American Homes 4 Rent: Q2 Earnings Snapshot
CALABASAS, Calif. (AP) _ American Homes 4 Rent (AMH) on Thursday reported a key measure of profitability in its second quarter. The results matched Wall Street expectations.
The Calabasas, California-based real estate investment trust said it had funds from operations of $153.2 million, or 38 cents per share, in the period.
The average estimate of nine analysts surveyed by Zacks Investment Research was for funds from operations of 38 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 $56.6 million, or 16 cents per share.
The real estate company posted revenue of $361.9 million in the period, topping Street forecasts. Six analysts surveyed by Zacks expected $351.3 million.
American Homes 4 Rent expects full-year funds from operations in the range of $1.54 to $1.58 per share.
The company’s shares have declined 15% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $37.27, a fall of 11% in the last 12 months.