WASHINGTON (dpa-AFX) - Invitation Homes Inc. (INVH), a national single-family home leasing and management company, Wednesday reported its fourth quarter results for the year 2024.
Net income increased to $143.6 million compared to $129.9 million. EPS improved to $0.23 from $0.21 the previous year. In the fourth quarter, total revenues rose to $659.1 million from $624.3 million year over year, driven by rental revenues of $576.6 million versus $563.8 million.
For the fourth quarter Funds From Operations fell to $223.2 million from $253.6 million, with FFO per share dropping to $0.36 from $0.41. Core FFO rose to $290.5 million from $274.6 million, increasing per share to $0.47 from $0.45. Adjusted FFO grew to $254.9 million from $234.2 million, with AFFO per share rising to $0.41 from $0.38.
The company also saw a jump in management fee revenues from $3.4 million to $21.1 million.
INVH closed trading at $31.57 down 1.65 percent or $0.53 on the New York Stock Exchange.
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