American Homes 4 Rent Inc. reported a strong third quarter helped by the housing shortage, an increase in the number of homes in its portfolio and higher rental rates. 

The Calabasas provider of single-family homes for rent reported on Nov. 4 net income of $37 million (11 cents a share) for the quarter ending Sept. 30, compared to net income of $23 million (7 cents) in the same period a year earlier. Revenue increased by 10 percent to $340 million. 

In a release, the company attributed the net income increase to growth in the company’s portfolio, a larger number of occupied properties and higher rental rates and fees.


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