NVS/iStock via Getty Images Written by Sam Kovacs Introduction: Mr Powell and I usually disagree Mr Powell and I haven't always seen eye for eye. In his latest speech at the Jackson Hole symposium, Mr Powell defended his 2021 call that inflation was transitory, saying: The good ship Transitory was a crowded one, with most mainstream analysts and advanced-economy central bankers on board Maybe the lesson was that most mainstream analysts and the "advanced-economy" --whatever that means-- bankers didn't k ...

8vFanI REIT Performance The REIT sector recovery accelerated in July (+8.33%), expanding upon the gains in May (+2.51%) and June (+1.12%). In July, REITs handily outpaced the broader market, outperforming the Dow Jones Industrial Average (+4.5%), S&P 500 (+1.2%) and NASDAQ (-0.7%). The market cap weighted Vanguard Real Estate Index Fund ETF Shares (VNQ) saw slightly smaller gains than the average REIT in July (+7.94% vs. +8.33%), but it has outperformed year-to-date (+4.48% vs. +3.83%). The spread betwe ...

All investors love getting big returns from their portfolio, whether it's through stocks, bonds, ETFs, or other types of securities. But for income investors, generating consistent cash flow from each of your liquid investments is your primary focus.Cash flow can come from bond interest, interest from other types of investments, and of course, dividends. A dividend is the distribution of a company's earnings paid out to shareholders; it's often viewed by its dividend yield, a metric that measures a dividend ...

HappyBall3692 Real estate investment trusts, or REITs, have experienced a strong rally recently. During the last 30 days, the sector is up by 4.17% (third, behind Utilities and Consumer Staples). During the past 3 months, REITs are up by 7.93% (second, behind only Information Technology). I've been calling for this rally for a while now. For over a year now, I've highlighted beaten down REITs as coiled springs because of the interest rate overhang that would eventually be removed. When that happened, I thou ...

Those holding REITs have seen their portfolios lag behind in recent years, with the sector struggling under the weight of rising interest rates. The current economic climate has been particularly harsh on REITs, which are feeling the strain from increased borrowing costs and a shift in investor preference towards safer fixed-income assets. In particular, with rates still hovering above 5%, REITs face intensifying debt financing costs, squeezing their profit margins while remaining less attractive compared t ...

Financial Data and Key Metrics Changes - The company reported a core FFO per share growth of 8.5% year-over-year, with a new midpoint guidance of $1.76, reflecting a 6% growth for the full year [6][19] - Net income attributable to common shareholders was $92.1 million, or $0.25 per diluted share [14] - Adjusted FFO was $0.39, representing a 9.4% year-over-year growth [14] Business Line Data and Key Metrics Changes - Same-Home core revenue growth was 5.5%, driven by renewal increases of 5.2% and blended spreads of 5.3% [9][10] - Same-Home core NOI growth was 5.9% for the quarter, with an updated full-year guidance increase to 4.5% [10][11] - The company maintained a Same-Home average occupied days of 96.6% [9] Market Data and Key Metrics Changes - The company noted strong demand for rental homes due to a national housing shortage and elevated home prices, which continues to drive the single-family rental market [7] - The Midwest markets showed particularly strong performance, with high-quality homes in good locations attracting in-migration [36] Company Strategy and Development Direction - The company is focused on consistent and predictable growth through disciplined capital allocation and operational execution [6][7] - The development program aims to deliver between 2,200 and 2,400 newly developed homes this year, with a controlled land pipeline of over 11,000 lots [11][12] - The company is strategically positioned to capitalize on the growing demand for high-quality single-family rental housing [7][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strength of housing fundamentals and the company's ability to meet growing demand [6][7] - The CEO transition is reported to be smooth, with a talented team in place to drive future growth [8] - Management remains cautious about potential impacts from new supply in certain markets but believes their product quality will maintain strong occupancy rates [24][25] Other Important Information - The company successfully issued a $500 million unsecured bond with a 5.5% coupon, which will be used to repay existing debt [16][17] - The company has a strong cash position with over $700 million available on the balance sheet [16] Q&A Session Summary Question: July trends and renewal rates - Management reported strong July performance with new lease rate growth of 6.2% and renewals at 5%, with expectations for renewal rates in the high 4% range for the second half of the year [21][22] Question: Impact of new supply in certain regions - Management acknowledged some pressure from new supply in Phoenix but emphasized that their product remains in high demand, with occupancy rates above 97% [24][25] Question: Bad debt expectations - Management expects bad debt to average around 1% for the full year, with strong collection trends observed across the portfolio [27][29] Question: Property tax guidance - Management indicated a positive outlook for property taxes, with a reduction in guidance reflecting favorable assessments in certain states [32][34] Question: Development pipeline concerns - Management expressed confidence in their development strategy, noting that their built-to-rent product is distinct from other new supply and remains in high demand [71][74] Question: Cost of capital considerations - Management discussed the importance of opportunistic capital use, emphasizing that their development program is structured to minimize reliance on equity [78][79] Question: Renewal rate expectations - Management targets a 70% retention rate for renewals, reflecting improvements in their service offerings and market conditions [80][81]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission File Number: 001-36013 (American Homes 4 Rent) Commission File Number: 333-221878-02 (American Homes 4 Rent, L.P.) AMERICAN HOMES ...

For the quarter ended June 2024, American Homes 4 Rent (AMH) reported revenue of $423.49 million, up 7.1% over the same period last year. EPS came in at $0.45, compared to $0.27 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $412.18 million, representing a surprise of +2.74%. The company delivered an EPS surprise of +4.65%, with the consensus EPS estimate being $0.43.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wal ...

American Homes 4 Rent (AMH) came out with quarterly funds from operations (FFO) of $0.45 per share, beating the Zacks Consensus Estimate of $0.43 per share. This compares to FFO of $0.41 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of 4.65%. A quarter ago, it was expected that this real estate company would post FFO of $0.43 per share when it actually produced FFO of $0.43, delivering no surprise.Over the last four quarters, the co ...

Exhibit 99.2 | --- | --- | --- | |----------------------------------|-------|-------| | | | | | | | | | Earnings Release and | | | | | | | | Supplemental Information Package | | | | | | | | | | | | Second Quarter 2024 | | | | | | | | | | | | | | | | | | amh1 | AMH Table of Contents Summary Earnings Press Release 3 Select Non-GAAP Reconciliations – Core Net Operating Income 8 Fact Sheet 10 Financial Information Condensed Consolidated Statements of Operations 11 Funds from Operations 12 Core Net Operating Inc ...