American Homes 4 Rent (MEX:AMH)
MXN 673 0 (0%) Market Cap: 279.86 Bil Enterprise Value: 367.15 Bil PE Ratio: 39.83 PB Ratio: 1.99 GF Score: 84/100
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Q2 2024 American Homes 4 Rent Earnings Call Transcript

Aug 02, 2024 / 04:00PM GMT
Release Date Price: MXN673

Key Points

Positve
  • Core FFO per share growth of 8.5% year over year.
  • Increased core FFO per share outlook by $0.03 to $1.76 at the midpoint.
  • Successfully issued a 10-year unsecured bond, derisking debt maturities.
  • Same-Home core NOI growth of 5.9% for the quarter.
  • Strong leasing spreads and improved bad debt outlook.
Negative
  • Increased supply pressures in markets like Phoenix affecting occupancy.
  • Higher property tax growth expectations at 7% for the full year.
  • Continued dependency on the resale market for growth.
  • Potential impact of lower mortgage rates on occupancy and turnover.
  • Challenges in managing turnover inventory during move-out season.
Editor

(Please stand by for streaming text.)

Operator

All right. Greetings, and welcome to the American Homes 4 Rent second quarter 2024 earnings conference call. At this time, all participants are in a listen only mode. A brief question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone key pad. As a reminder, this conference is being recorded. Is now my pleasure to introduce your host, Nick from Director of Investor Relations. Thank you. Nick, you may begin.

Nicholas Fromm
American Homes 4 Rent - Director of IR

The Board. Thank you for joining us for a second quarter 2024 earnings conference call. With me today are David Singelyn, Chief Executive Officer; Brian Smith, Chief Operating Officer; and Chris well, Chief Financial Officer.

Please be advised that this call may include forward-looking statements are statements other than statements of historical fact included in this conference call are forward looking

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