Welcome to our dedicated page for American Homes 4 Rent news (Ticker: AMH), a resource for investors and traders seeking the latest updates and insights on American Homes 4 Rent stock.
American Homes 4 Rent reports developments for an internally managed Maryland REIT that owns, operates and develops single-family rental homes. The company focuses on developing, renovating, leasing and managing homes as rental properties, with portfolio activity concentrated across U.S. regions including the Southeast, Midwest, Southwest and Mountain West.
Recurring AMH news includes quarterly and annual operating results, rents and other single-family property revenues, Core FFO, Adjusted FFO, Core NOI, leasing activity and rental-rate trends. Company updates also cover common-share dividends, cumulative redeemable perpetual preferred-share distributions, annual REIT distribution tax treatment, investor presentations and real estate conference participation.
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On August 7, 2020, American Homes 4 Rent (NYSE: AMH) appointed Lynn C. Swann as an independent trustee, expanding its Board to 12 members. This addition is part of the company's strategy to increase board independence and oversight. Since 2019, the Board has added four independent directors, enhancing its expertise. CEO David Singelyn emphasized that Mr. Swann's experience will benefit the company's strategic execution and shareholder returns. The Board plans to appoint another independent trustee later this year, continuing its commitment to diversity and independence.
American Homes 4 Rent (AMH) reported a modest 0.4% increase in total revenues to $283.1 million for Q2 2020. However, net income dropped to $15.4 million from $22.5 million year-over-year, attributed to increased uncollectible rents due to the COVID-19 pandemic. Despite challenges, the company experienced record demand, with an occupancy rate reaching 96.4% in July. Core FFO decreased to $0.27 per share, down from $0.28 in Q2 2019. Strong leasing momentum and a solid balance sheet were noted as key strengths amidst ongoing economic uncertainty.
American Homes 4 Rent (NYSE: AMH) declared a dividend of $0.05 per common share for Q3 2020, payable on September 30 to shareholders of record on September 15. Additionally, the company announced distributions on its cumulative redeemable perpetual preferred shares, including $0.40625 for Series D, $0.39688 for Series E, and $0.39063 for Series H, also payable on September 30. As of March 31, 2020, AMH owned 52,776 single-family properties across 22 states.
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American Homes 4 Rent (NYSE: AMH) will release its second quarter 2020 financial results on August 6, 2020, after market close. A conference call is scheduled for August 7, 2020, at 11:00 a.m. ET for discussing results and a Q&A session. The company, a leader in the single-family rental market, owns 52,776 properties across 22 states as of March 31, 2020. This announcement underscores their ongoing commitment to transparency and investor engagement.