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Friday, Mar 29, 2024

Home Prices Help American Homes Bonds

American Homes 4 Rent on Friday posted its revised “Home Price Appreciation Factor,” which affects returns for the company’s preferred shares. The Agoura Hills real estate investment trust, which owns single-family homes, used Federal Housing Finance Agency data published May 24 to calculate the price appreciation for homes. Based on the weighting among its top 20 markets, cumulative home price appreciation for the period from June 30, 2013 to March 31, 2017 was 26.6 percent, resulting in a Home Price Appreciation Factor of 13.3 percent for the company’s Series A and Series B shares. Appreciation for Series C notes for the same period was 23.3 percent. American Homes 4 Rent (AMH) closed up Friday 1 cent, or a fraction of a percent, to $22.36 on the New York Stock Exchange.

Joel Russel
Joel Russel
Joel Russell joined the Los Angeles Business Journal in 2006 as a reporter. He transferred to sister publication San Fernando Valley Business Journal in 2012 as managing editor. Since he assumed the position of editor in 2015, the Business Journal has been recognized four times as the best small-circulation tabloid business publication in the country by the Alliance of Area Business Publishers. Previously, he worked as senior editor at Hispanic Business magazine and editor of Business Mexico.

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