AMH 10-Q report for 2026-03-31

American Homes 4 Rent (AMH or the General Partner) is an internally managed Maryland real estate investment trust (REIT).

AMH 10-Q report for 2026-03-31 amh-20260331 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2026 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission File Number: 001-36013 (American Homes 4 Rent) Commission File Number: 333-221878-02 (American Homes 4 Rent, L.P.) AMERICAN HOMES 4 RENT AMERICAN HOMES 4 RENT, L.P. (Exact name of registrant as specified in its charter) American Homes 4 Rent Maryland 46-1229660 American Homes 4 Rent, L.P. Delaware 80-0860173 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 280 Pilot Road Las Vegas , Nevada 89119 (Address of principal executive offices) (Zip Code) ( 805 ) 413-5300 (Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading symbols Name of each exchange on which registered Class A common shares of beneficial interest, $.01 par value AMH New York Stock Exchange Series G perpetual preferred shares of beneficial interest, $.01 par value AMH-G New York Stock Exchange Series H perpetual preferred shares of beneficial interest, $.01 par value AMH-H New York Stock Exchange Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. American Homes 4 Rent ☒ Yes ☐ No American Homes 4 Rent, L.P. ☒ Yes ☐  No Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). American Homes 4 Rent ☒ Yes ☐ No American Homes 4 Rent, L.P. ☒ Yes ☐ No Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. American Homes 4 Rent Large accelerated filer ☒ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☐ American Homes 4 Rent, L.P. Large accelerated filer ☐ Accelerated filer ☐ Non-accelerated filer ☒ Smaller reporting company ☐ Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. American Homes 4 Rent ☐ American Homes 4 Rent, L.P. ☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). American Homes 4 Rent ☐ Yes ☒ No American Homes 4 Rent, L.P. ☐ Yes ☒ No There were 359,960,517 shares of American Homes 4 Rent’s Class A common shares, $0.01 par value per share, and 635,075 shares of American Homes 4 Rent’s Class B common shares, $0.01 par value per share, outstanding on May 5, 2026. EXPLANATORY NOTE This report combines the quarterly reports on Form 10-Q for the period ended March 31, 2026 of American Homes 4 Rent and American Homes 4 Rent, L.P. Unless stated otherwise or the context otherwise requires, references to “AMH” or the “General Partner” mean American Homes 4 Rent, a Maryland real estate investment trust (“REIT”), and references to the “Operating Partnership” or the “OP” mean American Homes 4 Rent, L.P., a Delaware limited partnership, and its subsidiaries taken as a whole. References to the “Company,” “we,” “our” and “us” mean collectively AMH, the Operating Partnership and those entities/subsidiaries owned or controlled by AMH and/or the Operating Partnership. AMH is the general partner of, and as of March 31, 2026 owned approximately 87.9% of the common partnership interest in, the Operating Partnership. The remaining 12.1% of the common partnership interest was owned by limited partners. As the sole general partner of the Operating Partnership, AMH has exclusive control of the Operating Partnership’s day-to-day management. The Company’s management operates AMH and the Operating Partnership as one business, and the management of AMH consists of the same members as the management of the Operating Partnership. The Company believes that combining the quarterly reports on Form 10-Q of the Company and the Operating Partnership into this single report provide Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations” section that includes discrete information related to each entity. This report also includes separate Part I, “Item 4. Controls and Procedures” sections and separate Exhibits 31 and 32 certifications for each of the Company and the Operating Partnership in order to establish that the requisite certifications have been made and that the Company and the Operating Partnership are compliant with Rule 13a-15 or Rule 15d-15 of the Securities Exchange Act of 1934 and 18 U.S.C. §1350. In order to highlight the differences between the Company and the Operating Partnership, the separate sections in this report for the Company and the Operating Partnership specifically refer to the Company and the Operating Partnership. In the sections that