American Homes 4 Rent at NAREIT REITweek: Investor Conference Transcript

Feb 09, 2024

Jun 07, 2023 / 01:30PM GMT
Juan Carlos Sanabria - BMO Capital Markets Equity Research - MD & Senior U.S. Real Estate Analyst

Good morning. I'm Juan Sanabria from BMO. I'm very pleased to have AMH with us. Dave Singelyn, CEO and team are here. I'll hand it over to Dave to say some prepared remarks and introduce the team, and we'll go from there.

David P. Singelyn - American Homes 4 Rent - CEO & Trustee

Thank you, Juan. Thank you for moderating today. I'm joined today by, to my right -- I guess, your left, Chris Lau, our Chief Financial Officer; and to my left, Bryan Smith, Chief Operating Officer. Just maybe 30 or 60 seconds of opening comments. Operations for AMH or American Homes for the first quarter and second quarter have been very, very strong.

Occupancy continues to be strong in the 97-plus percent range. We're seeing some return to seasonality, more akin to what 2019 looked like prepandemic. Although it's not the peaks and valleys are not as steep as we had seen in 2019 and prior.

Rental rates continue to be very strong, very strong in the first quarter,

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