AGOURA HILLS, Calif.,
May 25, 2016 /PRNewswire/ -- American
Homes 4 Rent (NYSE: AMH), a leading provider of high quality
single-family rental homes ("the Company"), today posted the
revised "Home Price Appreciation Factor" and "Home Price
Appreciation Amount" through March 31,
2016, as those terms are defined in the final prospectuses
for the Company's 5% Series A, 5% Series B and 5.5% Series C
Participating Preferred Shares (NYSE: AMHPRA, AMHPRB and
AMHPRC). The computations of these amounts are based on the
results of the House Price Index of the Federal Housing Finance
Agency, or FHFA, known as the Quarterly Purchase-Only Index, or
POI, specifically the non-seasonally adjusted "Purchase-Only Index"
for the "100 Largest Metropolitan Statistical Areas" as of
March 31, 2016, which was released
May 25, 2016.
Based on the weighting among our top 20 markets established
under the terms of our 5% Series A and 5% Series B Participating
Preferred Shares, cumulative home price appreciation for the period
from June 30, 2013 to March 31, 2016 was 17.15%, resulting in a Home
Price Appreciation Factor of 8.58%. The Home Price
Appreciation Amount on our 5% Series A and 5% Series B
Participating Preferred Shares through March
31, 2016 was $2.144.
Additionally, based on the weighting among our top 20 markets
established under the terms of our 5.5% Series C Participating
Preferred Shares, cumulative home price appreciation for the period
from December 31, 2013 to
March 31, 2016 was 14.08%, resulting
in a Home Price Appreciation Factor of 7.04%. The Home Price
Appreciation Amount on our 5.5% Series C Participating Preferred
Shares through March 31, 2016 was
$1.761.
The computation of these amounts appears at the end of this
press release and has also been posted to the "For Investors" page
of the Company's website (www.americanhomes4rent.com). The
Company anticipates announcing the next update to these amounts in
approximately three months.
About American Homes 4 Rent
American Homes 4 Rent is a
leader in the single-family home rental industry and "American
Homes 4 Rent" is fast becoming a nationally recognized brand for
rental homes, known for high quality, good value and tenant
satisfaction. We are an internally managed Maryland real estate investment trust, or
REIT, focused on acquiring, renovating, leasing, and operating
attractive, single-family homes as rental properties. As of
March 31, 2016, we owned 47,955
single-family properties in selected submarkets in 22
states.
Forward-Looking Statements
This press release contains
"forward-looking statements." These forward-looking statements
relate to beliefs, expectations or intentions and similar
statements concerning matters that are not of historical fact and
are generally accompanied by words such as "estimate," "project,"
"predict," "believe," "expect," "anticipate," "intend,"
"potential," "plan," "goal" or other words that convey the
uncertainty of future events or outcomes. Examples of
forward-looking statements contained in this press release include
the anticipated timing of the next update of the Home Price
Appreciation Amount. The Company has based these forward-looking
statements on its current expectations and assumptions about future
events. While the Company's management considers these expectations
to be reasonable, they are inherently subject to risks,
contingencies and uncertainties, most of which are difficult to
predict and many of which are beyond the Company's control and
could cause actual results to differ materially from any future
results, performance or achievements expressed or implied by these
forward-looking statements. Investors should not place undue
reliance on these forward-looking statements, which speak only as
of the date of this press release. The Company undertakes no
obligation to update any forward-looking statements to conform to
actual results or changes in its expectations, unless required by
applicable law. For a further description of the risks and
uncertainties that could cause actual results to differ from those
expressed in these forward-looking statements, as well as risks
relating to the business of the Company in general, see the "Risk
Factors" disclosed in the Company's most recent Annual Report on
Form 10-K in the Company's subsequent filings with the Securities
and Exchange Commission.
Contact:
American Homes 4 Rent
Investor Relations
Phone: (855) 794-2447
Email: investors@ah4r.com
Measurement of
