American Homes 4 Rent Announces Home Price Appreciation Amounts for its 5% Series A, 5% Series B and 5.5% Series C Participatin

  American Homes 4 Rent Announces Home Price Appreciation Amounts for its 5%
    Series A, 5% Series B and 5.5% Series C Participating Preferred Shares

PR Newswire

AGOURA HILLS, Calif., May 28, 2014

AGOURA HILLS, Calif., May 28, 2014 /PRNewswire/ --American Homes 4 Rent
(NYSE: AMH), a leading provider of high quality single-family rental homes
("AMH," "the Company," "we" or "us"), today posted the revised "Home Price
Appreciation Factor" and "Home Price Appreciation Amount" through March 31,
2014, as those terms are defined in the final prospectuses for the Company's
5% Series A, 5% Series B and 5.5% Series C Participating Preferred Shares
(NYSE: AMHPRA, AMHPRB and AMHPRC). The computations of these amounts are
based on the results of the 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 March 31, 2014, which was
released May 27, 2014.

Based on the weighting among our top 20 markets established under the terms of
our 5% Series A and 5% Series B Participating Preferred Shares, cumulative
home price appreciation for the period from June 30, 2013 to March 31, 2014
was 3.36%, resulting in a Home Price Appreciation Factor of 1.68%. The Home
Price Appreciation Amount on our 5% Series A and 5% Series B Participating
Preferred Shares through March 31, 2014 was $0.420.

Additionally, based on the weighting among our top 20 markets established
under the terms of our 5.5% Series C Participating Preferred Shares,
cumulative home price appreciation for the period from December 31, 2013 to
March 31, 2014 was 0.68%, resulting in a Home Price Appreciation Factor of
0.34%. The Home Price Appreciation Amount on our 5.5% Series C Participating
Preferred Shares through March 31, 2014 was $0.085.

The computation of these amounts appears at the end of this press release and
has also been posted to the "For Investors" page of the Company's website
(www.americanhomes4rent.com). The Company anticipates announcing the next
update to these amounts in approximately three months.

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," "potential," "plan," "goal" or
other words that convey the uncertainty of future events or outcomes. Examples
of forward-looking statements contained in this press release 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, most of which are difficult
to predict and many of which are beyond the Company's control and could cause
actual results to differ materially from any future results, performance or
achievements expressed or implied by these forward-looking statements.
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 statements to conform to actual
results or changes in its expectations, unless required by applicable law. For
a further description of the risks and uncertainties that could cause actual
results to differ from those expressed in these forward-looking statements, as
well as risks relating to the business of the Company in general, see the
"Risk Factors" disclosed in the Company's Annual Report on Form 10-K for the
year ended December 31, 2013 that has been filed with the Securities and
Exchange Commission.

About American Homes 4 Rent

American Homes 4 Rent (NYSE: AMH) is 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. We are an internally managed Maryland real estate investment
trust, or REIT, focused on acquiring, renovating, leasing, and operating
attractive, single-family homes as rental properties. As of March 31, 2014, we
owned 25,505 single-family properties in selected submarkets in 22 states.
Our common stock is a component of the Russell 1000 and Russell 3000 Indexes.

Additional information about American Homes 4 Rent is available on the
Internet. The Company's website is www.AmericanHomes4Rent.com. 

Contact:

American Homes 4 Rent
Investor Relations
Phone: 855-794-2447
Email: investors@ah4r.com

