American Homes 4 Rent (AMH) SEC Filings & Earnings Calls
EquiReason read 18 American Homes 4 Rent SEC filings in the last 12 months. Latest: SC 13D/A on 2026-09-11 — Schedule 13D/A: HUGHES B WAYNE ET AL 5.98%.
Source: SEC EDGAR filings · figures as of 2026-06-30 · read by EquiReason
- Market cap
- 11.5B
- P/E TTM
- 25.3
- Dividend yield
- 3.9%
- 52-week
- —
- Next earnings
- 4 Nov, in 11 days
Every filing, read
last 12 months · SECWhat happened, the numbers inside, guidance and risks. The original is one click away.
9 Sep 20268-K · 7.01AMH provided FY2026 guidance: Core FFO per share $1.93-$1.97 (midpoint $1.95, growth 3.2%), Same-Home Core Revenues growth 2.25% at midpoint. Aug QTD blended spreads 2.7%, occupancy 96.0%.open
Figures in the filing · each found in the filing text
| Core FFO per share and unit · FY2026 | $1.95 | +3% y/y |
| Same-Home Core Revenues growth · FY2026 | 2.3% | |
| Blended lease spreads · Aug QTD 2026 | 2.7% | |
| Same Home Average Occupied Days · Aug QTD 2026 | 96.0% | |
| Properties owned · 2026-06-30 | 61,000 |
Guidance
FY2026 Core FFO per share $1.93-$1.97 (midpoint $1.95, growth 3.2%); Same-Home Core Revenues growth 2.25% at midpoint
Guidance reaffirmed with positive tone; Core FFO growth and stable occupancy indicate healthy operations.
Risks flagged
Regulatory risk from 21st Century ROAD to Housing Act restricts MLS acquisitions for large institutional investors.
“21st Century ROAD to Housing Act ... Restricts LII MLS Acquisitions Subject to Statutory Exceptions”
31 Jul 202610-QAMH reported Q2 2026 results with revenue growth of 2.8% YoY, net income increase to $132.9M, and same-home rent growth of 2.6%.earningsopen
Figures in the filing · each found in the filing text
| Rents and other single-family property revenues · Q2-2026 | $470M | +3% y/y |
| Net income · Q2-2026 | $133M | +8% y/y |
| Same-Home Core NOI · Same-Home · Q2-2026 | $246M | +3% y/y |
| Average Monthly Realized Rent per property (Same-Home) · Same-Home · Q2-2026 | $2346.00 | +3% y/y |
| Average Occupied Days Percentage (Same-Home) · Same-Home · Q2-2026 | 96.0% | |
| Core NOI · Q2-2026 | $275M | +4% y/y |
| FFO attributable to common share and unit holders · Q2-2026 | $194M | +1% y/y |
| Core FFO attributable to common share and unit holders · Q2-2026 | $203M | +2% y/y |
| Adjusted FFO attributable to common share and unit holders · Q2-2026 | $186M | +5% y/y |
| Properties developed and delivered to operating portfolio (AMH Development Program) · Development · Q2-2026 | 542 |
Risks flagged
Occupancy decline
“Average Occupied Days Percentage, which was 96.0% for the three months ended June 30, 2026 compared to 96.4% for the three months ended June 30, 2025” · word for word
Interest expense increase
“Interest expense increased 7.0% to $49.5 million for the three months ended June 30, 2026 from $46.3 million for the three months ended June 30, 2025” · word for word
Capital markets environment impacting investment
“a scale-back in capital investment given the current capital markets environment” · word for word
30 Jul 20268-K · 2.02Rents and other single-family property revenues $470M (+3% y/y); Net income attributable to common shareholders $114M (+8% y/y); Core FFO per share and unit $0.49 (+4% y/y); Guidance: Core FFO guidance midpoint raised by $0.03 to $1.95 perearningsopen
Figures in the filing · each found in the filing text
| Rents and other single-family property revenues · Q2-2026 | $470M | +3% y/y |
| Net income attributable to common shareholders · Q2-2026 | $114M | +8% y/y |
| Core FFO per share and unit · Q2-2026 | $0.49 | +4% y/y |
| Adjusted FFO per share and unit · Q2-2026 | $0.45 | +7% y/y |
| Same-Home Core NOI · Same-Home · Q2-2026 | $246M | +3% y/y |
| Same-Home Average Occupied Days Percentage · Same-Home · Q2-2026 | 96.0% | |
| Blended rate growth · Same-Home · Q2-2026 | 2.7% | |
| New homes delivered from development · Development · Q2-2026 | 651 | |
| Full Year 2026 Core FFO guidance midpoint · FY2026 | $1.95 | +4% y/y |
Guidance
Core FFO guidance midpoint raised by $0.03 to $1.95 per share/unit
Raised full-year 2026 Core FFO guidance by $0.03 to $1.95 per share/unit, reflecting 4.3% growth, driven by healthy demand, strong execution, and expense controls.
