Earnings summaries and quarterly performance for Invitation Homes.
Executive leadership at Invitation Homes.
Dallas B. Tanner
Detailed
Chief Executive Officer
CEO
CD
Charles D. Young
Detailed
President
JS
Jonathan S. Olsen
Detailed
Executive Vice President, Chief Financial Officer and Treasurer
MA
Mark A. Solls
Detailed
Executive Vice President, Chief Legal Officer and Secretary
SG
Scott G. Eisen
Detailed
Executive Vice President and Chief Investment Officer
TJ
Timothy J. Lobner
Detailed
Executive Vice President and Chief Operating Officer
Board of directors at Invitation Homes.
FA
Frances Aldrich Sevilla-Sacasa
Detailed
Director
HW
H. Wyman Howard III
Detailed
Director
JC
Jana Cohen Barbe
Detailed
Director
JE
Jeffrey E. Kelter
Detailed
Director
JB
John B. Rhea
Detailed
Director
JD
Joseph D. Margolis
Detailed
Director
KD
Keith D. Taylor
Detailed
Director
KS
Kellyn Smith Kenny
Detailed
Director
MD
Michael D. Fascitelli
Detailed
Chairperson of the Board
Research analysts who have asked questions during Invitation Homes earnings calls.
Eric Wolfe
Citi
7 questions for INVH
Also covers: AMH, AVB, CPT +13 more
HS
Haendel St. Juste
Mizuho Financial Group
7 questions for INVH
Also covers: AAT, ADC, AIV +21 more
Jesse Lederman
Zelman & Associates
7 questions for INVH
Also covers: AMH, CVCO, SKY +1 more
John Pawlowski
Green Street
7 questions for INVH
Also covers: AIV, AMH, AVB +15 more
Brad Heffern
RBC Capital Markets
6 questions for INVH
Also covers: ADC, AMH, AVB +16 more
JG
Jana Galan
Bank of America
6 questions for INVH
Also covers: ADC, AHH, AVB +24 more
Steve Sakwa
Evercore ISI
6 questions for INVH
Also covers: ALX, AMH, AVB +31 more
AW
Austin Wurschmidt
KeyBanc Capital Markets Inc.
5 questions for INVH
Also covers: AHR, AIV, AMH +20 more
Jamie Feldman
Wells Fargo & Company
5 questions for INVH
Also covers: ADC, AMH, ARE +19 more
JS
Jason Sabshon
Keefe, Bruyette & Woods (KBW)
5 questions for INVH
Also covers: AMH, DBRG, KREF +2 more
Juan Sanabria
BMO Capital Markets
5 questions for INVH
Also covers: AMH, BRX, CTRE +21 more
JB
Julien Blouin
The Goldman Sachs Group, Inc.
5 questions for INVH
Also covers: ALX, AMH, CBRE +12 more
Michael Goldsmith
UBS
5 questions for INVH
Also covers: ADC, AHR, AMH +39 more
Adam Kramer
Morgan Stanley
4 questions for INVH
Also covers: AMH, AVB, CPT +5 more
Linda Tsai
Jefferies
4 questions for INVH
Also covers: ADC, AKR, AMH +32 more
Ami Probandt
UBS
3 questions for INVH
Also covers: ADC, AVB, CPT +5 more
AP
Anthony Paolone
JPMorgan Chase & Co.
2 questions for INVH
Also covers: ALX, ARE, AVB +32 more
DT
Daniel Tricarico
Scotiabank
2 questions for INVH
Also covers: AMH, CUBE, EQR +2 more
EW
Emily White
BMO Capital Markets
2 questions for INVH
JR
Jade Rahmani
Keefe, Bruyette & Woods
2 questions for INVH
Also covers: ABR, ACRE, AMH +22 more
James Feldman
Wells Fargo
2 questions for INVH
Also covers: AMH, ARE, AVB +16 more
Jason Wayne
Barclays
2 questions for INVH
Also covers: AMH, ELS, FCPT +3 more
Nicholas Yulico
Scotiabank
2 questions for INVH
Also covers: AHR, ALX, AVB +20 more
Rich Hightower
Barclays
2 questions for INVH
Also covers: ADC, AMH, APLE +23 more
AL
Amy Lo
UBS
1 question for INVH
CC
Cooper Clark
Wells Fargo
1 question for INVH
Also covers: APLE, AVB, BRX +17 more
Derrick Metzler
Morgan Stanley
1 question for INVH
JD
Joshua Dennerlein
BofA Securities
1 question for INVH
Also covers: AHR, AMH, ARE +20 more
MG
Michael Gorman
BTG Pactual
1 question for INVH
Also covers: BNL, CSR, CTO +14 more
Recent press releases and 8-K filings for INVH.
