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.