Risks flagged
Interest rate sensitivity; share repurchase activity may reduce liquidity.
“Repurchased and retired 4.1 million of our outstanding Class A common shares at a weighted-average price of $29.88 per share and a total price of $123.0 million in the second quarter of 2026.” · word for word
12 Jun 20268-K · 8.01Disclosed a material event under other events (litigation, recall, contract loss, or major announcement); filed financial statements and exhibits with this reportopen
Risks flagged
Potential dilution from ATM program; forward sale agreements may result in cash or share settlement.
“the Company may issue and sell from time to time... Class A common shares, having an aggregate offering price of up to $1.0 billion.” · word for word
7 May 202610-QRents and other single-family property revenues $472M (+3% y/y); Net income $149M (+16% y/y); Same-Home Average Monthly Realized Rent per property $2,329.00 (+3% y/y)open
Figures in the filing · each found in the filing text
| Rents and other single-family property revenues · Q1-2026 | $472M | +3% y/y |
| Net income · Q1-2026 | $149M | +16% y/y |
| Same-Home Average Monthly Realized Rent per property · Same-Home · Q1-2026 | $2329.00 | +3% y/y |
| Same-Home Average Occupied Days Percentage · Same-Home · Q1-2026 | 95.1% | |
| Same-Home Core NOI · Same-Home · Q1-2026 | $246M | +4% y/y |
| Total properties owned · Q1-2026 | 61,237 | |
| Same-Home properties count · Same-Home · Q1-2026 | 54,162 | |
| Share repurchase authorization · 2026-02 | $500M |
Risks flagged
Regulatory risk from institutional ownership restrictions
“New and proposed laws and regulations restricting institutional ownership of single-family homes could impede our ability to operate or grow our business.” · word for word
Occupancy decline
“Average Occupied Days Percentage, which was 95.1% for the three months ended March 31, 2026 compared to 95.9% for the three months ended March 31, 2025.” · word for word
Tariff and inflation impact on costs
“labor shortages, supply chain disruptions and inflationary pressures, including as a result of tariffs, have impacted and may in the future impact certain aspects of our business, including our AMH Development Program, our renovation program and our maintenance program.” · word for word
6 May 20268-K · 2.02Rents and other single-family property revenues $472M (+3% y/y); Net income attributable to common shareholders $128M; Diluted EPS $0.35earningsopen
Figures in the filing · each found in the filing text
| Rents and other single-family property revenues · Q1-2026 | $472M | +3% y/y |
| Net income attributable to common shareholders · Q1-2026 | $128M | |
| Diluted EPS · Q1-2026 | $0.35 | |
| Core FFO per share and unit · Q1-2026 | $0.48 | +5% y/y |
| Adjusted FFO per share and unit · Q1-2026 | $0.45 | +8% y/y |
| Same-Home Core NOI growth · Q1-2026 | 3.7% | |
| Same-Home Average Occupied Days Percentage · Q1-2026 | 95.1% | |
| Blended rate growth · Q1-2026 | 2.2% | |
| New lease spread · Q1-2026 | -0.8% | |
| Renewal lease spread · Q1-2026 | 3.2% |
27 Mar 2026DEF 14ATotal Single-Family Properties 61,479 (+0% y/y); Same-Home Average Occupancy 96; Same-Home Average Monthly Realized Rent $2,282.00 (+4% y/y)open
Figures in the filing · each found in the filing text
| Total Single-Family Properties · FY2025 | 61,479 | +0% y/y |
| Same-Home Average Occupancy · Same-Home · FY2025 | 96.0% | |
| Same-Home Average Monthly Realized Rent · Same-Home · FY2025 | $2282.00 | +4% y/y |
| Core FFO per Share · FY2025 | $1.87 | +5% y/y |
| Total Revenues · FY2025 | $1.85B | +7% y/y |
| Net Income · FY2025 | $513M | +10% y/y |
| Core NOI - Total Portfolio · Total Portfolio · FY2025 | $1.06B | +8% y/y |
| Same-Home Core NOI · Same-Home · FY2025 | $932M | +5% y/y |
| Blended Rent Growth · FY2025 | 2.5% | |
| Properties Sold · FY2025 | 1,827 | +7% y/y |
Guidance
Management expresses confidence in fundamentals but notes new supply moderated rental rate growth. Expects normalization. No explicit numerical guidance provided. Company moderated growth to free up capital for share repurchases.
