Subsequent Events

3 Months Ended

Mar. 31, 2022

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

In connection with the preparation of the accompanying condensed consolidated financial statements, we have evaluated events and transactions occurring after March 31, 2022, for potential recognition or disclosure.

Public Debt Offering

On March 25, 2022, we priced a public offering of $600,000 aggregate principal amount of 4.150% Senior Notes which mature in April 2032; and on April 5, 2022, we closed the offering and issued the related notes. On April 8, 2022, we used the net proceeds from these unsecured notes to make a voluntary prepayment of the then-outstanding balance of IH 2018-3, which resulted in a release of the loan’s collateral of 6,366 homes with a gross book value of $1,306,835 as of March 31, 2022, and a $395,500 voluntary prepayment on IH 2018-2.

Release of Collateral

On April 21, 2022, 574 homes with a gross book value of $98,792 as of March 31, 2022 were released from the collateral pool for IH 2017-1.

Share-Based Compensation

Achievement of absolute TSR and relative TSR at maximum dollar value for the 2019 Outperformance Awards was certified by the Compensation Committee in April 2022, and 2022 Outperformance Awards with an approximate aggregate grant-date fair value of $20,700 were issued on April 1, 2022. See Note 10 for additional information about the awards earned pursuant to of the 2019 Outperformance Awards and 2022 Outperformance Awards.

2021 ATM Equity Program

Subsequent to March 31, 2022, we issued 360,154 shares of our common stock generating net proceeds of $14,508 in settlement of transactions in place as of March 31, 2022.

Dividend Declaration

On April 20, 2022, our board of directors declared a dividend of $0.22 per share to stockholders of record on May 10, 2022, which is payable on May 27, 2022