American Homes 4 Rent Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014
Feb 27 15
American Homes 4 Rent announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company had total revenues of $116.9 million against $64.890 million a year ago. Revenue growth was driven by continued strong leasing activity, as total leased portfolio grew by 2,089 homes during the fourth quarter of 2014. Loss from operations was $9,992,000 against $9,471,000 a year ago. Net loss attributable to common shareholders was $19,312,000 against $14,519,000 a year ago. Net loss per basic and diluted share were $0.09 against $0.08 a year ago. Net operating income was $68,030,000 against $40,000 a year ago. Core FFO was $42.0 million, or $0.16 per FFO share compared to $25.617 million, or $0.11 per FFO share a year ago. Core net operating income was $68,030,000 against $40,000 a year ago.
For the year the company produced total revenues were $398.9 million against $139.032 million a year ago. Loss from continuing operations was $33,092,000 against $20,074,000 a year ago. Net loss attributable to common shareholders was $66,985,000 against $43,927,000 a year ago. Net loss per basic and diluted share were $0.34 against $0.36 a year ago. Funds from operations was $107,530,000. NOI from leased properties totaled $232.3 million. This increase was primarily due to substantial growth in rental income resulting from a larger number of leased properties. Core FFO was $143.8 million, or $0.57 per FFO share. Core net operating income was $232,319,000.
American Homes 4 Rent Declares Dividend on Common Shares and Preferred Shares, Payable on March 31, 2015
Feb 27 15
American Homes 4 Rent announced that, on February 26, 2015, its Board of Trustees declared a dividend of $0.05 per share on the company's common shares for the first quarter of 2015. The distribution will be payable in cash on March 31, 2015 to shareholders of record on March 15, 2015.
The Board of Trustees also declared a quarterly distribution of $0.3125, $0.3125 and $0.34375 per share on each of the company's 5.000% Series A participating preferred shares, 5.000% Series B participating preferred shares and 5.5000% Series C participating preferred shares, respectively, payable on March 31, 2015 to shareholders of record on March 15, 2015.
American Homes 4 Rent Seeks Acquisitions
Feb 27 15
American Homes 4 Rent (NYSE:AMH) is looking for acquisition opportunities. “We continue to acquire high-quality assets that meet our financial underwriting. At the current pace for January and February, we expect to acquire 2,000 homes in the first quarter. In addition, we continue to have discussions with companies interested exploring a combination of our portfolios and operations. Not all portfolios will be attractive candidates, as we evaluate each opportunity on the quality of assets in the portfolio, the synergistic nature of such transaction, and the financial impact of the acquisition on the Company,” said David Singelyn, Chief Executive Officer of American Homes 4 Rent. He added, “With respect to capital, we remain focused on maintaining a strong balance sheet to support and utilize multiple sources of attractive priced capital, which we can access at times of our choosing. This will allow us to take advantage of acquisition opportunities as they arise.” “I don't know, but to acquire these high quality assets, I think we are still looking to acquire Assets,” David said.