American Homes 4 Rent: Q3 Earnings Snapshot

LAS VEGAS (AP) — LAS VEGAS (AP) — American Homes 4 Rent (AMH) on Wednesday reported a key measure of profitability in its third quarter. The results surpassed Wall Street expectations.

The real estate investment trust, based in Las Vegas, said it had funds from operations of $205.1 million, or 50 cents per share, in the period.

The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of 49 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 $82.3 million, or 23 cents per share.

The real estate company posted revenue of $498.1 million in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $487.7 million.

American Homes 4 Rent expects full-year funds from operations in the range of $1.96 to $1.98 per share.

The company's shares have increased almost 2% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $32.63, a climb of slightly more than 1% 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