American Homes 4 Rent reported core funds from operations attributable to common share and unit holders for the 2020 fourth quarter of $113.6 million, or 31.0 cents per share, a rise of 6.9% on a per-share basis from $101.4 million, or 29.0 cents per share, in the 2019 fourth quarter.
Adjusted FFO for the quarter increased 7.7% from the year-ago period on a per-share basis to $102.8 million, or 28.0 cents per share, from $91.2 million, or 26.0 cents per share.
For the full year, the company reported a year-over-year gain in core FFO per share. Results totaled $417.6 million, or $1.16 per share, compared with $392.8 million, or $1.11 per share.
AFFO for the full year 2020 came to $367.5 million, or $1.02 per share, a per-share increase from $348.7 million, or 99 cents per share, for 2019.
The S&P Capital IQ consensus FFO-per-share estimate was 30 cents for the quarter and $1.16 for the full year.
Total revenues for the quarter amounted to $299.3 million, a 5.4% increase year over year from $284.0 million. Total revenues for the full year came to $1.18 billion, a rise of 3.34% from $1.14 billion the previous year.
The company forecasts core FFO per share in the range of $1.22 to $1.28 for the 2021 full year.
For the 2021 full year, the S&P Capital IQ consensus FFO-per-share estimate is $1.25.