Invitation Homes reports Q3 core FFO 47c, consensus 46c

Reports Q3 revenue $660M, consensus $659.5M. Same Store NOI increased 3.9% year over year on 3.6% Same Store Core Revenues growth and 3.1% Same Store Core Operating Expenses growth. Chief Executive Officer Dallas Tanner said: “We’re pleased to report another strong quarter, driven by year over year growth in total revenues of 6.9% and AFFO per share of 7.2%. We continue to believe our growth prospects, coupled with the attractive value proposition of single-family rentals compared to homeownership, create a constructive backdrop for the foreseeable future. Based on our solid year to date results and expectations for the remainder of the year, we have raised our full year 2024 Core FFO and AFFO per share guidance by a penny at the midpoint to $1.88 and $1.59 per share, respectively.”