combine disclosure of the Company and the Operating Partnership, this report refers to actions or holdings as being actions or holdings of the Company. Although the Operating Partnership is generally the entity that directly or indirectly enters into contracts and joint ventures and holds assets and debt, reference to the Company is appropriate because the Company is one business and the Company operates that business through the Operating Partnership. The separate discussions of the Company and the Operating Partnership in this report should be read in conjunction with each other to understand the results of the Company on a consolidated basis and how management operates the Company. American Homes 4 Rent American Homes 4 Rent, L.P. TABLE OF CONTENTS Page PART I FINANCIAL INFORMATION Item 1. Financial Statements (Unaudited) 1 American Homes 4 Rent Condensed Consolidated Balance Sheets as of March 31, 2026 and December 31, 2 025 1 Condensed Consolidated Statements of Operations for the three months ended March 31 , 202 6 and 2025 2 Condensed Consolidated Statements of Comprehensive Income for the three months ended March 31 , 202 6 and 2025 3 Condensed Consolidated Statements of Equity for the three months ended March 31 , 202 6 and 2025 4 Condensed Consolidated Statements of Cash Flows for the three months ended March 31 , 202 6 and 2025 6 American Homes 4 Rent, L.P. Condensed Consolidated Balance Sheets as of March 3 1 , 2 0 2 6 and December 31, 202 5 8 Condensed Consolidated Statements of Operations for the three months ended March 31 , 202 6 and 202 5 9 Condensed Consolidated Statements of Comprehensive Income for the three months ended March 31, 2026 and 2025 10 Condensed Consolidated Statements of Capital for the three months ended March 31 , 202 6 and 202 5 11 Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2026 and 202 5 13 American Homes 4 Rent and American Homes 4 Rent, L.P. Notes to Unaudited Condensed Consolidated Financial Statements 15 Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations 29 Item 3. Quantitative and Qualitative Disclosures About Market Risk 41 Item 4. Controls and Procedures 43 PART II OTHER INFORMATION Item 1. Legal Proceedings 44 Item 1A. Risk Factors 44 Item 2. Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities 44 Item 3. Defaults Upon Senior Securities 45 Item 4. Mine Safety Disclosures 45 Item 5. Other Information 45 Item 6. Exhibits 45 Signatures 47 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS Various statements contained in this Quarterly Report on Form 10-Q, including those that express a belief, expectation or intention, as well as those that are not statements of historical fact, are forward-looking statements. These forward-looking statements may relate to beliefs, expectations or intentions and similar statements concerning matters that are not of historical fact and are generally accompanied by words such as “estimate,” “project,” “predict,” “believe,” “expect,” “anticipate,” “intend,” “potential,” “plan,” “goal,” “outlook,” “guidance” or other words that convey the uncertainty of future events or outcomes. We have based these forward-looking statements on our current expectations and assumptions about future events. While our management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control and could cause actual results to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. These and other important factors, including those discussed or incorporated by reference under Part II, “Item 1A. Risk Factors,” Part I, “Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations” and elsewhere in this report and in our Annual Report on Form 10-K for the year ended December 31, 2025 (the “2025 Annual Report”) filed with the Securities and Exchange Commission (the “SEC”) may cause our actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. While forward-looking statements reflect our good faith beliefs, assumptions and expectations, they are not guarantees of future performance, and you should not unduly rely on them. The forward-looking statements in this Quarterly Report on Form 10-Q speak only as of the date of this report. We are not obligated to update or revise these statements as a result of new information, future events or otherwise, unless required by applicable law. i PART I—FINANCIAL INFORMATION Item 1. Financial Statements American Homes 4 Rent