What is Invitation Homes's latest dividend and current dividend yield?

What guidance did Invitation Homes's management provide for the next earnings period?

What is the market's earnings forecast for Invitation Homes next quarter?

What were the key takeaways from Invitation Homes’s earnings call?

What is the revenue and EPS growth rate for Invitation Homes year over year?

What does Invitation Homes do and what are its main business segments?

What were the key takeaways from Invitation Homes's earnings call?

What is Invitation Homes's gross profit margin?

- **Renewal Strength**: 4.5% Q3 renewal rent growth, 4.3% in October, supporting 96.5% occupancy.
- **Financial Resilience**: Core FFO raised to $1.92, same-store NOI growth to 2.25%, backed by $1.9B liquidity.
- **Strategic Moves**: $500M share buyback program launched; 70% of Q3 acquisitions via homebuilder partnerships.
- **Market Outlook**: Florida and Atlanta leading growth, despite BTR supply headwinds.

**【CEO Summary Section】**
- **Revenue Growth and Renewal Performance**: Q3 same-store renewal rent growth of 4.5% (30 bps YoY improvement), with 4.3% in October, driven by stable demand and high resident tenure (41 months). New lease growth was negative due to elevated supply, but blended rent growth remained 3%.
- **Growth Strategy**: Pursuing 4 channels: homebuilder partnerships, month-end inventory, construction lending, and third-party management. Emphasized disciplined capital allocation for long-term returns.
- **Market Outlook**: Confident in single-family rental demand despite BTR supply, with Florida and Atlanta showing resilience. Hosting Investor Day on November 17 for deeper strategy insights.

**【CFO Financial Commentary】**
- **Financial Results**: Core FFO per share of $0.47, AFFO of $0.38. Raised full-year guidance: core FFO to $1.92, AFFO to $1.62, same-store NOI growth to 2.25% (midpoint). 
- **Balance Sheet Strength**: $1.9B liquidity, investment-grade debt profile (83% unsecured, 95% fixed-rate). Completed $600M bond offering at 4.95% coupon.
- **Share Repurchase Program**: Authorized $500M to enhance shareholder value, part of disciplined capital allocation.

**【Q&A Highlights】**
- **Supply Dynamics**: 2026 BTR deliveries expected to moderate, but near-term supply pressure in Sunbelt markets. Renewal strength (75% of book) offsets new lease challenges.
- **Capital Allocation**: Prioritizing acquisitions (70% forward-purchased homes, 30% opportunistic buys) and share buybacks. Disposition proceeds used for accretive reinvestment.
- **Market Performance**: Florida and Atlanta outperforming, while Chicago and Minneapolis show sustained strength. Miami renewals strong despite new supply.
- **Policy Impact**: No significant effect on occupancy or customer profile; labor and construction costs stable.

Invitation Homes Inc. (INVH) Q3 2025 Earnings Call Transcript

Rental and Other Property

Joint Venture Management Fees

INVH

INVH fundamentals

You can ask Aime