Aggregate HPA Amount Per
|
5% Series A and 5%
Series B Participating Preferred Share (1)
|
March 31,
2016
|
|
|
|
June 30,
2013
|
March 31,
2016
|
Metropolitan
Statistical Area
|
Relative Weighting
Applied in Determining HPA
|
Actual POI Value
(2)
|
Assigned
Baseline Value
|
Actual POI
Value
|
POI Value Relative
to Jun 30, 2013 Baseline
|
Dallas – Plano –
Irving, TX
|
4.754%
|
194.12
|
100
|
243.47
|
25.42%
|
Fort Worth –
Arlington, TX
|
4.754%
|
180.86
|
100
|
214.83
|
18.78%
|
Indianapolis,
IN
|
8.880%
|
164.50
|
100
|
179.26
|
8.97%
|
Greater Chicago
Area, IL
|
7.679%
|
182.20
|
100
|
194.16
|
6.56%
|
Atlanta,
GA
|
7.545%
|
174.20
|
100
|
210.35
|
20.75%
|
Nashville,
TN
|
6.390%
|
230.70
|
100
|
276.00
|
19.64%
|
Houston,
TX
|
6.312%
|
241.20
|
100
|
282.95
|
17.31%
|
Cincinnati,
OH
|
6.119%
|
166.30
|
100
|
179.23
|
7.78%
|
Salt Lake City,
UT
|
5.495%
|
323.90
|
100
|
369.36
|
14.04%
|
Tampa, FL
|
5.361%
|
209.60
|
100
|
263.40
|
25.67%
|
Charlotte,
NC
|
5.354%
|
186.80
|
100
|
219.19
|
17.34%
|
Phoenix,
AZ
|
5.270%
|
232.50
|
100
|
285.88
|
22.96%
|
Jacksonville,
FL
|
4.776%
|
211.70
|
100
|
252.14
|
19.10%
|
Las Vegas,
NV
|
4.371%
|
133.30
|
100
|
178.96
|
34.25%
|
Raleigh,
NC
|
4.040%
|
197.10
|
100
|
228.09
|
15.72%
|
Columbus,
OH
|
3.167%
|
178.90
|
100
|
198.92
|
11.19%
|
Orlando,
FL
|
3.036%
|
180.00
|
100
|
225.47
|
25.26%
|
Tucson, AZ
|
1.867%
|
206.70
|
100
|
225.44
|
9.07%
|
Greensboro,
NC
|
1.789%
|
161.00
|
100
|
170.51
|
5.91%
|
Austin, TX
|
1.550%
|
316.10
|
100
|
397.43
|
25.73%
|
San Antonio,
TX
|
1.490%
|
226.50
|
100
|
262.17
|
15.75%
|
|
|
|
|
|
|
Cumulative
HPA
|
|
|
0.00%
|
|
17.15%
|
|
|
|
|
|
|
HPA Factor
(50% Cumulative HPA)
|
|
|
0.00%
|
|
8.58%
|
|
|
|
|
|
|
HPA
Amount
|
|
|
|
|
$ 2.144
|
|
(1) The Actual POI
Value and HPA Amount for each quarter since the issuance of the 5%
Series A and 5% Series B Participating Preferred Shares are
available on the Company's website on the "For Investors"
page.
|
|
(2) Actual POI Value
as of June 30, 2013 represents the value as published in the POI
for each market as of October 18, 2013 and will remain constant for
purposes of calculating the HPA Amount, notwithstanding any
subsequent revisions by the FHFA.
|
Measurement of
Aggregate HPA Amount Per
|
5.5% Series C
Participating Preferred Share
|
March 31,
2016
|
|
|
|
December 31,
2013
|
March 31,
2016
|
Metropolitan
Statistical Area
|
Relative Weighting
Applied in Determining HPA
|
Actual POI Value
(1)
|
Assigned
Baseline Value
|
Actual POI
Value
|
POI Value Relative
to Dec 31, 2013 Baseline
|
Dallas – Plano –
Irving, TX
|
4.754%
|
198.79
|
100
|
243.47
|
22.48%
|
Fort Worth –
Arlington, TX
|
4.754%
|
186.40
|
100
|
214.83
|
15.25%
|
Indianapolis,
IN
|
8.880%
|
165.40
|
100
|
179.26
|
8.38%
|
Greater Chicago
Area, IL
|
7.679%
|
185.58
|
100
|
194.16
|
4.62%
|
Atlanta,
GA
|
7.545%
|
179.66
|
100
|
210.35
|
17.08%
|
Nashville,
TN
|
6.390%
|
237.75
|
100
|
276.00
|
16.09%
|
Houston,
TX
|
6.312%
|
251.00
|
100
|
282.95
|
12.73%
|
Cincinnati,
OH
|
6.119%
|
166.16
|
100
|
179.23
|
7.87%
|
Salt Lake City,
UT
|
5.495%
|
323.59
|
100
|
369.36
|
14.14%
|
Tampa, FL
|
5.361%
|
218.28
|
100
|
263.40
|
20.67%
|
Charlotte,
NC
|
5.354%
|
193.47
|
100
|
219.19
|
13.29%
|
Phoenix,
AZ
|
5.270%
|
247.72
|
100
|
285.88
|
15.40%
|
Jacksonville,
FL
|
4.776%
|
216.03
|
100
|
252.14
|
16.72%
|
Las Vegas,
NV
|
4.371%
|
149.08
|
100
|
178.96
|
20.04%
|
Raleigh,
NC
|
4.040%
|
198.65
|
100
|
228.09
|
14.82%
|
Columbus,
OH
|
3.167%
|
180.44
|
100
|
198.92
|
10.24%
|
Orlando,
FL
|
3.036%
|
181.11
|
100
|
225.47
|
24.49%
|
Tucson, AZ
|
1.867%
|
216.99
|
100
|
225.44
|
3.89%
|
Greensboro,
NC
|
1.789%
|
157.21
|
100
|
170.51
|
8.46%
|
Austin, TX
|
1.550%
|
317.68
|
100
|
397.43
|
25.10%
|
San Antonio,
TX
|
1.490%
|
227.56
|
100
|
262.17
|
15.21%
|
|
|
|
|
|
|
Cumulative
HPA
|
|
|
0.00%
|
|
14.08%
|
|
|
|
|
|
|
HPA Factor
(50% Cumulative HPA)
|
|
|
0.00%
|
|
7.04%
|
|
|
|
|
|
|
HPA
Amount
|
|
|
|
|
$ 1.761
|
|
(1) Actual POI Value
as of December 31, 2013 represents the value as published in the
POI for each market as of April 1, 2014 and will remain constant
for purposes of calculating the HPA Amount, notwithstanding any
subsequent revisions by the FHFA.
|
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/american-homes-4-rent-announces-home-price-appreciation-amounts-for-its-5-series-a-5-series-b-and-55-series-c-participating-preferred-shares-300275238.html
SOURCE American Homes 4 Rent