Condensed Consolidated Balance Sheets (Amounts in thousands, except share and per share data) March 31, 2026 December 31, 2025 (Unaudited) Assets Single-family properties: Land $ 2,418,410 $ 2,406,467 Buildings and improvements 12,058,732 11,971,961 Single-family properties in operation 14,477,142 14,378,428 Less: accumulated depreciation ( 3,443,333 ) ( 3,366,795 ) Single-family properties in operation, net 11,033,809 11,011,633 Single-family properties under development and development land 1,139,179 1,233,586 Single-family properties and land held for sale, net 235,549 225,861 Total real estate assets, net 12,408,537 12,471,080 Cash and cash equivalents 63,301 108,516 Restricted cash 144,863 122,174 Rent and other receivables 48,241 43,119 Escrow deposits, prepaid expenses and other assets 239,103 228,017 Investments in unconsolidated joint ventures 150,714 148,935 Goodwill 120,279 120,279 Total assets $ 13,175,038 $ 13,242,120 Liabilities Revolving credit facility $ 390,000 $ 360,000 Unsecured senior notes, net 4,737,926 4,735,735 Accounts payable and accrued expenses 447,118 436,879 Total liabilities 5,575,044 5,532,614 Commitments and contingencies (see Note 15) Equity Shareholders’ equity: Class A common shares ($ 0.01 par value per share, 450,000,000 shares authorized, 363,160,711 and 366,021,665 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively) 3,632 3,660 Class B common shares ($ 0.01 par value per share, 50,000,000 shares authorized, 635,075 shares issued and outstanding at March 31, 2026 and December 31, 2025) 6 6 Preferred shares ($ 0.01 par value per share, 100,000,000 shares authorized, 9,200,000 shares issued and outstanding at March 31, 2026 and December 31, 2025) 92 92 Additional paid-in capital 7,297,948 7,411,003 Accumulated deficit ( 380,213 ) ( 387,643 ) Accumulated other comprehensive income 6,320 6,630 Total shareholders’ equity 6,927,785 7,033,748 Noncontrolling interest 672,209 675,758 Total equity 7,599,994 7,709,506 Total liabilities and equity $ 13,175,038 $ 13,242,120 The accompanying notes are an integral part of these condensed consolidated financial statements. 1 American Homes 4 Rent Condensed Consolidated Statements of Operations (Amounts in thousands, except share and per share data) (Unaudited) For the Three Months Ended March 31, 2026 2025 Rents and other single-family property revenues $ 472,024 $ 459,276 Expenses: Property operating expenses 168,709 167,530 Property management expenses 33,284 34,181 General and administrative expense 21,332 19,671 Interest expense 48,222 45,426 Acquisition, disposition and other transaction costs 3,060 3,061 Depreciation and amortization 127,344 124,928 Total expenses 401,951 394,797 Gain on sale and impairment of single-family properties and other, net 78,444 62,016 Loss on early extinguishment of debt — ( 216 ) Other income and expense, net 327 2,434 Net income 148,844 128,713 Noncontrolling interest 17,590 15,255 Dividends on preferred shares 3,486 3,486 Net income attributable to common shareholders $ 127,768 $ 109,972 Weighted-average common shares outstanding: Basic 364,281,692 370,372,388 Diluted 364,498,367 370,761,741 Net income attributable to common shareholders per share: Basic $ 0.35 $ 0.30 Diluted $ 0.35 $ 0.30 The accompanying notes are an integral part of these condensed consolidated financial statements. 2 American Homes 4 Rent Condensed Consolidated Statements of Comprehensive Income (Amounts in thousands) (Unaudited) For the Three Months Ended March 31, 2026 2025 Net income $ 148,844 $ 128,713 Other comprehensive loss: Cash flow hedging instruments: Unrealized loss on cash flow hedging instruments — ( 1,549 ) Reclassification adjustment for amortization of interest expense included in net income ( 352 ) ( 351 ) Other comprehensive loss ( 352 ) ( 1,900 ) Comprehensive income 148,492 126,813 Comprehensive income attributable to noncontrolling interests 17,554 15,021 Dividends on preferred shares 3,486 3,486 Comprehensive income attributable to common shareholders $ 127,452 $ 108,306 The accompanying notes are an integral part of these condensed consolidated financial statements. 