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News Release                                         
 
 
 
American Homes 4 Rent Reports Second Quarter 2018 Financial and Operating Results
AGOURA HILLS, Calif., August 2, 2018—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 June 30, 2018.
Highlights
Total revenues increased 11.6% to $264.5 million for the second quarter of 2018 from $237.0 million for the second quarter of 2017.
Net loss attributable to common shareholders totaled $15.2 million, or a $0.05 loss per diluted share, for the second quarter of 2018, compared to a net loss attributable to common shareholders of $0.2 million, or a $0.00 loss per diluted share, for the second quarter of 2017.
Core Funds from Operations attributable to common share and unit holders for the second quarter of 2018 was $93.6 million, or $0.27 per FFO share and unit, compared to $81.5 million, or $0.26 per FFO share and unit, for the same period in 2017, which represents a 3.8% increase on a per share and unit basis.
Adjusted Funds from Operations attributable to common share and unit holders for the second quarter of 2018 was $82.0 million, or $0.23 per FFO share and unit, compared to $71.2 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 64.4% for the second quarter of 2018, compared to 64.8% for the same period in 2017.
Core NOI after capital expenditures from Same-Home properties increased by 3.5% year-over-year for the second quarter of 2018.
Same-Home portfolio occupancy percentage increased to 96.6% as of June 30, 2018, from 96.0% as of March 31, 2018, while achieving 3.5% growth in average monthly realized rent per property for the second quarter of 2018, compared to the same period in 2017.
Redeemed the Series C participating preferred shares through a conversion into 10,848,827 Class A common shares (see "Capital Activities and Balance Sheet").
Paid down the term loan facility by $100.0 million and paid off the $48.4 million secured note payable in full.

“As we celebrate our fifth anniversary as a public company, we continue to demonstrate the power of our national operating platform and best-in-class team,” stated David Singelyn, American Homes 4 Rent's Chief Executive Officer. “During the second quarter, we had one of our strongest leasing periods ever, achieving a record high Same-Home portfolio occupancy of 96.6%, while driving blended lease spreads of 4.9%. As we look to the balance of the year, all areas of our diversified geographic portfolio remain healthy and we are confident that we can build off of our successful first half results. Further, our investment grade balance sheet and strong liquidity profile provide us with ample capacity to continue to accretively grow our portfolio and drive strong cash flow growth and value creation for our shareholders through the remainder of 2018 and beyond.”
Second Quarter 2018 Financial Results
Net loss attributable to common shareholders totaled $15.2 million, or a $0.05 loss per diluted share, for the second quarter of 2018, compared to a net loss attributable to common shareholders of $0.2 million, or a $0.00 loss per diluted share, for the second quarter of 2017. This decrease was primarily attributable to a noncash charge related to the redemption of the Series C participating preferred shares through a conversion into Class A common shares, partially offset by higher revenues resulting from a larger number of leased properties and higher rental rates.

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The following information was filed by American Homes 4 Rent (AMH) on Thursday, August 2, 2018 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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