Home Properties is a multifamily real estate investment trust (REIT) with operations primarily along the East Coast of the United States that is traded on the New York Stock Exchange under the ticker symbol HME. The Company owns, operates, acquires, and upgrades apartment communities. We adhere to a simple and straightforward business plan in our effort to provide investors with dependable financial returns that exceed those of comparable investments. Our communities generate excellent financial results through physical improvements and exhibit an unwavering commitment to customer service. Home Properties and its predecessor company have a proven track record of creating and preserving value in multifamily rental housing since 1967.
Our mission for investors and commitment to residents
Our mission is to maximize long-term shareholder value by acquiring, repositioning, developing, and managing market-rate apartment communities while enhancing the quality of life for our residents and providing employees with opportunities for growth and accomplishment.
Our vision is to be a prominent owner and manager of market-rate apartment communities located in high-barrier, high-growth markets.
Our business strategy includes
- Aggressively managing and improving our communities to achieve increased net operating income.
- Acquiring and repositioning apartment communities for long-term growth at prices that provide a positive spread over the Company’s long-term cost of capital.
- Developing new apartment communities on entitled raw land, on land adjacent to existing owned communities, and where there are density opportunities to replace existing garden apartments with mid- or high-rise structures.
- Recycling assets by disposing of properties that have reached their potential or are less efficient to operate due to size or remote location.
- Maintaining a strong and flexible capital structure with cost-effective access to the capital markets.
An investment in Home Properties stock generates a high current dividend yield, offers appreciation potential through internal and external growth, and provides diversification benefits within a balanced portfolio—all with relatively low risk.
Home Properties focuses on stable markets in suburbs of major metropolitan areas that have significant barriers to new construction, a favorable supply/demand relationship, high single-family home prices, stable job growth, reduced vulnerability to economic downturns, properties available for purchase at below their replacement cost, and large prime renter populations.
Home Properties has a proven track record of acquiring and repositioning mature, under-managed, C to B- apartment properties.
Solid properties which appeal to a broad range of residents...
Our communities provide quality housing at affordable prices, which appeal to a broad range of middle-income residents. Our properties are predominantly garden style and typically 35 to 40 years old.
Commitment to customer service...
"The Pledge" is a written guarantee of satisfaction that we’ve offered since 1995. It reinforces our commitment to quality and customer service throughout our organization.
Proven customer loyalty...
Building customer loyalty is vital to any business today. In our case, this has been demonstrated historically by having the lowest level of resident turnover in the public apartment sector. In addition, typically more than a quarter of new leases come from referrals by satisfied residents.
Access to capital...
Our Company has demonstrated its ability to raise equity capital efficiently through a variety of sources and market environments. We have a strong balance sheet and access to both secured and unsecured debt to fund future investment opportunities.