AGOURA HILLS, Calif.,
Nov. 26, 2014 /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 September 30,
2014, 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
September 30, 2014, which was
released November 25, 2014.
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 September 30, 2014 was 8.39%, resulting in a Home
Price Appreciation Factor of 4.20%. The Home Price
Appreciation Amount on our 5% Series A and 5% Series B
Participating Preferred Shares through September 30, 2014 was $1.049.
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
September 30, 2014 was 5.58%,
resulting in a Home Price Appreciation Factor of 2.79%. The
Home Price Appreciation Amount on our 5.5% Series C Participating
Preferred Shares through September 30,
2014 was $0.698.
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.
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 and subsequent reports on Form 10-Q and Form 8-K filed
with the Securities and Exchange Commission.
About American Homes 4 Rent
American Homes 4 Rent (NYSE: AMH) 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 September 30, 2014,
we owned 30,877 single-family properties in selected submarkets in
22 states.
Additional information about American Homes 4 Rent is available
on our website at www.americanhomes4rent.com.
Contact:
American Homes 4 Rent
Investor Relations
Phone: (858) 794-2447
Email: investors@ah4r.com
|
Measurement of
Aggregate HPA Amount Per
5% Series A and 5%
Series B Participating Preferred Share (1)
September 30,
2014
|
|
|
|
|
|
|
|
|
|
June 30,
2013
|
September 30,
2014
|
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
|
212.46
|
9.45%
|
Fort Worth –
Arlington, TX
|
4.754%
|
180.86
|
100
|
195.90
|
8.32%
|
Indianapolis,
IN
|
8.880%
|
164.50
|
100
|
172.15
|
4.65%
|
Greater Chicago
Area, IL
|
7.679%
|
182.20
|
100
|
192.62
|
5.72%
|
Atlanta,
GA
|
7.545%
|
174.20
|
100
|
191.64
|
10.01%
|
Nashville,
TN
|
6.390%
|
230.70
|
100
|
252.56
|
9.48%
|
Houston,
TX
|
6.312%
|
241.20
|
100
|
269.73
|
11.83%
|
Cincinnati,
OH
|
6.119%
|
166.30
|
100
|
176.91
|
6.38%
|
Salt Lake City,
UT
|
5.495%
|
323.90
|
100
|
338.44
|
4.49%
|
Tampa, FL
|
5.361%
|
209.60
|
100
|
230.66
|
10.05%
|
Charlotte,
NC
|
5.354%
|
186.80
|
100
|
197.20
|
5.57%
|
Phoenix,
AZ
|
5.270%
|
232.50
|
100
|
255.02
|
9.69%
|
Jacksonville,
FL
|
4.776%
|
211.70
|
100
|
231.66
|
9.43%
|
Las Vegas,
NV
|
4.371%
|
133.30
|
100
|
163.52
|
22.67%
|
Raleigh,
NC
|
4.040%
|
197.10
|
100
|
206.07
|
4.55%
|
Columbus,
OH
|
3.167%
|
178.90
|
100
|
191.51
|
7.05%
|
Orlando,
FL
|
3.036%
|
180.00
|
100
|
194.19
|
7.88%
|
Tucson, AZ
|
1.867%
|
206.70
|
100
|
235.07
|
13.73%
|
Greensboro,
NC
|
1.789%
|
161.00
|
100
|
162.22
|
0.76%
|
Austin, TX
|
1.550%
|
316.10
|
100
|
348.77
|
10.34%
|
San Antonio,
TX
|
1.490%
|
226.50
|
100
|
239.72
|
5.84%
|
|
|
|
|
|
|
Cumulative
HPA
|
|
|
0.00%
|
|
8.39%
|
|
|
|
|
|
|
HPA Factor
(50% Cumulative HPA)
|
|
|
0.00%
|
|
4.20%
|
|
|
|
|
|
|
HPA
Amount
|
|
|
|
|
$
1.049
|
|
|
|
|
|
|
(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
September 30,
2014
|
|
|
|
December 31,
2013
|
September 30,
2014
|
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
|
212.46
|
6.88%
|
Fort Worth –
Arlington, TX
|
4.754%
|
186.40
|
100
|
195.90
|
5.10%
|
Indianapolis,
IN
|
8.880%
|
165.40
|
100
|
172.15
|
4.08%
|
Greater Chicago
Area, IL
|
7.679%
|
185.58
|
100
|
192.62
|
3.79%
|
Atlanta,
GA
|
7.545%
|
179.66
|
100
|
191.64
|
6.67%
|
Nashville,
TN
|
6.390%
|
237.75
|
100
|
252.56
|
6.23%
|
Houston,
TX
|
6.312%
|
251.00
|
100
|
269.73
|
7.46%
|
Cincinnati,
OH
|
6.119%
|
166.16
|
100
|
176.91
|
6.47%
|
Salt Lake City,
UT
|
5.495%
|
323.59
|
100
|
338.44
|
4.59%
|
Tampa, FL
|
5.361%
|
218.28
|
100
|
230.66
|
5.67%
|
Charlotte,
NC
|
5.354%
|
193.47
|
100
|
197.20
|
1.93%
|
Phoenix,
AZ
|
5.270%
|
247.72
|
100
|
255.02
|
2.95%
|
Jacksonville,
FL
|
4.776%
|
216.03
|
100
|
231.66
|
7.24%
|
Las Vegas,
NV
|
4.371%
|
149.08
|
100
|
163.52
|
9.69%
|
Raleigh,
NC
|
4.040%
|
198.65
|
100
|
206.07
|
3.74%
|
Columbus,
OH
|
3.167%
|
180.44
|
100
|
191.51
|
6.14%
|
Orlando,
FL
|
3.036%
|
181.11
|
100
|
194.19
|
7.22%
|
Tucson, AZ
|
1.867%
|
216.99
|
100
|
235.07
|
8.33%
|
Greensboro,
NC
|
1.789%
|
157.21
|
100
|
162.22
|
3.19%
|
Austin, TX
|
1.550%
|
317.68
|
100
|
348.77
|
9.79%
|
San Antonio,
TX
|
1.490%
|
227.56
|
100
|
239.72
|
5.34%
|
|
|
|
|
|
|
Cumulative
HPA
|
|
|
0.00%
|
|
5.58%
|
|
|
|
|
|
|
HPA Factor
(50% Cumulative HPA)
|
|
|
0.00%
|
|
2.79%
|
|
|
|
|
|
|
HPA
Amount
|
|
|
|
|
$
0.698
|
|
|
|
|
|
|
(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-300001537.html
|
SOURCE American Homes 4 Rent