3 American Homes 4 Rent Condensed Consolidated Statements of Equity (Amounts in thousands, except share and per share data) (Unaudited) Class A common shares Class B common shares Preferred shares Number of shares Amount Number of shares Amount Number of shares Amount Additional paid-in capital Accumulated deficit Accumulated other comprehensive income Shareholders’ equity Noncontrolling interest Total equity Balances at December 31, 2024 368,987,993 $ 3,690 635,075 $ 6 9,200,000 $ 92 $ 7,529,008 $ ( 380,632 ) $ 7,852 $ 7,160,016 $ 688,614 $ 7,848,630 Share-based compensation —  —  —  —  —  —  7,661 —  —  7,661 —  7,661 Common stock issued under share-based compensation plans, net of shares withheld for employee taxes 537,128 5 —  —  —  —  ( 10,375 ) —  —  ( 10,370 ) —  ( 10,370 ) Distributions to equity holders: Preferred shares (Note 10) —  —  —  —  —  —  —  ( 3,486 ) —  ( 3,486 ) —  ( 3,486 ) Noncontrolling interests —  —  —  —  —  —  —  —  —  —  ( 15,413 ) ( 15,413 ) Common shares ($ 0.30 per share) —  —  —  —  —  —  —  ( 111,724 ) —  ( 111,724 ) —  ( 111,724 ) Net income —  —  —  —  —  —  —  113,458 —  113,458 15,255 128,713 Total other comprehensive loss —  —  —  —  —  —  —  —  ( 1,666 ) ( 1,666 ) ( 234 ) ( 1,900 ) Balances at March 31, 2025 369,525,121 $ 3,695 635,075 $ 6 9,200,000 $ 92 $ 7,526,294 $ ( 382,384 ) $ 6,186 $ 7,153,889 $ 688,222 $ 7,842,111 4 American Homes 4 Rent Condensed Consolidated Statements of Equity (continued) (Amounts in thousands, except share and per share data) (Unaudited) Class A common shares Class B common shares Preferred shares Number of shares Amount Number of shares Amount Number of shares Amount Additional paid-in capital Accumulated deficit Accumulated other comprehensive income Shareholders’ equity Noncontrolling interest Total equity Balances at December 31, 2025 366,021,665 $ 3,660 635,075 $ 6 9,200,000 $ 92 $ 7,411,003 $ ( 387,643 ) $ 6,630 $ 7,033,748 $ 675,758 $ 7,709,506 Share-based compensation —  —  —  —  —  —  6,760 —  —  6,760 —  6,760 Common stock issued under share-based compensation plans, net of shares withheld for employee taxes 452,767 5 —  —  —  —  ( 9,256 ) —  —  ( 9,251 ) —  ( 9,251 ) Redemptions of Class A units 340,000 3 —  —  —  —  4,549 —  6 4,558 ( 4,558 ) — Repurchases of Class A common shares ( 3,653,721 ) ( 36 ) —  —  —  —  ( 115,108 ) —  —  ( 115,144 ) —  ( 115,144 ) Distributions to equity holders: Preferred shares (Note 10) —  —  —  —  —  —  —  ( 3,486 ) —  ( 3,486 ) —  ( 3,486 ) Noncontrolling interests —  —  —  —  —  —  —  —  —  —  ( 16,545 ) ( 16,545 ) Common shares ($ 0.33 per share) —  —  —  —  —  —  —  ( 120,338 ) —  ( 120,338 ) —  ( 120,338 ) Net income —  —  —  —  —  —  —  131,254 —  131,254 17,590 148,844 Total other comprehensive loss —  —  —  —  —  —  —  —  ( 316 ) ( 316 ) ( 36 ) ( 352 ) Balances at March 31, 2026 363,160,711 $ 3,632 635,075 $ 6 9,200,000 $ 92 $ 7,297,948 $ ( 380,213 ) $ 6,320 $ 6,927,785 $ 672,209 $ 7,599,994 The accompanying notes are an integral part of these condensed consolidated financial statements. 5 American Homes 4 Rent Condensed Consolidated Statements of Cash Flows (Amounts in thousands) (Unaudited) For the Three Months Ended March 31, 2026 2025 Operating activities Net income $ 148,844 $ 128,713 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 127,344 124,928 Noncash amortization of deferred financing costs, debt discounts and cash flow hedging instruments 2,408 2,485 Noncash share-based compensation 6,760 7,661 Loss on early extinguishment of debt — 216 Equity in net loss of unconsolidated entities 1,192 915 Return on investment from unconsolidated joint ventures — 1,659 Gain on sale and impairment of single-family propertie Item 1A. Risk Factors 44 Item 2. Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities 44 Item 3. Defaults Upon Senior Securities 45 Item 4. Mine Safety Disclosures 45 Item 5. Other Information 45 Item 6. Exhibits 45 Signatures 47 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS Various statements contained in this Quarterly Report on Form 10-Q, including those that express a belief, expectation or intention, as well as those that are not statements of historical fact, are forward-looking statements. These forward-looking statements may relate to beliefs, expectations or intentions and similar statements concerning matters that are not of historical fact and are generally accompanied by words such as “estimate,” “project,” “predict,” “believe,” “expect,” “anticipate,” “intend,” “potential,” “plan,” “goal,” “outlook,” “guidance” or other words that convey the uncertainty of future events or outcomes. We have based these forward-looking