Steadfast Income REIT Declares $11.44 NAV

Steadfast Income REIT Inc., a publicly registered non-traded real estate investment trust, announced that its board of directors determined a new estimated per share value of $11.44 for the company’s common stock, as of December 31, 2015.

The new estimated value per share reflects a 10.5 percent increase from the previous $10.35 estimated value per share that the board of directors approved in March 2015. Both valuations were performed in accordance with guidelines issued by the Investment Program Association.

“We feel this estimated value per share highlights the successful execution of our strategy of creating value for our shareholders by bringing institutional-quality management to our portfolio of well-located, income-producing apartment properties, and then investing additional capital to make comparatively minor aesthetic improvements that have a significant impact on the property’s revenue and resale value,” said Ella Neyland, president of Steadfast Income REIT.

The estimated value per share was determined by the board of directors after CBRE Capital Advisors conducted property-level and valuation analyses on the REIT’s 65 apartment community assets plus cash and other assets, less the estimated value of outstanding mortgage debt and other liabilities, divided by the number of shares issued and outstanding on an adjusted fully diluted basis.

Steadfast Income REIT operates a diverse portfolio of real estate investments focused primarily on the multifamily sector, including stable, income-producing and value-added properties. After launching its initial public offering in July 2010, the REIT concluded its sales of shares of common stock in its primary offering on December 20, 2013.

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