American Homes 4 Rent

Greetings. Welcome to the American Homes for Rent third quarter 2021 earnings call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. Please note this conference is being recorded. I will now turn the conference over to your host, Nick Fromm, Senior Manager, Investor Relations. Thank you. You may begin.

Good morning. Thank you for joining us for our third quarter 2021 earnings conference call. With me today are David Singlen, Chief Executive Officer, Brian Smith, Chief Operating Officer, Jack Corrigan, Chief Investment Officer, and Chris Lau, Chief Financial Officer. Please be advised that this call may include forward-looking statements. All statements other than statements of historical fact included in this conference call are forward-looking statements that are subject to a number of risks and uncertainties that could cause actual results to differ materially from those projected in these statements. These risks and other factors that could adversely affect our business and future results are described in our press releases and in our filings with the SEC. All forward-looking statements speak only as of today, November 5th, 2021. We assume no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. A reconciliation of GAAP to non-GAAP financial measures is included in our earnings press release and supplemental information package. As a note, our operating and financial results, including GAAP and non-GAAP measures, are fully detailed in our earnings release and supplemental information package. You can find these documents, as well as SEC reports and the audio webcast replay of this conference call, on our website at www.americanhomesforrent.com. With that, I will turn the call over to our CEO, David Singleton.

Thank you, Nick. Good morning, and thank you for joining us today. American Homes for Rent delivered a strong third quarter consistent with what we have seen throughout 2021. We continue to set ourselves apart from our peers with a platform that is unmatched in its totality, highlighted by our 2021 core FFO growth expectation exceeding 17%. As we begin to turn our focus to 2022, our diversified portfolio is well positioned to benefit from the country's migration patterns. America remains in the midst of a housing crisis that will last for many years to come. It is estimated that more than 5 million households need housing that is not available today. As one of the largest home builders in the United States, we continue to address this issue through our innovation of the SFR space by building new Class A owned communities. With our superior property management and customer care, we're delivering an exceptional single-family home experience while contributing to the appeal and character of local communities. We continue to invest in our home building operations to expand this significant growth channel in future years. Our 2021 build-to-rent delivery target outlined at the beginning of the year remains unchanged. Through advanced planning and strategic sourcing, we have successfully navigated the well-publicized supply chain headwinds to maintain our new home development and delivery schedule. Jack will elaborate more on this later. Given that all areas of the business are performing extremely well, we are raising guidance for the remainder of 2021. As I close, I remind you of what I said at the beginning of the year. Our top strategic priorities are to deliver strong and consistent operating results and sustained growth. While we are about to close out arguably the best year in company history, I am even more optimistic about our future in 2022, 2023, and beyond. Robust rental demand and our pipeline of more than 16,000 development lots positions us for predictable industry-leading growth. I thank our teams across the 22 states we operate in for their commitment to providing quality housing for our residents and making our growth strategy a reality. Your continued hard work and dedication have earned the trust of our residents while enabling the company to deliver superior results. Now I'll turn it over to Brian for more details on our operations. Brian?