Succession planning, green housing, and more on the future of AMH

Today, AMH reported another strong quarter of results, demonstrating its resilience throughout economic cycles and its enduring ability to deliver value to an underserved housing market. The team also announced a plan for the succession of its executive leadership later this year. Here are the highlights we shared with investors this morning:

We made history once again

Innovation is in our DNA. In 2012, AMH pioneered the single-family rental industry by professionalizing the management of homes at scale, benefitting thousands of residents nationwide. Last month, AMH once again made history by becoming the first single-family rental REIT to issue green bonds in the U.S. investment-grade market, highlighting our focus on energy efficiency and sustainable construction. The $600M green bond will be used to fund a portion of our 2024 capital plan, advancing efforts to make suburban houses more sustainable and low-emitting through green buildings, water-saving technologies, renewable energy, electric vehicle infrastructure, and more. Read the full press release here.

The team is evolving

Our CEO David Singelyn announced his intent to retire at the end of 2024. COO Bryan Smith will succeed him on January 1, 2025. Additionally, CFO Chris C. Lau was promoted to the elevated role of Senior Executive Vice President. “We believe that Bryan, with his deep knowledge of the company and all facets of its business, is uniquely positioned to lead the company as it executes on its strategic growth plan,” said Matthew J. Hart, Chairperson of the Board. “Together with Chris, we have two energized, dynamic executives who will lead the company to even greater heights in the future.” Read the full press release here.

But our focus remains the same

We continue to do what we do best: offering high-quality housing options to families around the country, where they most want to live.

• In 2023, we contributed solutions to the national housing shortage by delivering 2,317 newly constructed homes, totaling about 10,000 homes built by the AMH team since founding our development program. KUSA-TV, 9NEWS recently reported on one of our new communities in Colorado:

• We continued to serve the needs of hard-working households around the country by providing accessible pathways to single-family living in an inflationary landscape. Occupancy remained healthy at 96.2%, confirming high demand for rental housing at a time when CNBC reports that “mortgage rates still remain too high for many prospective buyers”:

• As part of our commitment to the people who support and rely on our stability, we continued to grow responsibly by tempering our acquisitions, leaning into dispositions, and strengthening our balance sheet. See details of our Q4 results:

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