LAS VEGAS - AMH (NYSE: AMH), a prominent real estate investment trust specializing in single-family rental homes, has declared an 18% increase in its quarterly dividend, raising the payout from $0.22 to $0.26 per common share. The dividend is scheduled for payment on March 28, 2024, to shareholders on record as of March 15, 2024.
The company's Board of Trustees also announced quarterly distributions for its cumulative redeemable perpetual preferred shares. Holders of the 5.875% Series G shares will receive $0.36719 per share, and those owning the 6.250% Series H shares will get $0.39063 per share, with the same payment date and record date as the common share dividend.
AMH, an internally managed Maryland REIT, has a portfolio exceeding 59,000 single-family properties across various regions in the United States, including the Southeast, Midwest, Southwest, and Mountain West. The company's operations encompass acquisition, development, renovation, leasing, and management of rental properties.
In the past year, AMH has received accolades such as being named one of Fortune's 2023 Best Workplaces in Real Estate, a 2023 Great Place to Work, a 2023 Most Loved Workplace, a 2023 Top U.S. Homebuilder by Builder100, and one of America's Most Responsible and Most Trustworthy Companies 2023 by Newsweek and Statista Inc.
This article is based on a press release statement from AMH and presents the key facts without speculation or promotional language. It provides investors with the latest dividend information and a brief overview of the company's recent recognitions and operational scope.
The press release also contained forward-looking statements, cautioning that while management believes their expectations are reasonable, these are subject to risks and uncertainties that could cause actual results to differ from those anticipated.
InvestingPro Insights
AMH (NYSE: AMH) has demonstrated a commitment to shareholder returns by announcing an 18% increase in its quarterly dividend. This marks a significant move for the company, reflecting confidence in its financial stability and future growth prospects. In light of this development, several key metrics and InvestingPro Tips can provide investors with a deeper understanding of AMH's position in the market.
InvestingPro Tips suggest that AMH has been trading at a low P/E ratio relative to near-term earnings growth, indicating potential undervaluation compared to its future earnings potential. Moreover, the company has been profitable over the last twelve months, which is a reassuring sign for investors looking for stable income-generating investments. For those interested in a comprehensive analysis, there are additional insights available on InvestingPro, including a total of 7 InvestingPro Tips for AMH.
From the InvestingPro Data, AMH's market capitalization stands at 14.37 billion USD, with a P/E ratio of 33.05, which aligns with the InvestingPro Tip about the company's low P/E ratio. The dividend yield as of the latest data is 2.56%, a notable figure for income-focused investors. Additionally, the revenue growth over the last twelve months was 10.24%, signaling a healthy expansion in the company's financials.
Investors can explore these metrics further and access additional InvestingPro Tips by visiting https://www.investing.com/pro/AMH. To enhance their experience, users may apply the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription, offering a more detailed investment analysis and valuable market insights.
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