earnings
confidence high
sentiment neutral
materiality 0.65
Invitation Homes QTD Jan-Feb blended lease growth 3.6%; guides FY25 Core FFO $1.88-$1.94
Invitation Homes Inc.
2024-FY EPS reported
$0.74
revenue$2,618,942,000
- Preliminary Same Store Jan-Feb: renewal leases +5.5% (Q4: 4.2%), new leases -0.8% (Q4: -2.2%), blended +3.6% (Q4: 2.3%), occupancy 97.1% (Q4: 96.7%).
- FY2025 guidance: Core FFO/sh $1.88-$1.94, AFFO/sh $1.58-$1.64; SS revenue +1.75-3.25%, SS NOI +1.0-3.0%.
- Wholly owned acquisitions of $500M-$700M; JV acquisitions $100M-$200M; wholly owned dispositions $400M-$600M.
- Homebuilder partnerships with D.R. Horton, Lennar, Pulte, Meritage; BTR pipeline >2,000 homes under construction.
- Third-party management platform: 17,678 homes managed; capital-light model targets ~6% investment yields.