Shares of American Homes 4 Rent fell slightly on Friday after the company missed analysts’ funds from operations estimates for the fourth quarter.

The Agoura Hills single-family landlord reported FFO of $25.6 million (11 cents a share) for the quarter ended Dec. 31, compared to $20.7 (10 cents) in the third quarter, when the company went public. Revenue rose 31 percent to $65 million.

Analysts had expected FFO of 13 cents on revenue of $65.6 million, according to Thomson Financial. FFO is a REIT metric that adds amortization and depreciation expenses into net income to get a better picture of cash flow.

On a net income basis, the company lost $9.5 million (-8 cents). The results were released after markets closed on Thursday.

American Homes also declared a dividend of 5 cents a share for the first quarter of 2014. The dividend will be payable on April 10 to shareholders of record on March 25.

“We are pleased with the continued growth in our portfolio and improved property operating results throughout 2013, resulting in sustained increases in cash generated from operations, enabling us to pay dividends to our shareholders," said Chief Executive David Singelyn, in a statement.

American Homes is the second-largest owner of single-family homes in the country, but has yet to turn a profit since raising $887 million in a July 31 IPO on the New York Stock Exchange. The company has been hit by rising acquisition costs in the residential market and now has lost $27.4 million since going public.

Last year, American Homes acquired about 20,000 single-family properties and has 24,801 in its portfolio. It remained aggressive in the fourth quarter, adding some 2,000 homes. And year-to-date, the company has purchased 1,533 more properties.