Vmbook Online ordering

Reit Diversified

Reitime Earnings and Growth

Reit Diversified (MITT) is a publicly traded real estate investment trust (REIT) that specializes in acquiring, owning, and managing a diversified portfolio of single-family rental properties across the United States. As of March 2023, the company has a portfolio of 38,112 single-family rental properties across 20 states, with a total estimated value of approximately $8.5 billion. Here's an overview of MITT's earnings and growth:

1. Financials:

* Revenue: In 2022, MITT's revenue increased by 35% year over year to $357.8 million.

* Net Income: The company reported a net income of $28.2 million in 2022, compared to a net loss of $1.3 million in the previous year.

* Earnings per Share (EPS): MITT's fully diluted earnings per share were $0.27 in 2022, up from a loss per share of $0.04 in 2021.

* Funds from Operations (FFO): MITT's FFO per share was $1.46 in 2022, representing a 65% increase year over year. FFO is a widely used metric in the REIT industry, which adjusts for depreciation and amortization to provide a clearer picture of a REIT's financial performance.

1. Growth:

* Portfolio Growth: MITT has consistently grown its portfolio through acquisitions and build-to-rent projects. In 2022, the company acquired 13,421 homes, increasing its portfolio by 56% year over year.

* Rental Revenue Growth: MITT's rental revenue increased by 31% year over year in 2022, driven by a 5% increase in average rent per property and a 26% increase in the average number of occupied homes.

* Same-Property Growth: MITT reported a same-property rental revenue growth of 11% in 2022, driven by a 3% increase in average rent per property and a 7% increase in occupied homes.

1. Guidance:

* Revenue and FFO Guidance: For 2023, MITT expects revenue between $435 million and $455 million, representing a year-over-year growth rate of 22% to 28%. The company also expects FFO per share between $1.68 and $1.78, representing a year-over-year growth rate of 18% to 27%.

Overall, Reit Diversified (MITT) has shown strong financial performance and growth in recent years, driven by the expansion of its single-family rental portfolio and increasing rental revenue. The company's focus on the build-to-rent market and its position as a leading player in the sector are expected to continue to drive its growth in the future.

Note: All data and statistics mentioned above are as of March 2023, unless otherwise stated, and may have changed since the company's last quarterly or annual report.