Invitation Homes releases March 2026 investor presentation
INVH
M&A
New Projects/Investments
- Continued same-store performance with 1.5% blended rental rate growth in Jan–Feb 2026, outpacing both coastal and national multifamily peers
- Valuation metrics point to an implied cap rate ≥7% and approximately $270 k per home, based on average stock price 2/19–2/25/2026
- Robust balance sheet with 5.3x Net Debt/TTM Adj. EBITDA, $1.7 B of liquidity, no debt maturities before June 2027, and ~90% unencumbered real estate
- Acquisition of ResiBuilt adds ~1,450 fee-build homes under construction plus 1,500 lot options and is expected to contribute $0.02 per share to 2026 AFFO
9 hours ago
Invitation Homes reports Q4 and full year 2025 earnings
INVH
Earnings
Guidance Update
M&A
- Same-store NOI growth of 0.7% in Q4 and 2.3% for full year 2025; year-end occupancy at 96.8%
- 2026 guidance: same-store NOI growth of 0.3–2.0%, core FFO of $1.90–$1.98 and AFFO of $1.60–$1.68 per share
- Acquisition of ResiBuilt Homes to add in-house development, with 23 active fee-build contracts and over 2,000 home starts planned for 2026
- $500 million share repurchase program authorized; $100 million of shares (3.6 million shares) repurchased since October
Feb 19, 2026, 4:00 PM
Invitation Homes reports Q4 2025 results and 2026 guidance
INVH
Earnings
Guidance Update
New Projects/Investments
- Acquired ResiBuilt Homes to expand in-house build-to-rent development, targeting over 1,000 homes per year and planning 2,000 home starts in 2026 under 23 active fee-build contracts.
- FY 2025 same-store NOI grew 2.3%, driven by 2.4% core revenue growth and 2.6% core expense growth; Q4 same-store NOI up 0.7% with 1.7% revenue growth and 4.0% expense growth; occupancy averaged 96.8%, turnover 22.8%.
- Q4 2025 Core FFO of $0.48 per share (+1.3% YoY) and AFFO of $0.41 per share (flat); FY 2025 Core FFO of $1.91 (+1.7%) and AFFO of $1.63 (+1.8%).
- Ended 2025 with $1.7 B liquidity, net debt/EBITDA of 5.3×, 94% fixed-rate debt, no maturities before June 2027, and repurchased 3.6 M shares for $100 M under a $500 M buyback program.
- 2026 guidance includes same-store NOI growth of 0.3%–2%, core FFO of $1.90–$1.98, AFFO of $1.60–$1.68, assuming 1.3%–2.5% revenue growth, 3%–4% expense growth, $550 M dispositions, and $250 M new home deliveries.
Feb 19, 2026, 4:00 PM
Invitation Homes reports Q4 2025 results
INVH
Earnings
Guidance Update
Share Buyback
- Invitation Homes delivered 2.3% same-store NOI growth for FY 2025 and 0.7% NOI growth in Q4, with 96.8% average occupancy for the year and 22.8% turnover.
- Q4 core FFO was $0.48/share (+1.3% YoY) and full-year core FFO was $1.91/share (+1.7%); Q4 AFFO was $0.41/share flat and FY AFFO was $1.63/share (+1.8%).
- 2026 guidance includes 0.3%–2% same-store NOI growth, core FFO of $1.90–$1.98/share, AFFO of $1.60–$1.68/share, with ~$550 million of dispositions and ~$250 million in new home deliveries as funding sources.
- Acquired ResiBuilt Homes to expand in-house build-to-rent development, with 23 fee-build contracts, over 2,000 planned starts in 2026, and potential to develop 1,500 lots in key markets.
- Maintained $1.7 billion liquidity, net debt/EBITDA at 5.3×, and repurchased 3.6 million shares (~$100 million) under a $500 million share buyback program.
Feb 19, 2026, 4:00 PM
Invitation Homes reports Q4 and FY 2025 results
INVH
Earnings
Guidance Update
Share Buyback
- In Q4 2025 total revenues rose 4.0% to $685 million and net income increased 1.0% to $144 million (or $0.24 per diluted share); for FY 2025, revenues grew 4.2% to $2,729 million and net income rose 29.5% to $587 million (or $0.96 per share).
- Q4 2025 Core FFO per share increased 1.3% to $0.48 and AFFO per share remained flat at $0.41; for FY 2025, Core FFO per share reached $1.91 (+1.7%) and AFFO per share rose 1.8% to $1.63.
- Same Store NOI grew 0.7% in Q4 2025 (Average Occupancy 95.9%, blended rent growth 1.8%) and 2.3% for FY 2025 (Average Occupancy 96.8%, blended rent growth 3.1%).