Measurement of Aggregate HPA Amount Per
5% Series A and 5% Series B Participating Preferred Share (1)
March 31, 2014
                                   June 30, 2013       March 31, 2014
                       Relative
                                                                  POI Value
                       Weighting              Assigned
Metropolitan                       Actual POI          Actual POI Relative to
Statistical Area       Applied in             Baseline
                                   Value (2)           Value      Jun 30, 2013
                       Determining            Value
                                                                  Baseline
                       HPA
Dallas – Plano –       4.754%      194.12     100      201.49     3.80%
Irving, TX
Fort Worth –           4.754%      180.86     100      185.70     2.68%
Arlington, TX
Indianapolis, IN       8.880%      164.50     100      164.76     0.16%
Greater Chicago Area,  7.679%      182.20     100      178.84     -1.84%
IL
Atlanta, GA            7.545%      174.20     100      186.85     7.26%
Nashville, TN          6.390%      230.70     100      238.77     3.50%
Houston, TX            6.312%      241.20     100      255.74     6.03%
Cincinnati, OH         6.119%      166.30     100      167.15     0.51%
Salt Lake City, UT     5.495%      323.90     100      325.55     0.51%
Tampa, FL              5.361%      209.60     100      221.35     5.61%
Charlotte, NC          5.354%      186.80     100      185.90     -0.48%
Phoenix, AZ            5.270%      232.50     100      251.30     8.09%
Jacksonville, FL       4.776%      211.70     100      212.49     0.37%
Las Vegas, NV          4.371%      133.30     100      155.86     16.92%
Raleigh, NC            4.040%      197.10     100      202.83     2.91%
Columbus, OH           3.167%      178.90     100      183.91     2.80%
Orlando, FL            3.036%      180.00     100      186.06     3.37%
Tucson, AZ             1.867%      206.70     100      215.53     4.27%
Greensboro, NC         1.789%      161.00     100      160.01     -0.61%
Austin, TX             1.550%      316.10     100      331.22     4.78%
San Antonio, TX        1.490%      226.50     100      235.60     4.02%
Cumulative HPA                                                    3.36%
HPA Factor (50%                                                  1.68%
Cumulative HPA)
HPA Amount                                                        $   
                                                                  0.420



(1) The Actual POI Value and HPA Amount for each quarter since the issuance of
the 5% Series A and 5% Series B Participating Preferred Shares are available
on the Company's website on the "For Investors" page.
(2) Actual POI Value as of June 30, 2013 represents the value as published in
the POI for each market as of October 18, 2013 and will remain constant for
purposes of calculating the HPA Amount, notwithstanding any subsequent
revisions by the FHFA.



Measurement of Aggregate HPA Amount Per
5.5% Series C Participating Preferred Share
March 31, 2014
                                   December 31, 2013   March 31, 2014
                       Relative
                                                                  POI Value
                       Weighting              Assigned
Metropolitan                       Actual POI          Actual POI Relative to
Statistical Area       Applied in             Baseline
                                   Value(1)           Value      Dec 31, 2013
                       Determining            Value
                                                                  Baseline
                       HPA
Dallas – Plano –       4.754%      198.79     100      201.49     1.36%
Irving, TX
Fort Worth –           4.754%      186.40     100      185.70     -0.38%
Arlington, TX
Indianapolis, IN       8.880%      165.40     100      164.76     -0.39%
Greater Chicago        7.679%      185.58     100      178.84     -3.63%
Area,IL
Atlanta, GA            7.545%      179.66     100      186.85     4.00%
Nashville, TN          6.390%      237.75     100      238.77     0.43%
Houston, TX            6.312%      251.00     100      255.74     1.89%
Cincinnati, OH         6.119%      166.16     100      167.15     0.60%
Salt Lake City, UT     5.495%      323.59     100      325.55     0.61%
Tampa, FL              5.361%      218.28     100      221.35     1.41%
Charlotte, NC          5.354%      193.47     100      185.90     -3.91%
Phoenix, AZ            5.270%      247.72     100      251.30     1.45%
Jacksonville, FL       4.776%      216.03     100      212.49     -1.64%
Las Vegas, NV          4.371%      149.08     100      155.86     4.55%
Raleigh, NC            4.040%      198.65     100      202.83     2.10%
Columbus, OH           3.167%      180.44     100      183.91     1.92%
Orlando, FL            3.036%      181.11     100      186.06     2.73%
Tucson, AZ             1.867%      216.99     100      215.53     -0.67%
Greensboro, NC         1.789%      157.21     100      160.01     1.78%
Austin, TX             1.550%      317.68     100      331.22     4.26%
San Antonio, TX        1.490%      227.56     100      235.60     3.53%
Cumulative HPA                                                    0.68%
HPA Factor (50%                                                  0.34%
Cumulative HPA)
HPA Amount                                                        $   
                                                                  0.085



(1) Actual POI Value as of December 31, 2013 represents the value as published
in the POI for each market as of April 1, 2014 and will remain constant for
purposes of calculating the HPA Amount, notwithstanding any subsequent
revisions by the FHFA.



SOURCE American Homes 4 Rent
 
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