American Homes 4 Rent, L.P. 10-K Annual Report Fri Feb 22 2019

AGOURA HILLS, Calif., Feb. 21, 2019—American Homes 4 Rent (NYSE: AMH) (the “Company”), a leading provider of high quality single-family homes for rent, today announced its financial and operating results for the quarter and full year ended December 31, 2018.

Highlights


•	Total revenues increased 11.3% to $270.3 million for the fourth quarter of 2018 from $242.8 million for the fourth quarter of 2017.


•	Net income attributable to common shareholders totaled $17.6 million, or $0.06 income per diluted share, for the fourth quarter of 2018, compared to a net loss attributable to common shareholders of $22.0 million, or a $0.08 loss per diluted share, for the fourth quarter of 2017.


•	Core Funds from Operations attributable to common share and unit holders for the fourth quarter of 2018 was $98.5 million, or $0.28 per FFO share and unit, compared to $89.4 million, or $0.26 per FFO share and unit, for the same period in 2017, which represents a 7.0% increase on a per share and unit basis.


•	Adjusted Funds from Operations attributable to common share and unit holders for the fourth quarter of 2018 was $86.9 million, or $0.25 per FFO share and unit, compared to $79.8 million, or $0.23 per FFO share and unit, for the same period in 2017.


•	Core Net Operating Income ("Core NOI") margin on Same-Home properties was 65.6% for the fourth quarter of 2018, compared to 65.5% for the same period in 2017.


•	Core NOI after capital expenditures from Same-Home properties increased by 3.6% year-over-year for the fourth quarter of 2018.


•	Same-Home portfolio Average Occupied Days Percentage increased to 94.8% for the fourth quarter of 2018, compared to 94.0% for the fourth quarter of 2017, while achieving 3.4% growth in Average Monthly Realized Rent per property for the same comparable periods.


•	In November 2018, paid off the $115.0 million exchangeable senior notes (see “Capital Activities and Balance Sheet”).


•	In January 2019, issued $400.0 million of 4.90% unsecured senior notes due 2029 (see “Capital Activities and Balance Sheet”).

“American Homes 4 Rent had a strong finish to 2018, with a 3.6% growth in fourth quarter Core NOI after capital expenditures from Same-Home properties, fueled by an 80 basis point increase in average occupied days percentage and 3.4% growth in average monthly realized rent per property,” stated David Singelyn, American Homes 4 Rent’s Chief Executive Officer. “We are entering 2019 in a position of strength, with 2018 year-end portfolio occupancy 260 basis points higher than a year ago. Our teams have never been stronger and, coupled with the continued strong demand for single-family rentals, we are ideally positioned for profitable growth in 2019 and to create long-term value for our shareholders.”

Fourth Quarter 2018 Financial Results

Net income attributable to common shareholders totaled $17.6 million, or $0.06 income per diluted share, for the fourth quarter of 2018, compared to a net loss attributable to common shareholders of $22.0 million, or a $0.08 loss per diluted share, for the fourth quarter of 2017. This increase was primarily attributable to higher revenues resulting from a larger number of leased properties and higher rental rates, as well as the redemption of the Series A and Series B participating preferred shares through a conversion into Class A common shares during the fourth quarter of 2017.

The following information was filed by American Homes 4 Rent, L.P. on Thursday, February 21, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

American Homes 4 Rent, L.P. provided additional information to their SEC Filing as exhibits

Exhibit 10.17: Material Contract

Exhibit 21.1: Subsidaries Of The Registrant

Exhibit 21.2: Subsidaries Of The Registrant

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.3: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.4: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

CIK: 1716558
Form Type: 10-K Annual Report
Accession Number: 0001562401-19-000020
Submitted to the SEC: Fri Feb 22 2019 3:00:18 PM EST
Accepted by the SEC: Fri Feb 22 2019
Period: Monday, December 31, 2018
Industry: Real Estate Investment Trusts

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American Homes 4 Rent, L.P. (1716558) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

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