Invitation Home: 4Q Earnings Snapshot
DALLAS (AP) _ Invitation Home Inc. (INVH) on Thursday reported fourth-quarter net income of $25.3 million, after reporting a loss in the same period a year earlier.
The Dallas-based company said it had profit of 5 cents per share. Earnings, adjusted for non-recurring costs, were 30 cents per share.
The results met Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was also for earnings of 30 cents per share.
The real estate investment trust focused on single-family rentals posted revenue of $432.6 million in the period, which fell short of Street forecasts. Six analysts surveyed by Zacks expected $437.7 million.
For the year, the company reported that its loss narrowed to $4.9 million, or 1 cent per share. Revenue was reported as $1.72 billion.
Invitation Home expects full-year earnings in the range of $1.20 to $1.28 per share.
Invitation Home shares have climbed 13 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $22.75, an increase of nearly 7 percent in the last 12 months.