statements on our current expectations and assumptions about future events. While our management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control and could cause actual results to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. These and other important factors, including those discussed or incorporated by reference under Part II, “Item 1A. Risk Factors,” Part I, “Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations” and elsewhere in this report and in our Annual Report on Form 10-K for the year ended December 31, 2025 (the “2025 Annual Report”) filed with the Securities and Exchange Commission (the “SEC”) may cause our actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. While forward-looking statements reflect our good faith beliefs, assumptions and expectations, they are not guarantees of future performance, and you should not unduly rely on them. The forward-looking statements in this Quarterly Report on Form 10-Q speak only as of the date of this report. We are not obligated to update or revise these statements as a result of new information, future events or otherwise, unless required by applicable law. i PART I—FINANCIAL INFORMATION Item 1. Financial Statements American Homes 4 Rent Condensed Consolidated Balance Sheets (Amounts in thousands, except share and per share data) March 31, 2026 December 31, 2025 (Unaudited) Assets Single-family properties: Land $ 2,418,410 $ 2,406,467 Buildings and improvements 12,058,732 11,971,961 Single-family properties in operation 14,477,142 14,378,428 Less: accumulated depreciation ( 3,443,333 ) ( 3,366,795 ) Single-family properties in operation, net 11,033,809 11,011,633 Single-family properties under development and development land 1,139,179 1,233,586 Single-family properties and land held for sale, net 235,549 225,861 Total real estate assets, net 12,408,537 12,471,080 Cash and cash equivalents 63,301 108,516 Restricted cash 144,863 122,174 Rent and other receivables 48,241 43,119 Escrow deposits, prepaid expenses and other assets 239,103 228,017 Investments in unconsolidated joint ventures 150,714 148,935 Goodwill 120,279 120,279 Total assets $ 13,175,038 $ 13,242,120 Liabilities Revolving credit facility $ 390,000 $ 360,000 Unsecured senior notes, net 4,737,926 4,735,735 Accounts payable and accrued expenses 447,118 436,879 Total liabilities 5,575,044 5,532,614 Commitments and contingencies (see Note 15) Equity Shareholders’ equity: Class A common shares ($ 0.01 par value per share, 450,000,000 shares authorized, 363,160,711 and 366,021,665 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively) 3,632 3,660 Class B common shares ($ 0.01 par value per share, 50,000,000 shares authorized, 635,075 shares issued and outstanding at March 31, 2026 and December 31, 2025) 6 6 Preferred shares ($ 0.01 par value per share, 100,000,000 shares authorized, 9,200,000 shares issued and outstanding at March 31, 2026 and December 31, 2025) 92 92 Additional paid-in capital 7,297,948 7,411,003 Accumulated deficit ( 380,213 ) ( 387,643 ) Accumulated other comprehensive income 6,320 6,630 Total shareholders’ equity 6,927,785 7,033,748 Noncontrolling interest 672,209 675,758 Total equity 7,599,994 7,709,506 Total liabilities and equity $ 13,175,038 $ 13,242,120 The accompanying notes are an integral part of these condensed consolidated financial statements. 1 American Homes 4 Rent Condensed Consolidated Statements of Operations (Amounts in thousands, except share and per share data) (Unaudited) For the Three Months Ended March 31, 2026 2025 Rents and other single-family property revenues $ 472,024 $ 459,276 Expenses: Property operating expenses 168,709 167,530 Property management expenses 33,284 34,181 General and administrative expense 21,332 19,671 Interest expense 48,222 45,426 Acquisition, disposition and other transaction costs 3,060 3,061 Depreciation and amortization 127,344 124,928 Total expenses 401,951 394,797 Gain on sale and impairment of single-family properties and other, net 78,444 62,016 Loss on early extinguishment of debt — ( 216 ) Other income and expense, net 327 2,434 Net income 148,844 128,713 Noncontrolling interest 17,590 15,255 Dividends on preferred shares 3,486 3,486 Net income attributable to common shareholders $ 127,768 $ 109,972 Weighted-average common shares outstanding: Basic 364,281,692 370,372,388 Diluted 364,498,367 370,761,741 Net income attributable to common shareholders per share: Basic $ 0.35 $ 0.30 Diluted $ 0.35 $ 0.30 The accompanying notes are an integral part of these condensed consolidated financial statements. 