- During Q4 2025, Invitation Homes acquired 368 homes for $123 million, sold 315 homes for $138 million, and repurchased 2.23 million shares for $61 million; for FY 2025, acquisitions totaled 2,410 homes at $812 million, dispositions were 1,356 homes for $534 million, and buybacks reached $100 million year-to-date.
- FY 2026 guidance forecasts Core FFO per share of $1.90–$1.98 and AFFO per share of $1.60–$1.68.
Feb 18, 2026, 9:15 PM
Invitation Homes reports Q4 and FY 2025 results
INVH
Earnings
Guidance Update
- Net income per diluted common share was $0.24 in Q4 2025 and $0.96 for FY 2025; total revenues were $685 million in Q4 and $2.729 billion for the full year 2025.
- Core FFO per share increased to $0.48 in Q4 2025 (up 1.3% yoy) and $1.91 in FY 2025 (up 1.7% yoy); AFFO per share was $0.41 in Q4 and $1.63 in FY.
- Same Store NOI grew 0.7% in Q4 and 2.3% for FY 2025 on core revenue growth of 1.7% and 2.4%, respectively, with average occupancy of 95.9% in Q4 and 96.8% in FY.
- FY 2026 guidance targets Core FFO per share of $1.90–$1.98 (midpoint $1.94) and AFFO per share of $1.60–$1.68 (midpoint $1.64).
Feb 18, 2026, 9:11 PM
Invitation Homes acquires ResiBuilt to enhance development capabilities
INVH
M&A
New Projects/Investments
- Acquired ResiBuilt Homes for $89 million plus up to $7.5 million earn-out.
- ResiBuilt has delivered 4,200 homes since 2018; its ~70 associates and leadership join under the ResiBuilt brand.
- Includes 23 existing fee-building contracts and additional pipeline opportunities; transaction is modestly accretive to 2026 AFFO per share.
- Secured options on approximately 1,500 lots for future development, though no land was transferred in the deal.
Jan 16, 2026, 11:45 AM
Invitation Homes furnishes December 2025 investor presentation
INVH
New Projects/Investments
- Invitation Homes filed a Form 8-K to furnish its December 2025 investor presentation, outlining strategic initiatives and forward-looking statements.
- The presentation reports Oct–Nov 2025 same-store leasing results: 95.9% average occupancy, 4.3% renewal rental rate growth, and –3.5% new lease rental rate growth.
- It emphasizes platform scale with ~24,000 homes managed and a third-party management platform covering 125,000+ homes, generating ~$85 M FY 2025E revenue.
- The company’s fortress balance sheet shows 5.2x Net Debt/TTM Adj. EBITDA, $1.9 B liquidity, 90% unencumbered real estate, and no debt maturing before June 2027.
Dec 8, 2025, 11:45 AM
Invitation Homes outlines 2025–2028 value creation roadmap
INVH
Guidance Update
New Projects/Investments
- Invitation Homes has delivered 60.7% cumulative Same Store NOI growth (2017-2024), outpacing peers.
- The company projects $0.14–$0.20 incremental AFFO per share by 2028, anchored by its multi-channel strategy.
- It maintains a fortress balance sheet with 5.2x Net Debt/TTM Adj. EBITDA, $1.9 billion liquidity, and no debt maturities until June 2027.
- Growth channels include accretive acquisitions, homebuilder partnerships, a $1 billion construction lending book, and a 24,000-home JV/3PM platform (~$85 million FY 2025 revenue).
Nov 17, 2025, 6:00 PM
Invitation Homes outlines growth strategy and capital returns at 2025 Investor Day
INVH
Share Buyback
New Projects/Investments
- Invitation Homes outlined its strategic pillars—innovation, growth, and possibility—and expects to drive an additional $0.14–$0.20 of AFFO per share over its baseline run-rate through new operational and technology initiatives.
- The board approved a $500 million stock repurchase program to demonstrate confidence in the company’s undervalued share price.
- Leveraging its 110,000-unit platform, Invitation Homes will unlock $0.07–$0.10 of incremental AFFO per share via proprietary pricing algorithms, streamlined maintenance operations, and centralized services over the next three years.
- The company’s technology transformation includes a proprietary online leasing platform and AI-enabled chatbots, resulting in a 35% reduction in time to decision, with 46% of inquiries handled after hours and 79% of applications completed without human intervention.
- Invitation Homes is expanding its growth channels—acquiring 3,000 build-to-rent homes, launching a $1 billion BTR program, and growing its 24,000-home third-party management business with a new construction lending vertical.
Nov 17, 2025, 6:00 PM
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