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News Release                                         
 
 
 
American Homes 4 Rent Reports Second Quarter 2019 Financial and Operating Results
AGOURA HILLS, Calif., July 29, 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 June 30, 2019.
Highlights
Total revenues increased 6.6% to $281.9 million for the second quarter of 2019 from $264.5 million for the second quarter of 2018.
Net income attributable to common shareholders totaled $22.5 million, or $0.08 per diluted share, for the second quarter of 2019, compared to a net loss attributable to common shareholders of $15.2 million, or a $0.05 loss per diluted share, for the second quarter of 2018.
Core Funds from Operations (“Core FFO”) attributable to common share and unit holders for the second quarter of 2019 was $98.2 million, or $0.28 per FFO share and unit, compared to $91.9 million, or $0.26 per FFO share and unit, for the same period in 2018, which represents a 6.5% increase on a per share and unit basis.
Adjusted Funds from Operations attributable to common share and unit holders for the second quarter of 2019 was $86.8 million, or $0.25 per FFO share and unit, compared to $82.0 million, or $0.23 per FFO share and unit, for the second quarter of 2018.
Core Net Operating Income (“Core NOI”) from Same-Home properties increased by 3.6% year-over year for the second quarter of 2019. Core NOI after capital expenditures from Same-Home properties increased by 2.6% year-over-year for the second quarter of 2019.
Same-Home portfolio Average Occupied Days Percentage increased to 95.7% for the second quarter of 2019, compared to 95.3% for the second quarter of 2018, while achieving a 3.7% growth in Average Monthly Realized Rent per property for the same comparable periods.

“American Homes 4 Rent had a strong second quarter with continued operational excellence driving a 7% year-over-year increase in Core FFO per share,” stated David Singelyn, American Homes 4 Rent’s Chief Executive Officer. “Our best-in-class platform and team once again demonstrated their ability to capture the strength of the spring leasing season, driving a 4.4% year-over-year growth in second quarter Same-Home core revenues. Further, we continue to enhance the quality of our portfolio as we strategically recycle capital from asset sales into the expansion of our industry leading built-for-rental program, which we believe has the long-term potential to revolutionize the single-family rental sector. With our flexible and conservative balance sheet that supports our growth strategy, we are confident in our ability to continue delivering consistent operating results and long term value creation for our shareholders.”
Second 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 $22.5 million, or $0.08 per diluted share, for the second quarter of 2019, compared to a net loss attributable to common shareholders of $15.2 million, or a $0.05 loss per diluted share, for the second quarter of 2018. This improvement was primarily attributable to higher revenues resulting from a larger number of occupied properties and higher rental rates, an increase in gain on sale of single-family properties and other, net and a noncash charge related

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The following information was filed by American Homes 4 Rent (AMH) on Monday, July 29, 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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