American Homes 4 Rent Reports Increased Net Income and Revenue Growth in Q2 2025

American Homes 4 Rent (AMH) reported a significant increase in financial performance for the second quarter of 2025, with net income reaching $123.6 million, up from $108.5 million in the same period last year. This translates to a net income per share of $0.28, compared to $0.25 in the prior year. For the first half of 2025, net income totaled $252.3 million, an increase from $236.6 million in the first half of 2024. The growth in revenue was primarily driven by an increase in rents and other single-family property revenues, which rose to $457.5 million for the quarter, an 8.0% increase from $423.5 million in the previous year.

The company also reported a rise in total expenses, which increased to $390.4 million for the second quarter, compared to $362.8 million in the same quarter of 2024. The increase in expenses was attributed to higher property operating costs, management expenses, and interest expenses, reflecting the company's ongoing expansion and operational activities. Notably, property operating expenses rose to $160.1 million, driven by the growth in the portfolio and annual increases in property taxes.

In terms of operational developments, American Homes 4 Rent owned 61,500 single-family properties across 24 states as of June 30, 2025, an increase from 61,336 properties at the end of 2024. The occupancy rate for these properties was reported at 95.7%, with an average monthly realized rent of $2,282. The company also engaged in significant property transactions, selling 370 properties during the quarter, which contributed to a net gain of $51.9 million from property sales.

Looking ahead, American Homes 4 Rent plans to continue its strategic growth through acquisitions and development. The company has committed to acquiring additional properties and has a robust pipeline of new developments. As of June 30, 2025, the company had $323.3 million in cash and cash equivalents, with no outstanding borrowings under its $1.25 billion revolving credit facility, providing a strong liquidity position to support future growth initiatives. The company also announced its intent to repay the outstanding balance of the AMH 2015-SFR2 securitization in the third quarter of 2025, further strengthening its financial position.