About Us > Our Company

Our Company

Home Properties is a real estate investment trust (REIT) with operations primarily in selected Northeast, Mid-Atlantic and Southeast Florida markets that is traded on the New York Stock Exchange under the ticker symbol HME. The Company owns, operates, develops, acquires and rehabilitates 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 extraordinary 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:

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 additional apartment communities with attractive returns at prices significantly below replacement costs;
• maintaining a conservative capital structure with efficient access to the capital markets.

Our 36,948 apartments, consisting of 35,798 owned apartments, 868 apartments managed as general partner, and 282 apartments managed for third parties, enable us to provide attractive, dependable returns to investors and to be the first choice of renters in our chosen markets.

Dependable returns...

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.

Stable markets...

Home Properties focuses on stable markets with little new construction, where we can purchase properties well below their replacement cost.

Value added...

Home Properties has a proven track record for acquiring and repositioning under-managed 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 senior and middle income residents. Our properties are typically 20-40 years old and are located in established suburban neighborhoods.

Commitment to customer service...

"The Pledge", our written customer satisfaction commitment to our residents—includes a money-back guarantee. The Pledge is more than just a marketing tool. It has proven to be a powerful way to reinforce our commitment to quality and customer service throughout our organization.

Appeals to senior residents...

The level of customer service we provide is particularly appealing to seniors, a growing segment of our population. Many communities feature community centers, with programs and activities organized by and for the benefit of our retired residents.

Proven customer loyalty...

Building customer loyalty is vital to any business today. In our case, this is demonstrated by low resident turnover. In 2008, resident turnover at our owned communities averaged only 42%—well below the national average of 55.3% for garden apartments.

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.

Motivated leadership team...

Our decentralized organization provides employees with the appropriate tools, authority, and motivation to achieve the goals of our communities and our investors.