INVH
Invitation Homes Inc.26.84
-0.06-0.22%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
16.45BP/E (TTM)
28.25Basic EPS (TTM)
0.95Dividend Yield
0.04%Recent Filings
8-K
8-K
8-K
Q3 revenues hit $688M
Invitation Homes posted Q3 2025 revenues up 4.2% to $688 million, with net income surging 43.5% to $136 million, fueled by robust renewal rents at 4.5% despite a slight occupancy dip to 96.5%. Same Store NOI climbed 1.1% on 2.3% core revenue growth, offset by 4.9% expense rises; the company acquired 749 homes for $260 million while selling 316 for $122 million. It raised full-year Core FFO to $1.92 and AFFO to $1.62 per share, and authorized $500 million in share repurchases. Strong renewals bolster cash flows, yet new lease declines signal market softening.
8-K
Invitation Homes issues $600M notes
Invitation Homes closed a $600 million public offering of 4.950% senior notes due 2033 on August 15, 2025, guaranteed by the company and key subsidiaries. The notes, sold at 98.852% of principal, provide unsecured funding amid restrictive covenants on unencumbered assets. This bolsters liquidity for operations. Yet, they rank below secured mortgage debt.
10-Q
Q2 FY2025 results
Invitation Homes posted solid Q2 results, with total revenues up 4.3% year-over-year to $681.4M, fueled by 3.4% growth in rental revenues to $659.1M despite a 100 bps dip in average occupancy to 95.6%; average monthly rent climbed 2.3% to $2,434, while Same Store occupancy held at 97.2% with 2.6% rent growth. Expenses rose 2.5% to $579.6M, driven by higher property operating costs up 4.3% amid more homes owned, but interest expense fell 2.9% to $87.4M thanks to lower debt and swap amendments. Diluted EPS doubled to $0.23 on $140.7M net income, reconciling cleanly with 613.3M shares; operating cash flow for the half-year hit $683.0M, yielding free cash flow of $602.4M after $80.6M capex (derived). Liquidity stays strong with $65.1M cash and $1.21B undrawn on the $1.75B revolver, total debt at $8.25B with no maturities until 2027. Yet competition in the leasing market for quality residents could pressure occupancy and rents.
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