes 4 Rent shares you are expected to receive $17 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • American Homes 4 Rent's pays a lower dividend yield than the bottom 25% of dividend payers in United States of America (1.46%).
  • American Homes 4 Rent's dividend is below the markets top 25% of dividend payers in United States of America (3.72%).
Upcoming dividend payment

Purchase American Homes 4 Rent before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:AMH.PRE Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 184 Stocks 3.8%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2003 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:AMH.PRE Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.25 5.00
2020-12-31 0.22 10.00
2019-12-31 0.20 10.00
NYSE:AMH.PRE Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-05-09 0.200 0.838
2019-02-21 0.200 0.875
2018-11-06 0.200 0.960
2018-08-10 0.200 0.918
2018-05-03 0.200 0.935
2018-02-22 0.200 1.014
2017-11-03 0.200 0.955
2017-11-02 0.200 0.930
2017-05-04 0.200 0.898
2017-02-23 0.200 0.863
2016-11-01 0.200 0.943
2016-08-02 0.200 0.930
2016-05-03 0.200 1.053
2016-02-25 0.200 1.285
2015-11-05 0.200 1.293
2015-08-06 0.200 1.237
2015-05-07 0.200 1.210
2015-02-27 0.200 1.195
2014-11-03 0.200 1.174
2014-08-04 0.200 1.150
2014-05-09 0.200 1.119
2014-03-14 0.200 1.220
2013-11-07 0.200 1.210

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • American Homes 4 Rent is not paying a notable dividend for United States of America, therefore no need to check if the payments are stable.
  • American Homes 4 Rent is not paying a notable dividend for United States of America, therefore no need to check if the payments are increasing.
Current Payout to shareholders
What portion of American Homes 4 Rent's earnings are paid to the shareholders as a dividend.
  • No need to calculate the sustainability of American Homes 4 Rent's dividends as it is not paying a notable one for United States of America.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess American Homes 4 Rent's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can American Homes 4 Rent afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. American Homes 4 Rent has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

AMH.PRE Management

 What is the CEO of American Homes 4 Rent's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
David Singelyn
COMPENSATION $473,000
AGE 57
TENURE AS CEO 6.6 years
CEO Bio

Mr. David P. Singelyn, CPA, has been the Chief Executive Officer and Trustee of American Homes 4 Rent since October 2012. Mr. Singelyn has been the Chief Executive Officer and Trustee of American Homes 4 Rent, a General Partner of American Homes 4 Rent, L.P. since October 2012. He serves as Chief Executive Officer at American Homes 4 Rent Properties LLC. He served as the Interim Chief Financial Officer from April 28, 2014 to May 18, 2014 and also served as its Principal Accounting Officer at American Homes 4 Rent. Mr. Singelyn is the Co-founder of AH LLC in June 2011. He served as a Vice President and Controller at Storage Properties, Inc. since 1991. Mr. Singelyn served as a Vice President and Chief Financial Officer at Public Storage Canadian Properties Inc. He served as a Vice President and Treasurer from 1989 through 2003 at Public Storage Inc. and Controller at Public Storage Properties REITs Since November 1995. Mr. Singelyn was employed by Old PSI from 1989 to November 1995. He started his career at Arthur Young and Company (now a part of Ernst & Young LLP). From 1987 to 1989, he served as a Controller at Winchell's Donut Houses LP. Mr. Singelyn has been the President and Chairman of Canadian Mini-Warehouse Properties Company since May 2003. In 2010, Mr. Singelyn facilitated the restructuring of the ownership entity that was traded on the Toronto stock exchange resulting in the company “going private. In 2005, Mr. Singelyn, along with Mr. Hughes, founded American Commercial Equities (“ACE”), a private real estate company specializing in the acquisition and management of retail property, and serves as a co-manager of ACE. Mr. Singelyn is also a director of the William Lawrence and Blanche Hughes Foundation, a non-profit organization dedicated to research of pediatric cancer. From 2003 through April 2013, he served as the President and Chairman of Public Storage Canada. Mr. Singelyn is a veteran of real estate ownership management and leasing business with several years of executive management experience. He has been a Trustee of American Homes 4 Rent, LLC Mr. Singelyn is a Certified Public Accountant. He holds Bachelor of Science degrees in Accounting and Computer Information Systems from California State Polytechnic University in Pomona.

