Invitation Homes Inc. disclosed second-quarter core funds from operations of $156.4 million, or 29 cents per share, a 16.0% increase on a per-share basis from $77.2 million, or 25 cents per share, in the prior-year period.
For the second quarter, adjusted FFO rose 14.3% year over year on a per-share basis to $127.5 million, or 24 cents per share, from $65.6 million, or 21 cents per share.
The S&P Global Market Intelligence consensus FFO estimate for the second quarter was 28 cents per share.
Total revenues rose to $432.4 million in the second quarter from $242.2 million a year earlier.
For the full year 2018, the single-family real estate investment trust forecasts core FFO per share in the range of $1.15 to $1.19 and AFFO per share in the range of 94 cents to 98 cents, compared to prior guidance ranges of $1.13 to $1.21 and 94 cents to $1.02, respectively.
The S&P Global Market Intelligence consensus FFO-per-share estimate for the full year is $1.16.
During the second quarter, Invitation Homes purchased 263 homes for $79.6 million, including estimated renovation costs, and sold 348 homes for $76.8 million in gross proceeds.