DALLAS (AP) _ Invitation Home Inc. (INVH) on Tuesday reported second-quarter net income of $38.8 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Dallas-based company said it had net income of 7 cents.
The results matched Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was also for earnings of 31 cents per share.
The real estate investment trust focused on single-family rentals posted revenue of $441.6 million in the period, which fell short of Street forecasts. Six analysts surveyed by Zacks expected $443.6 million.
Invitation Home shares have increased 38% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $27.74, a rise of 21% in the last 12 months.