DALLAS (AP) — DALLAS (AP) — Invitation Home Inc. (INVH) on Tuesday reported a key measure of profitability in its fourth quarter. The results matched Wall Street expectations.
The Dallas-based real estate investment trust said it had funds from operations of $274.6 million, or 45 cents per share, in the period.
The average estimate of eight analysts surveyed by Zacks Investment Research was for funds from operations of 45 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 $129.4 million, or 21 cents per share.
The real estate investment trust focused on single-family rentals, based in Dallas, posted revenue of $624.3 million in the period, which beat Street forecasts. Five analysts surveyed by Zacks expected $623.5 million.
For the year, the company reported funds from operations of $1.09 billion. Revenue was reported as $2.43 billion.
Invitation Home expects full-year funds from operations in the range of $1.82 to $1.90 per share.
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