CEO Compensation
  • David's compensation has increased in line with American Homes 4 Rent recently becoming profitable.
  • David's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the American Homes 4 Rent management team in years:

6.6
Average Tenure
56.5
Average Age
  • The average tenure for the American Homes 4 Rent management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Tamara Gustavson

TITLE
Chairman
COMPENSATION
$105K
AGE
56

David Singelyn

TITLE
CEO & Trustee
COMPENSATION
$473K
AGE
57
TENURE
6.6 yrs

B. Hughes

TITLE
AGE
84

Chris Lau

TITLE
Chief Financial Officer
COMPENSATION
$1M
AGE
36
TENURE
0.8 yrs

Jack Corrigan

TITLE
COO, Chief Investment Officer & Trustee
COMPENSATION
$442K
AGE
58
TENURE
6.6 yrs

Sara Vogt-Lowell

TITLE
Chief Legal Officer & Secretary
COMPENSATION
$880K
AGE
43
TENURE
6.6 yrs

Bryan Smith

TITLE
Executive VP & President of Property Management
COMPENSATION
$1M
AGE
44
TENURE
8.3 yrs

Stephanie Heim

TITLE
Executive VP of Counsel & Assistant Secretary
COMPENSATION
$880K
AGE
63
TENURE
6.3 yrs

Ray Huning

TITLE
Executive Vice President of Corporate Tax
TENURE
5.9 yrs

Richard Wolf

TITLE
Senior Vice President of Acquisitions & Development
Board of Directors Tenure

Average tenure and age of the American Homes 4 Rent board of directors in years:

6.5
Average Tenure
63
Average Age
  • The tenure for the American Homes 4 Rent board of directors is about average.
Board of Directors

Tamara Gustavson

TITLE
Chairman
COMPENSATION
$105K
AGE
56

David Singelyn

TITLE
CEO & Trustee
COMPENSATION
$473K
AGE
57
TENURE
6.6 yrs

Jack Corrigan

TITLE
COO, Chief Investment Officer & Trustee
COMPENSATION
$442K
AGE
58
TENURE
6.6 yrs

Jim Kropp

TITLE
COMPENSATION
$115K
AGE
69
TENURE
6.5 yrs

Ken Woolley

TITLE
COMPENSATION
$113K
AGE
72
TENURE
6.5 yrs

Matt Hart

TITLE
Independent Presiding Trustee
COMPENSATION
$105K
AGE
66

David Goldberg

TITLE
COMPENSATION
$715K
AGE
68

J. Lynch

TITLE
Advisory Board Member
AGE
65

Doug Benham

TITLE
COMPENSATION
$105K
AGE
61
TENURE
3.2 yrs

Wendy Webb

TITLE
Independent Trustee
AGE
60
TENURE
0.3 yrs
Who owns this company?
Recent Insider Trading
  • American Homes 4 Rent insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
19. Mar 19 Sell Stephanie Heim Individual 18. Mar 19 18. Mar 19 -5,000 $25.50 $-127,500
02. Jan 19 Sell Douglas Benham Individual 28. Dec 18 28. Dec 18 -8,000 $21.72 $-173,760
12. Oct 18 Buy DNB Advisors LLC Company 10. Oct 18 10. Oct 18 1,000 $23.46 $23,460
X
Management checks
We assess American Homes 4 Rent's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. American Homes 4 Rent has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

AMH.PRE News

Simply Wall St News

AMH.PRE Company Info

Description

American Homes 4 Rent (NYSE: AMH) is a leader in the single-family home rental industry and "American Homes 4 Rent" is fast becoming a nationally recognized brand for rental homes, known for high quality, good value and tenant satisfaction. We are an internally managed Maryland real estate investment trust, or REIT, focused on acquiring, developing, renovating, leasing, and operating attractive, single-family homes as rental properties. As of March 31, 2019, we owned 52,923 single-family properties in selected submarkets in 22 states.

Details
Name: American Homes 4 Rent
AMH.PRE
Exchange: NYSE
Founded: 2012
$8,448,548,151
$7,220,189,684
354,534,123
Website: http://www.americanhomes4rent.com
Address: American Homes 4 Rent
30601 Agoura Road,
Suite 200,
Agoura Hills,
California, 91301,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE AMH Class A Common Shares New York Stock Exchange US USD 01. Aug 2013
DB A4XA Class A Common Shares Deutsche Boerse AG DE EUR 01. Aug 2013
LSE 0HEJ Class A Common Shares London Stock Exchange GB USD 01. Aug 2013
NYSE AMH.PRD RED PFD SER D New York Stock Exchange US USD 18. May 2016
NYSE AMH.PRE PFD CUM RED E New York Stock Exchange US USD 22. Jun 2016
NYSE AMH.PRF CM RED PFD SHS F New York Stock Exchange US USD 20. Apr 2017
NYSE AMH.PRG 5.875% CUM PFD G New York Stock Exchange US USD 11. Jul 2017
NYSE AMH.PRH 6.25% CUM PFD H New York Stock Exchange US USD 13. Sep 2018
Number of employees
Current staff
Staff numbers
1,234
American Homes 4 Rent employees.
Industry
Residential REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/22 06:56
End of day share price update: 2019/05/21 00:00
Last estimates confirmation: 2019/05/20
Last earnings filing: 2019/05/03
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.