American Homes 4 Rent announced on Friday the pricing for its secondary offering of preferred shares.

The Agoura Hills real estate investment trust plans to sell 4.4 million of its 5 percent Series A Participating Preferred Shares for $25 each. It expects gross proceeds of approximately $110 million, before deducting underwriting discounts and estimated offering expenses.

The stock will pay a 5 percent quarterly dividend and is convertible to common stock after Sept. 30, 2017. The company intends to apply to list the shares on the New York Stock Exchange under the symbol “AMHPRA.”

The offering is expected to close on Oct. 25 with American Homes granting the underwriters a 30-day option to purchase up to an additional 660,000 preferred shares.

The company plans to use the proceeds from the offering to continue to acquire and renovate single-family properties, to repay borrowings under its credit facility and for general business purposes.

American Homes is the second-largest owner of single-family homes in the country, with 19,825 properties as of July 31.

The company went public July 31 in an IPO that raised more than $800 million. It has since increased its borrowing capacity and formed a joint venture to purchase distressed U.S. mortgages.

Raymond James and Jefferies are the joint book-running managers for the offering, announced earlier this month in a regulatory filing.