AGOURA HILLS, Calif.,
Nov. 30, 2015 /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,
2015, 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, 2015, which was
released November 25, 2015.
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, 2015, was 15.91%, resulting in a
Home Price Appreciation Factor of 7.95%. The Home Price
Appreciation Amount on our 5% Series A and 5% Series B
Participating Preferred Shares through September 30, 2015, was $1.989.
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, 2015, was 12.89%,
resulting in a Home Price Appreciation Factor of 6.44%. The
Home Price Appreciation Amount on our 5.5% Series C Participating
Preferred Shares through September 30,
2015, was $1.611.
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" that
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 filings with the Securities and Exchange
Commission.
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 September 30, 2015,
we owned 38,377 single-family properties in selected submarkets in
22 states.
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)
|
September 30,
2015
|
|
|
|
|
|
|
|
|
|
June 30,
2013
|
September 30,
2015
|
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
|
234.01
|
20.55%
|
Fort Worth –
Arlington, TX
|
4.754%
|
180.86
|
100
|
211.66
|
17.03%
|
Indianapolis,
IN
|
8.880%
|
164.50
|
100
|
178.93
|
8.77%
|
Greater Chicago
Area, IL
|
7.679%
|
182.20
|
100
|
198.31
|
8.84%
|
Atlanta,
GA
|
7.545%
|
174.20
|
100
|
208.40
|
19.63%
|
Nashville,
TN
|
6.390%
|
230.70
|
100
|
268.77
|
16.50%
|
Houston,
TX
|
6.312%
|
241.20
|
100
|
287.21
|
19.08%
|
Cincinnati,
OH
|
6.119%
|
166.30
|
100
|
183.47
|
10.32%
|
Salt Lake City,
UT
|
5.495%
|
323.90
|
100
|
363.41
|
12.20%
|
Tampa, FL
|
5.361%
|
209.60
|
100
|
252.39
|
20.42%
|
Charlotte,
NC
|
5.354%
|
186.80
|
100
|
211.48
|
13.21%
|
Phoenix,
AZ
|
5.270%
|
232.50
|
100
|
280.22
|
20.52%
|
Jacksonville,
FL
|
4.776%
|
211.70
|
100
|
247.81
|
17.06%
|
Las Vegas,
NV
|
4.371%
|
133.30
|
100
|
176.90
|
32.71%
|
Raleigh,
NC
|
4.040%
|
197.10
|
100
|
224.77
|
14.04%
|
Columbus,
OH
|
3.167%
|
178.90
|
100
|
203.27
|
13.62%
|
Orlando,
FL
|
3.036%
|
180.00
|
100
|
216.99
|
20.55%
|
Tucson, AZ
|
1.867%
|
206.70
|
100
|
229.37
|
10.97%
|
Greensboro,
NC
|
1.789%
|
161.00
|
100
|
170.29
|
5.77%
|
Austin, TX
|
1.550%
|
316.10
|
100
|
385.91
|
22.08%
|
San Antonio,
TX
|
1.490%
|
226.50
|
100
|
260.10
|
14.83%
|
|
|
|
|
|
|
Cumulative
HPA
|
|
|
0.00%
|
|
15.91%
|
|
|
|
|
|
|
HPA Factor
(50% Cumulative HPA)
|
|
|
0.00%
|
|
7.95%
|
|
|
|
|
|
|
HPA
Amount
|
|
|
|
|
$
1.989
|
(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,
2015
|
|
|
|
|
|
|
|
|
|
December 31,
2013
|
September 30,
2015
|
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
|
234.01
|
17.72%
|
Fort Worth –
Arlington, TX
|
4.754%
|
186.40
|
100
|
211.66
|
13.55%
|
Indianapolis,
IN
|
8.880%
|
165.40
|
100
|
178.93
|
8.18%
|
Greater Chicago
Area, IL
|
7.679%
|
185.58
|
100
|
198.31
|
6.86%
|
Atlanta,
GA
|
7.545%
|
179.66
|
100
|
208.40
|
16.00%
|
Nashville,
TN
|
6.390%
|
237.75
|
100
|
268.77
|
13.05%
|
Houston,
TX
|
6.312%
|
251.00
|
100
|
287.21
|
14.43%
|
Cincinnati,
OH
|
6.119%
|
166.16
|
100
|
183.47
|
10.42%
|
Salt Lake City,
UT
|
5.495%
|
323.59
|
100
|
363.41
|
12.31%
|
Tampa, FL
|
5.361%
|
218.28
|
100
|
252.39
|
15.63%
|
Charlotte,
NC
|
5.354%
|
193.47
|
100
|
211.48
|
9.31%
|
Phoenix,
AZ
|
5.270%
|
247.72
|
100
|
280.22
|
13.12%
|
Jacksonville,
FL
|
4.776%
|
216.03
|
100
|
247.81
|
14.71%
|
Las Vegas,
NV
|
4.371%
|
149.08
|
100
|
176.90
|
18.66%
|
Raleigh,
NC
|
4.040%
|
198.65
|
100
|
224.77
|
13.15%
|
Columbus,
OH
|
3.167%
|
180.44
|
100
|
203.27
|
12.65%
|
Orlando,
FL
|
3.036%
|
181.11
|
100
|
216.99
|
19.81%
|
Tucson, AZ
|
1.867%
|
216.99
|
100
|
229.37
|
5.71%
|
Greensboro,
NC
|
1.789%
|
157.21
|
100
|
170.29
|
8.32%
|
Austin, TX
|
1.550%
|
317.68
|
100
|
385.91
|
21.48%
|
San Antonio,
TX
|
1.490%
|
227.56
|
100
|
260.10
|
14.30%
|
|
|
|
|
|
|
Cumulative
HPA
|
|
|
0.00%
|
|
12.89%
|
|
|
|
|
|
|
HPA Factor
(50% Cumulative HPA)
|
|
|
0.00%
|
|
6.44%
|
|
|
|
|
|
|
HPA
Amount
|
|
|
|
|
$
1.611
|
(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-300185594.html
SOURCE American Homes 4 Rent