2 American Homes 4 Rent Condensed Consolidated Statements of Comprehensive Income (Amounts in thousands) (Unaudited) For the Three Months Ended March 31, 2026 2025 Net income $ 148,844 $ 128,713 Other comprehensive loss: Cash flow hedging instruments: Unrealized loss on cash flow hedging instruments — ( 1,549 ) Reclassification adjustment for amortization of interest expense included in net income ( 352 ) ( 351 ) Other comprehensive loss ( 352 ) ( 1,900 ) Comprehensive income 148,492 126,813 Comprehensive income attributable to noncontrolling interests 17,554 15,021 Dividends on preferred shares 3,486 3,486 Comprehensive income attributable to common shareholders $ 127,452 $ 108,306 The accompanying notes are an integral part of these condensed consolidated financial statements. 3 American Homes 4 Rent Condensed Consolidated Statements of Equity (Amounts in thousands, except share and per share data) (Unaudited) Class A common shares Class B common shares Preferred shares Number of shares Amount Number of shares Amount Number of shares Amount Additional paid-in capital Accumulated deficit Accumulated other comprehensive income Shareholders’ equity Noncontrolling interest Total equity Balances at December 31, 2024 368,987,993 $ 3,690 635,075 $ 6 9,200,000 $ 92 $ 7,529,008 $ ( 380,632 ) $ 7,852 $ 7,160,016 $ 688,614 $ 7,848,630 Share-based compensation —  —  —  —  —  —  7,661 —  —  7,661 —  7,661 Common stock issued under share-based compensation plans, net of shares withheld for employee taxes 537,128 5 —  —  —  —  ( 10,375 ) —  —  ( 10,370 ) —  ( 10,370 ) Distributions to equity holders: Preferred shares (Note 10) —  —  —  —  —  —  —  ( 3,486 ) —  ( 3,486 ) —  ( 3,486 ) Noncontrolling interests —  —  —  —  —  —  —  —  —  —  ( 15,413 ) ( 15,413 ) Commo Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” of the 2025 Annual Report. There have been no material changes to these estimates during the three months ended March 31, 2026. Recent Accounting Pronouncements See Note 2. Significant Accounting Policies to our condensed consolidated financial statements in this report for a discussion of the adoption and potential impact of recently issued accounting standards, if any. Liquidity and Capital Resources Liquidity is a measure of our ability to meet potential cash requirements, maintain our assets, fund our operations, make distributions to our shareholders and OP unitholders, including AMH, and meet other general requirements of our business. Our liquidity, to a certain extent, is subject to general economic, financial, competitive and other factors beyond our control. Sources of Capital We expect to satisfy our cash requirements through cash provided by operations, long-term secured and unsecured borrowings, issuances of debt and equity securities (including OP units), property dispositions and joint venture transactions. We expect to meet our operating liquidity requirements and our dividend distributions generally through cash on hand and cash provided by operations. For our development expenditures, we expect to supplement these sources through the issuance of equity securities, including under our At-the-Market Program described below, borrowings under our $1.25 billion credit facility, issuances of unsecured senior notes, and proceeds from sales of single-family properties. However, our real estate assets are illiquid in nature. A timely liquidation of assets might not be a viable source of short-term liquidity should a cash flow shortfall arise, and we may need to source liquidity from other financing alternatives including drawing on our revolving credit facility. Our liquidity and capital resources as of March 31, 2026 included $63.3 million of cash and cash equivalents. Additionally, as of March 31, 2026, we had $390.0 million of outstanding borrowings and $3.0 million committed to outstanding letters of credit under our $1.25 billion revolving credit facility, leaving $857.0 million of remaining borrowing capacity. Under our At-the-Market Program discussed below, we also had $753.7 million remaining available for future share issuances as of March 31, 2026. We maintain an investment grade credit rating which provides for