PHOENIX, Oct. 25, 2016 /PRNewswire/ -- American Housing Income Trust, Inc.® ("AHIT" or the "Company") (OTCQB: AHIT), an internally managed real estate investment trust (REIT) that owns and operates single-family rental properties, today announced an update to operations for the period ended September 30, 2016, highlighted by achieving 100% occupancy of its existing portfolio.
Current Status of Portfolio
American Housing Income Trust now owns a total of 59 properties in Arizona, Nevada, Texas, and New Mexico. These properties primarily consist of single-family homes built in the last 15 years, with a focus on acquiring newer homes with 3-4 bedrooms in good school districts with family-oriented communities in markets with strong rental demand.
Ultimately, AHIT believes that by internally managing a focused portfolio with potential for rent growth and home price appreciation that it can achieve returns for shareholders above that of larger peers in the REIT industry.
AHIT recently achieved 100% occupancy of property rentals on all of its existing properties and continues to operate with the goal of being a best-in-class manager for each of the locations in its portfolio.
Acquisition Pipeline and Recent Direct Public Offering Announcement
Over the past year, the Company has taken advantage of a robust pipeline of available properties at favorable rates as it builds its portfolio towards efficient scale. The Company continues to progress toward qualifying as a REIT for federal income tax purposes, with the understanding of its need for capital for the foreseeable future. The Company recently launched a $3.0 million direct public offering as a result of its recent post-effective amendment to its registration statement. Proceeds of the offering, which is being priced at $1.00 per share, are intended to expand the Company's single-family residence portfolio.
Jeff Howard, President and Chief Executive Officer of American Housing Income Trust, stated, "We are very pleased with the continued growth and improved property operating results throughout 2016, resulting in 100% occupancy across our portfolio. We continue to see attractive opportunities to acquire quality single-family homes and to improve our operating results as we achieve proper operating scale. As an internally-managed company with a focused portfolio, we believe AHIT has a distinct value proposition that both provides first-rate service for our renters while maximizing potential return for shareholders. We continue to see attractive opportunities to acquire quality single-family homes and to improve our operating results to drive increased cash flow and value creation "
Information about the Offering
Please email AHIT at email@example.com or call the Company at (623) 551-5808 if you have any questions. You may also obtain a written prospectus for the offering by contacting the Company at the foregoing email address and phone number or by writing to the Company at American Housing Income Trust, Inc., ATTN: Investor Relations, 34225 N. 27th Dr Bldg 5 Ste 238, Phoenix, AZ 85085. You may also find more information regarding the offering at http://ahitrust.com/Public-Offering.asp.
About American Housing Income Trust, Inc.
American Housing Income Trust Inc., is incorporated in the State of Maryland owns and operates single family rentals in Arizona, Nevada and Texas and has plans to scale its operations nationally. American Housing Income Trust Inc. is a publicly traded company on OTC Markets Group Inc. OTCQB listing venue as a compliant, fully reporting entity with the United States Securities and Exchange Commission. The Company's focus is on employing a disciplined acquisition strategy, operational efficiencies, as well as maintaining a full understanding of local, regional, and national housing fundamentals. As part of its marketing strategy, it promotes the benefits of single-family rental living compared to apartment dwelling. The company intends to qualify as a REIT for federal income tax purposes and would not be subject to federal income tax to the extent that it distributes at least 90% of its taxable income to its shareholders. American Housing Income Trust Inc. has incorporated the assets of its subsidiaries that launched their initial business plan to acquire portfolios of SFR's in 2010 and is headquartered in Phoenix, Arizona through its wholly-owned subsidiary, American Realty Partners, LLC. For information on American Housing Income Trust, visit www.ahitrust.com.
Forward Looking Statement
This press release contains forward-looking statements that relate to expectations, beliefs, projections, future plans and strategies, anticipated events and similar expressions. Forward-looking statements may be identified by use of words such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," or "potential" or similar words or phrases which are predictions of or indicate future events or trends. Statements such as those concerning potential acquisition activity, investment objectives, strategies, opportunities, other plans and objectives for future operations or economic performance are based on the Company's current expectations, plans, estimates, assumptions and beliefs that involve numerous risks and uncertainties. Any of these statements could prove to be inaccurate and actual events or investments and results of operations could differ materially from those expressed or implied, including the ability of the Company to qualify and operate as a REIT. To the extent that the Company's assumptions differ from actual results, the Company's ability to meet such forward-looking statements, including its ability to invest in a diversified portfolio of quality real estate investments and to qualify and operate as a REIT, may be significantly and negatively impacted. You are cautioned not to place undue reliance on any forward-looking statements and the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, new information, future events or other changes. Please refer to Company's filings with the Securities and Exchange Commission for further information.
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SOURCE American Housing Income Trust, Inc.