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American Homes 4 Rent: 3Q Earnings Snapshot

·1 min read

AGOURA HILLS, Calif. (AP) _ American Homes 4 Rent (AMH) on Thursday reported a key measure of profitability in its third quarter. The results topped Wall Street expectations.

The Agoura Hills, California-based real estate investment trust said it had funds from operations of $106.2 million, or 29 cents per share, in the period.

The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of 28 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 $22.6 million, or 7 cents per share.

The real estate company posted revenue of $310.8 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $300 million.

The company's shares have risen 14% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $29.93, a climb of 16% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AMH at https://www.zacks.com/ap/AMH