AGOURA HILLS, Calif. (AP) _ American Homes 4 Rent (AMH) on Thursday reported a key measure of profitability in its fourth quarter. The results matched Wall Street expectations.
The real estate investment trust, based in Agoura Hills, California, said it had funds from operations of $75.9 million, or 26 cents per share, in the period.
The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of 26 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 $2.4 million, or a loss of 1 cent per share.
The real estate company posted revenue of $227.6 million in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $232.1 million.
For the year, the company reported funds from operations of $282.1 million. Revenue was reported as $878.9 million.
The company's shares have risen 11 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $23.38, a rise of 71 percent in the last 12 months.
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
Keywords: American Homes 4 Rent, Earnings Report