The Las Vegas-based company posted net income of $113.6 million for the second quarter, up from $105.6 million during the same period last year. Revenue from single-family properties climbed 2.8% to $470.1 million, bolstered by higher rental rates across the portfolio. CEO Bryan Smith attributed the performance to robust housing demand and the successful integration of newly constructed homes from the AMH Development Program, which delivered 651 units this quarter.
Operational efficiency remained a key focus, with Same-Home Core Net Operating Income rising 2.7% to $245.8 million. AMH also actively managed its capital structure, repurchasing 4.1 million Class A common shares for $123 million. Looking ahead, the company lifted its full-year 2026 Core FFO guidance midpoint to $1.95 per share, reflecting an anticipated 4.3% growth rate for the year. This upward revision accounts for lower-than-expected property tax expenses and steady contributions from recent development projects.
Comments (0)
No comments yet. Be the first!