American Homes 4 Rent reported core funds from operations attributable to common share and unit holders for the second quarter of $122.8 million, or 33 cents per share, a 22.2% increase on a per-share basis from $94.8 million, or 27 cents per share, in the comparable 2020 period.
Adjusted FFO attributable to common share and unit holders for the quarter increased 26.1% from the year-ago period on a per-share basis to $108.7 million, or 29 cents per share, from $81.6 million, or 23 cents per share.
Rents and other single-family property revenues came in at $313.7 million, a rise of 11.7% from $280.7 million in the comparable 2020 period.
The S&P Capital IQ consensus FFO-per-share estimate for the second quarter was 30 cents.
In reporting results, the company said it forecasts core FFO per share attributable to common share and unit holders in the range of $1.29 to $1.35 for the full year, compared with previous guidance in the range of $1.24 to $1.30.
The S&P Capital IQ consensus FFO-per-share estimate for the full year is $1.29.
The company also recognized bad debt on 2.5% of its second-quarter rental billings for its same-home portfolio. Its July rent billings collection remains consistent with pandemic payment histories in the same time frame.