American Homes 4 Rent: 4Q Earnings Snapshot
AGOURA HILLS, Calif. (AP) _ American Homes 4 Rent (AMH) on Thursday reported a key measure of profitability in its fourth quarter. The results met Wall Street expectations.
The real estate investment trust, based in Agoura Hills, California, said it had funds from operations of $101.4 million, or 29 cents per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of 29 cents per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $23.6 million, or 8 cents per share.
The real estate company posted revenue of $284 million in the period, exceeding Street forecasts. Three analysts surveyed by Zacks expected $283.4 million.
For the year, the company reported funds from operations of $392.8 million, or $1.11 per share. Revenue was reported as $1.14 billion.
American Homes 4 Rent expects full-year funds from operations in the range of $1.17 to $1.21 per share.
The company’s shares have decreased 2% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $25.68, a climb of 18% in the last 12 months.