American Homes 4 Rent announced on Thursday yet another public offering of preferred shares as it continues to acquire rental homes across the country. The Agoura Hills real estate investment trust did not specify the number of its Series C Participating Preferred shares that will be made available or the pricing. But like a previous $100 million offering in December, the Series C shares will carry a provision that would allow the liquidation value to rise depending on the appreciation of home prices in the company’s top 20 markets, as determined by the federal Housing Finance Agency’s House Price Index. The company also conducted a $100 million offering in October without that provision. Both offerings were priced at $25 a share. The company will grant the underwriters a 30-day option to purchase up to an additional 15 percent of the shares. Morgan Stanley, Raymond James and Jefferies will serve as joint book-running managers for the offering. The daughter of Chairman B. Wayne Hughes will purchase $5 million of the shares. American Homes plans to list the Series C Participating Preferred Shares on the New York Stock Exchange under the symbol “AMHPRC.” The company intends to use proceeds from the offering to repay borrowings under its credit facility and to acquire and renovate more single-family homes. American Homes is the second-largest owner of single-family homes in the country, with 23,268 properties as of Dec. 31 but has yet to turn a profit since going public last year. In its fourth quarter earnings released in March, the company reported funds from operations of $25.6 million (11 cents a share) for the quarter ended Dec. 31, compared to $20.7 (10 cents) in the third quarter, when the company went public. But on a net income basis, the company lost $9.5 million (-8 cents). Less than month before the earnings release, Chief Financial Officer Peter J. Nelson announced his resignation. Shares fell 9 cents, or a fraction of a percent, to $15.87 on the New York Stock Exchange.