earnings
confidence high
sentiment positive
materiality 0.60
Invitation Homes May QTD new lease growth 7.4%, up from 5.7% in Q1; occupancy 97.7%
Invitation Homes Inc.
- May QTD new lease rate growth 7.4% (vs 5.7% in Q1); renewal 6.9%, blended 7.0%.
- Average occupancy 97.7% in May QTD, consistent with Q1's 97.8%.
- Leasing a home vs buying saves ~$900/month (30%) across 16 markets per John Burns data.
- No debt maturities before 2026; 99.2% fixed/floored; $1.3B liquidity as of Q1.
- Cumulative SS-NOI growth 2017-2022 of 46.6%, outperforming multifamily peers.