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    Derrick Metzler

    Research Associate at Morgan Stanley

    Derrick Metzler is a Research Associate at Morgan Stanley & Co. LLC, having joined the firm in 2022 where he specializes in equity research. He supports analyst coverage for companies in the healthcare and real estate sectors, contributing to research on high-profile clients such as Physicians Realty Trust. Metzler began his professional journey after graduating from Fox School of Business in 2011, with prior industry experience not widely disclosed before his Morgan Stanley tenure. He is registered with FINRA and holds standard securities licenses, underpinning his analytical credentials and compliance with industry standards.

    Derrick Metzler's questions to Invitation Homes (INVH) leadership

    Derrick Metzler's questions to Invitation Homes (INVH) leadership •

    Question

    Derrick Metzler, on for Adam Kramer, asked for more detail on same-store revenue growth assumptions, specifically the new and renewal lease expectations within the mid-3% blend, and questioned the confidence in bad debt improving to 60-90 basis points.

    Answer

    Chief Financial Officer Jonathan Olsen addressed both points. On bad debt, he said the guidance reflects expected improvement but remains cautious due to elongated eviction timelines in markets like Atlanta and the Carolinas. On rent growth, he declined to give a specific new vs. renewal guide but reiterated comfort with the mid-3% blend, which assumes sticky renewal growth of 4-5% and a typical seasonal curve for new leases. He also noted that H2 2025 growth should be higher than H1 due to comps.

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