Risks flagged
Regulatory Restrictions on Corporate Homeownership
“Some states and local jurisdictions have passed or proposed regulations (i) imposing prohibitions or limitations on corporate entities purchasing and renting single-family homes”
Geographic Concentration
“57.9% of our operating properties are located in Atlanta, GA, Charlotte, NC, Dallas-Fort Worth, TX, Nashville, TN, Jacksonville, FL, Phoenix, AZ, Indianapolis, IN, Tampa, FL, Las Vegas, NV and Houston, TX.”
New Supply Moderation
“new supply came online in certain areas of our markets during 2025, which moderated rental rate growth” · word for word
Development Cost Overruns
“If we experience disruptions, shortages or increased costs of labor and supplies or other circumstances beyond our control, there could be delays or increased costs in constructing new rental homes”
20 Feb 202610-KRents and Other Single-Family Property Revenues $1.85B (+7% y/y); Net Income $513M (+10% y/y); Same-Home Core NOI $932M (+5% y/y); Guidance: No explicit guidance provided.open
Figures in the filing · each found in the filing text
| Rents and Other Single-Family Property Revenues · FY2025 | $1.85B | +7% y/y |
| Net Income · FY2025 | $513M | +10% y/y |
| Same-Home Core NOI · Same-Home · FY2025 | $932M | +5% y/y |
| Average Monthly Realized Rent per Property · FY2025 | $2282.00 | +4% y/y |
| Same-Home Occupancy · Same-Home · FY2025 | 94.4% | |
| Blended Growth Rate · FY2025 | 2.5% | |
| Properties · FY2025 | 61,479 | +0% y/y |
Guidance
No explicit guidance provided.
No explicit forward guidance provided. Management discusses ongoing development program and strategic scaling back of acquisitions.
Risks flagged
Regulatory Restrictions on Corporate Homeownership
“Some states and local jurisdictions have passed or proposed regulations (i) imposing prohibitions or limitations on corporate entities purchasing and renting single-family homes...” · word for word
Geographic Concentration
“57.9% of our operating properties are located in Atlanta, GA, Charlotte, NC, Dallas-Fort Worth, TX, Nashville, TN, Jacksonville, FL, Phoenix, AZ, Indianapolis, IN, Tampa, FL, Las Vegas, NV and Houston, TX.” · word for word
Development Cost Overruns
“Additionally, labor shortages, supply chain disruptions and inflationary pressures, including as a result of tariffs, have impacted and may in the future impact certain aspects of our business, including our AMH Development Program, our renovation program and our maintenance program.” · word for word
Interest Rate Sensitivity
“Interest expense increased 12.0% to $185.2 million for the year ended December 31, 2025 from $165.4 million for the year ended December 31, 2024.” · word for word
19 Feb 20268-K · 2.02Rents and other single-family property revenues $455M (+4% y/y); Net income attributable to common shareholders $124M; Diluted EPS $0.33earningsopen
Figures in the filing · each found in the filing text
| Rents and other single-family property revenues · Q4-2025 | $455M | +4% y/y |
| Net income attributable to common shareholders · Q4-2025 | $124M | |
| Diluted EPS · Q4-2025 | $0.33 | |
| Core FFO per share and unit · Q4-2025 | $0.47 | +4% y/y |
| Adjusted FFO per share and unit · Q4-2025 | $0.44 | +7% y/y |
| Same-Home Core NOI growth · Q4-2025 | 3.5% | |
| Same-Home Average Occupied Days Percentage · Q4-2025 | 95.0% | |
| Blended rate growth · Q4-2025 | 2.8% | |
| New lease spread · Q4-2025 | -0.3% | |
| Renewal lease spread · Q4-2025 | 4.2% |
3 Dec 20258-K · 7.01Core FFO per share growth 5.6; Same-Home Core Revenues growth 3.75; Deliveries 2,400; Guidance: Core FFO per share growth 5.6%, Same-Home Core Revenues growth 3.75%, deliveries 2,200-2,400open