greater availability of and lower cost of debt financing. Uses of Capital Our expected material cash requirements over the next twelve months consist of (i) contractually obligated expenditures, including interest payments, (ii) other essential expenditures, including property operating expenses, HOA fees (as applicable), real estate taxes, maintenance capital expenditures, general and administrative expenses and dividends on our equity securities including those paid in accordance with REIT distribution requirements, and (iii) opportunistic expenditures, including to pay for the development and renovation of our properties and repurchases of our securities. With respect to our contractually obligated expenditures, our cash requirements within the next twelve months include accounts payable and accrued expenses, interest payments on debt obligations, operating lease obligations and purchase commitments to 37 acquire land for our AMH Development Program. Except as described in Note 8. Debt, Note 9. Accounts Payable and Accrued Expenses, Note 15. Commitments and Contingencies and Note 17. Subsequent Events to our condensed consolidated financial statements in this report, there have been no other material changes outside the ordinary course of business to our other known contractual obligations described in “Liquidity and Capital Resources” in Part II, “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the 2025 Annual Report. Cash Flows The following table summarizes the Company’s and the Operating Partnership’s cash flows for the three months ended March 31, 2026 and 2025 (amounts in thousands): For the Three Months Ended March 31, 2026 2025 Change Net cash provided by operating activities $ 203,060  $ 223,403  $ (20,343) Net cash provided by (used for) investing activities 10,254  (107,689) 117,943  Net cash used for financing activities (235,840) (247,072) 11,232  Net decrease in cash, cash equivalents and restricted cash $ (22,526) $ (131,358) $ 108,832  Operating Activities Our cash flows provided by operating activities, which is our principal source of cash flows, depend on numerous factors, including the occupancy level of our properties, the rental rates achieved on our leases, the collection of rent from our tenants and the level of property operating expenses, property management expenses, general and administrative expense and interest expense. Net cash provided by operating activities decreased $20.3 million, or 9.1%, fro

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The provided excerpt is only the boilerplate cover/filing-status section of Teucrium Commodity Trust’s Form 10‑Q for period ended 2026‑03‑31, with no portfolio holdings, performance, risk, or material updates included. As-is, it contains no actionable investment information beyond confirming the existence of the filing and the issuer/ticker identity (WEAT).

The provided text is only the cover/header portion of Archer Aviation’s Form 10‑Q for the quarter ended 2026‑03‑31 (issuer identity, exchange listing, and securities outstanding). It contains no operating/financial results, guidance, liquidity details, backlog, or risk-factor updates—so it is minimally actionable for trading beyond basic security identifiers and a generic dilution/optionality consideration from warrants.

This excerpt is essentially the cover page of CleanSpark, Inc.’s Form 10-Q for the quarter ended March 31, 2026. It contains identifiers (CIK/file no.), listing venue, and security descriptions (common stock and redeemable warrants with specific exercise terms), but no operating/financial results, guidance, risks, or MD&A detail. Actionability is therefore limited to capital-structure/dilution considerations around the listed warrant.

This excerpt of AST SpaceMobile’s 10‑Q is largely SEC cover-page/boilerplate (registrant info, exchange listing, filing compliance) and contains no financial results, guidance, liquidity, risk-factor updates, or operating metrics. As provided, it does not create a clear tradable catalyst beyond confirming continued reporting/listing status.

This excerpt only includes the cover page of Super Micro Computer, Inc.’s Form 10‑Q for the quarter ended March 31, 2026. It confirms the filing, issuer identity, listing (Nasdaq), and ticker (SMCI), but contains no financial results, guidance, risks, or MD&A content to support a directional investment view.