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Reit Residential
Reven Housing REIT (Reven) is a publicly-traded real estate investment trust (REIT) that invests in single-family residential (SFR) properties in the United States. The company's stock is listed on the NASDAQ stock exchange under the ticker symbol "RVEN".
Reven's primary business strategy is to acquire, renovate, lease, and manage a diversified portfolio of SFR properties, with a focus on markets with strong demand for rental housing and favorable supply-demand dynamics. The company's portfolio consists of primarily entry-level, entry-level move-up, and first-ring suburban SFR properties.
In terms of financial performance, Reven has reported solid growth in recent years. For the full year 2021, the company reported total revenues of $82.5 million, representing an increase of 53.2% compared to the prior year. The company's net income for the year was $14.0 million, or $1.11 per diluted share, compared to a net loss of $2.1 million, or ($0.22) per diluted share, in the prior year.
Reven's earnings have also been strong, with the company reporting funds from operations (FFO) of $34.2 million, or $2.70 per diluted share, for the full year 2021. This represents an increase of 61.2% compared to the prior year. Adjusted funds from operations (AFFO) for the year were $28.5 million, or $2.23 per diluted share, representing an increase of 52.3% compared to the prior year.
Looking ahead, Reven is well-positioned to continue its growth trajectory. The company has a strong pipeline of potential acquisitions and is focused on expanding its footprint in target markets. Additionally, the ongoing demand for rental housing, particularly in the SFR sector, is expected to continue to support Reven's growth in the coming years.
In summary, Reven Housing REIT is a growth-oriented REIT with a focus on the SFR market in the United States. The company has reported solid financial performance in recent years, with strong revenue and earnings growth. With a robust pipeline of potential acquisitions and a favorable market outlook, Reven is well-positioned for continued growth in the coming years.