Invitation Homes Q2 AFFO Rises

(RTTNews) - Invitation Homes Inc. (INVH), Wednesday announced adjusted funds from operations of $245.2 million or $0.40 a share for the second quarter, compared to $235.3 million or $0.38 a share in prior year.

FFO stood at $206.9 million or $0.34 per share, compared to $256.8 million or $0.42 per share in the previous year.

Core FFO increased to $291.8 million or $0.47 per share from $271.6 million or $0.44 per share in the year ago quarter.

Earnings declined to $72.9 million or $0.12 a share from last year's $137.7 million or $0.22 a share.

On average, analysts polled by Thomson Reuters estimated earnings of $0.18 a share for the same period.

Revenue increased to $653.5 million from $600.4 million last year.

Looking ahead, the real estate company projects AFFO of $1.55 to $1.61 per share and Core FFO of $1.84 to $1.90 a share for the fiscal year 2024.