Figures in the filing · each found in the filing text
| Core FFO per share growth · FY2025 | 5.6% | |
| Same-Home Core Revenues growth · FY2025 | 3.8% | |
| Deliveries · FY2025 | 2,400 | |
| Blended lease spreads · Q4-2025 | 2.9% | |
| Average Occupied Days · Q4-2025 | 95.0% | |
| Net Debt to Adjusted EBITDAre · Q3-2025 | $5.10 | |
| Undrawn revolver capacity · Q3-2025 | $1.14B |
Guidance
Core FFO per share growth 5.6%, Same-Home Core Revenues growth 3.75%, deliveries 2,200-2,400
AMH reaffirmed 2025 guidance with positive metrics: Core FFO per share growth 5.6%, Same-Home Core Revenues growth 3.75%, and 2,200-2,400 deliveries. Blended lease spreads of 2.9% with strong renewal rates. Investment grade balance sheet with fully unencumbered assets. Expects flat occupancy and moderation in new lease
Risks flagged
Moderation in new lease pricing in December could signal softening demand.
“Expecting Flat Occupancy for Remainder of 4Q25 and Moderation in December New Lease Pricing to Position Portfolio for 2026” · word for word
30 Oct 202510-QRental revenue $478M (+8% y/y); Net income $117M (+33% y/y); Same-Home Core NOI $235M (+5% y/y)open
Figures in the filing · each found in the filing text
| Rental revenue · Q3-2025 | $478M | +8% y/y |
| Net income · Q3-2025 | $117M | +33% y/y |
| Same-Home Core NOI · Same-Home · Q3-2025 | $235M | +5% y/y |
| Same-Home average monthly realized rent · Same-Home · Q3-2025 | $2296.00 | +4% y/y |
| Same-Home occupancy · Same-Home · Q3-2025 | 95.9% | |
| Properties owned · 2025-09-30 | 61,692 | +3% y/y |
Risks flagged
Interest rate sensitivity
“Interest expense increased 10.5% to $48.2 million for the three months ended September 30, 2025 from $43.6 million for the three months ended September 30, 2024. The increase was primarily due to additional interest from the issuances of unsecured senior notes.” · word for word
Occupancy decline
“Average Occupied Days Percentage, which was 95.9% for the three months ended September 30, 2025 compared to 96.1% for the three months ended September 30, 2024.” · word for word
29 Oct 20258-K · 2.02Rents and other single-family property revenues $478M (+8% y/y); Net Income Attributable to Common Shareholders $100M (+35% y/y); Core FFO per share and unit $0.47 (+6% y/y); Guidance: Core FFO guidance midpoint raised by $0.01 to $1.87 perearningsopen
Figures in the filing · each found in the filing text
| Rents and other single-family property revenues · Q3-2025 | $479M | +8% y/y |
| Net Income Attributable to Common Shareholders · Q3-2025 | $100M | +35% y/y |
| Core FFO per share and unit · Q3-2025 | $0.47 | +6% y/y |
| Adjusted FFO per share and unit · Q3-2025 | $0.42 | +9% y/y |
| Same-Home Core NOI · Same-Home · Q3-2025 | $235M | +5% y/y |
| Same-Home Average Occupied Days Percentage · Same-Home · Q3-2025 | 95.9% | |
| Blended Rate Growth · Q3-2025 | 3.6% | |
| Newly Constructed Homes Delivered · Development · Q3-2025 | 651 |
Guidance
Core FFO guidance midpoint raised by $0.01 to $1.87 per share/unit
Raised full year 2025 Core FFO guidance midpoint by $0.01 to $1.87, representing anticipated full year growth of 5.6% over prior year.
American Homes 4 Rent — questions
- What did American Homes 4 Rent file recently?
- 18 SEC filings in the last 12 months. Latest: SC 13D/A on 2026-09-11 — Schedule 13D/A: HUGHES B WAYNE ET AL 5.98%
Every figure on this page comes from American Homes 4 Rent's own SEC filings — see them on SEC EDGAR. Price data is licensed and shown only inside the product.
How these figures are read: methodology · EquiReason.