Exhibit 99.1
ah4rlogoregistereda122.jpg


News Release
 
 
 
American Homes 4 Rent Reports Third Quarter 2019 Financial and Operating Results
AGOURA HILLS, Calif., Nov. 7, 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 ended September 30, 2019.
Highlights
Total revenues increased 6.5% to $298.3 million for the third quarter of 2019 from $280.1 million for the third quarter of 2018.
Net income attributable to common shareholders totaled $23.5 million, or $0.08 per diluted share, for the third quarter of 2019, compared to $15.2 million, or $0.05 per diluted share, for the third quarter of 2018.
Core Funds from Operations (“Core FFO”) attributable to common share and unit holders for the third quarter of 2019 was $97.4 million, or $0.28 per FFO share and unit, compared to $92.2 million, or $0.26 per FFO share and unit, for the third quarter of 2018, which represents a 5.4% increase on a per share and unit basis.
Adjusted Funds from Operations (“Adjusted FFO”) attributable to common share and unit holders for the third quarter of 2019 was $83.9 million, or $0.24 per FFO share and unit, compared to $79.4 million, or $0.23 per FFO share and unit, for the third quarter of 2018, which represents a 5.2% increase on a per share and unit basis.
Core Net Operating Income (“Core NOI”) from Same-Home properties increased by 2.5% year-over year for the third quarter of 2019. Core NOI After Capital Expenditures from Same-Home properties increased by 2.0% year-over-year for the third quarter of 2019.
Maintained strong Same-Home portfolio Average Occupied Days Percentage of 95.1% while achieving a 3.6% year-over-year growth in Average Monthly Realized Rent per property for the third quarter of 2019.
Raised Full Year 2019 Core FFO attributable to common share and unit holders guidance by $0.01 per share and unit at the midpoint to a range of $1.10 to $1.12, along with updates to certain other components to 2019 guidance.

“The American Homes 4 Rent platform continues to deliver strong and consistent operating results as we prepare for our next chapter of growth,” stated David Singelyn, American Homes 4 Rent’s Chief Executive Officer. “To date, we’ve strategically invested into building a one-of-a-kind internal development program that, when coupled with our operating platform and best-in-class balance sheet, clearly differentiates AMH and positions our portfolio for outsized growth. We are excited to be on the forefront of the built-for-rental home opportunity, which has the potential to both revolutionize our industry and further enhance long-term value creation for our shareholders.”
Third Quarter 2019 Financial Results
On January 1, 2019, the Company adopted the new lease accounting standard, ASU No. 2016-02, which prospectively results in a larger portion of internal leasing costs being expensed that were previously capitalized. For purposes of comparability, applicable prior period non-GAAP financial metrics have been conformed to reflect the new lease accounting standard. Refer to Non-GAAP Financial Measures for further information.
Net income attributable to common shareholders totaled $23.5 million, or $0.08 per diluted share, for the third quarter of 2019, compared to $15.2 million, or $0.05 per diluted share, for the third quarter of 2018. This improvement was primarily attributable to higher revenues resulting from a larger number of occupied properties and higher rental rates, which were offset in part by higher property operating expenses and property management expenses, as well as an increase in gain on sale of single-family properties and other, net.

1

The following information was filed by American Homes 4 Rent, L.P. on Thursday, November 7, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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