AGOURA HILLS, Calif.,
Nov. 27, 2013 /PRNewswire/
-- American Homes 4 Rent (NYSE: AMH) ("AMH," the "Company,"
"we," "our" or "us") today posted the revised "Home Price
Appreciation Factor" and "Home Price Appreciation Amount" as of
September 30, 2013, as those terms
are referenced in the final prospectus for the Company's 5% Series
A Participating Preferred Shares. The computations of these
amounts are based on the latest 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,
2013, which was released yesterday.
Based on the weighting among our top 20 markets established
under the terms of our 5% Series A Participating Preferred Shares,
cumulative home price appreciation for the quarter ended
September 30, 2013 was 2.59%,
resulting in a Home Price Appreciation Factor of 1.30%. The
Home Price Appreciation Amount through September 30, 2013 was $0.324.
The computation of these amounts appears below, and will be
posted to the "For Investors" page of the Company's website
(www.americanhomes4rent.com), together with the FHFA report.
The Company anticipates announcing the next update to these amounts
in approximately three months.
The Company's 5% Series A Participating Preferred Shares are
traded on the New York Stock Exchange under the symbol
"AMHPRA."
Company Information
American Homes 4 Rent (NYSE: AMH) is an internally managed
Maryland real estate investment
trust, or REIT, focused on acquiring, renovating, leasing, and
operating single-family homes as rental properties. As of
September 30, 2013, we owned 21,267
single-family properties in selected submarkets in 22 states.
We are 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. Our common stock is a component of the Russell
1000 and Russell 3000 Indexes.
Additional information about American Homes 4 Rent is available
on our website at www.americanhomes4rent.com
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," "anticipate," "potential," "plan," "goal"
or other words that convey the uncertainty of future events or
outcomes. These forward-looking statements 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, including, but not limited to, conditions in the
capital markets, the results of discussions with the rating
agencies and factors impacting the Company's cost of capital, most
of which are difficult to predict and many of which are beyond the
Company's control. 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 statement to conform to actual results
or changes in expectations, except as required by applicable
law.
September 30,
2013 Quarterly
Measurement of Aggregate HPA Amount Per Series A Preferred
Share
|
|
|
-
|
June 30,
2013
|
September 30,
2013
|
Metropolitan
Statistical Area
|
Relative
Weighting
Applied in Determining HPA
|
Actual POI
Value
|
Assigned
Baseline Value
|
Actual POI
Value
|
Percentage
Change in POI Relative to
Jun 30, 2013
Baseline
|
Dallas – Plano –
Irving, TX
|
4.754%
|
194.12
|
100
|
196.50
|
1.23%
|
Fort Worth –
Arlington, TX
|
4.754%
|
180.86
|
100
|
184.71
|
2.13%
|
Indianapolis,
IN
|
8.880%
|
164.50
|
100
|
169.38
|
2.97%
|
Greater Chicago
Area, IL
|
7.679%
|
182.20
|
100
|
184.21
|
1.10%
|
Atlanta,
GA
|
7.545%
|
174.20
|
100
|
179.60
|
3.10%
|
Nashville,
TN
|
6.390%
|
230.70
|
100
|
233.27
|
1.11%
|
Houston,
TX
|
6.312%
|
241.20
|
100
|
245.48
|
1.77%
|
Cincinnati,
OH
|
6.119%
|
166.30
|
100
|
170.81
|
2.71%
|
Salt Lake City,
UT
|
5.495%
|
323.90
|
100
|
327.40
|
1.08%
|
Tampa, FL
|
5.361%
|
209.60
|
100
|
215.50
|
2.81%
|
Charlotte,
NC
|
5.354%
|
186.80
|
100
|
191.68
|
2.61%
|
Phoenix,
AZ
|
5.270%
|
232.50
|
100
|
243.04
|
4.53%
|
Jacksonville,
FL
|
4.776%
|
211.70
|
100
|
217.47
|
2.73%
|
Las Vegas,
NV
|
4.371%
|
133.30
|
100
|
143.69
|
7.79%
|
Raleigh,
NC
|
4.040%
|
197.10
|
100
|
200.94
|
1.95%
|
Columbus,
OH
|
3.167%
|
178.90
|
100
|
186.28
|
4.13%
|
Orlando,
FL
|
3.036%
|
180.00
|
100
|
186.00
|
3.33%
|
Tucson, AZ
|
1.867%
|
206.70
|
100
|
215.05
|
4.04%
|
Greensboro,
NC
|
1.789%
|
161.00
|
100
|
162.56
|
0.97%
|
Austin, TX
|
1.550%
|
316.10
|
100
|
321.54
|
1.72%
|
San Antonio,
TX
|
1.490%
|
226.50
|
100
|
228.61
|
0.93%
|
|
|
|
|
|
|
Cumulative
HPA
|
|
|
0.00%
|
|
2.59%
|
|
|
|
|
|
|
HPA Factor
(50% Cumulative HPA)
|
|
|
0.00%
|
|
1.30%
|
|
|
|
|
|
|
HPA
Amount
|
|
|
|
|
$
0.324
|
|
|
|
|
|
|
(1)
Actual POI Value as of June 30, 2013 represents the value as
published in the POI for each market as of the date of the final
prospectus for the 5% Series A Participating Preferred Shares and
will remain constant for purposes of calculating the HPA Amount
notwithstanding any subsequent revisions by the FHFA.
|
Contact: Peter J. Nelson
American Homes 4 Rent
Tel: (310) 774-5394
SOURCE American Homes 4 Rent