Invitation Homes Inc

INVH

Equity

ISIN null / Valor 35308683

New York Stock Exchange, Inc (2026-10-06)

USD 26.39+1.27%

Invitation Homes Inc
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About company

Invitation Homes Inc. is a prominent player in the single-family rental sector, operating as a real estate investment trust (REIT) with a significant footprint in the United States. Since its inception, the company has strategically expanded its portfolio to over 80,000 homes, making it a leading entity in the market. Invitation Homes made a notable entry into the public market with its initial public offering (IPO) on the New York Stock Exchange under the ticker symbol "INVH," raising approximately $1.77 billion and marking it as one of the largest REIT IPOs in history. The company's business model is centered around acquiring, owning, leasing, and managing single-family homes, primarily in selected markets. A significant milestone in its growth was the $20 billion merger with Starwood Waypoint Homes, which further solidified its market position. Invitation Homes distinguishes itself by offering services such as ProCare proactive maintenance, aiming to enhance resident satisfaction and operational efficiency. Additionally, it has ventured into partnerships, like the one with Pathway Homes, to facilitate pathways toward homeownership, and has engaged in joint ventures to acquire homes in premium locations. Through a combination of local expertise, technology, and a unique "pod-based" operations model, Invitation Homes continues to streamline its operations and service offerings in the single-family rental industry.

Summarized from source with an LLMView SourceSector: Finance

Revenue & Net Income

Q4 2025 total revenues: $685M (up 4.0% YoY); Q4 net income available to common: $144M ($0.24 diluted). FY 2025 total revenues: $2,729M (up 4.2% YoY); FY net income available to common: $587M ($0.96 diluted).

FFO and AFFO

Q4 2025 Core FFO per share was $0.48 (+1.3% YoY) and AFFO per share was $0.41 (flat YoY). FY 2025 Core FFO per share was $1.91 (+1.7%) and AFFO per share was $1.63 (+1.8%).

Same‑Store Operating Performance

Q4 2025 Same Store NOI rose 0.7% YoY (Core revenues +1.7%, core operating expenses +4.0%). FY 2025 Same Store NOI increased 2.3% YoY (Core revenues +2.4%, core operating expenses +2.6%). Same‑Store portfolio = 76,819 homes.

Occupancy & Rent Trends

Q4 2025 Same Store average occupancy was 95.9% (down 90 bps YoY); FY 2025 average occupancy was 96.8% (down 50 bps YoY). Q4 renewal rent growth +4.2%, new lease rent change −4.1%, blended +1.8%. FY blended rent growth +3.1% (renewals +4.6%, new leases −0.6%).

Acquisitions, Dispositions & ResiBuilt

Q4 2025: acquired 368 newly‑constructed homes for $123M and sold 315 wholly owned homes for $138M. FY 2025: ~2,410 wholly owned acquisitions totaling $812M and 1,356 sales for $534M. Subsequent to year end (Jan 14, 2026) Invitation Homes acquired ResiBuilt for $89M with up to $7.5M earn‑outs to add build‑to‑rent capabilities and roughly 1,500 lot options; expected to be modestly accretive to 2026 AFFO per share.

Capital Position & Share Repurchases

As of Dec 31, 2025 available liquidity was $1,735M. Company reported total indebtedness of $8,458M (≈93.8% unsecured; ~93.8% fixed or swapped to fixed) and Net debt / TTM adjusted EBITDAre of 5.3x. Board authorized a $500M share repurchase program; in 2025 the company repurchased 2,232,685 shares (~$61M) and through Jan 2026 total repurchases to date were 3,635,324 shares (~$100M).

FY 2026 Guidance

FY 2026 guidance midpoint: Core FFO per share $1.94 (range $1.90–$1.98) and AFFO per share $1.64 (range $1.60–$1.68). Same‑Store Core Revenues growth guidance 1.3%–2.5%; Same‑Store NOI guidance 0.3%–2.0%.

Summarized from source with an LLMView Source

Key figures

-6.48%1Y

-17.5%3Y

-31.7%5Y

Performance

20.9%1Y

21.3%3Y

23.3%5Y

Volatility