DALLAS (AP) — DALLAS (AP) — Invitation Home Inc. (INVH) on Wednesday reported a key measure of profitability in its second quarter. The results matched Wall Street expectations.
The real estate investment trust, based in Dallas, said it had funds from operations of $291.8 million, or 47 cents per share, in the period.
The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of 47 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 $73 million, or 12 cents per share.
The real estate investment trust focused on single-family rentals, based in Dallas, posted revenue of $653.5 million in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $654.7 million.
Invitation Home expects full-year funds from operations in the range of $1.84 to $1.90 per share.
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