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Invitation Homes Inc (INVH)
NYSE:INVH
Earnings Data
Report Date
May 06, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.18Last Year’s EPS
0.23Same Quarter Last Year
Based on 14 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 26, 2025
|% Change Since: 7.73%
|Next Earnings Date:May 06, 2025
Earnings Call Sentiment|Neutral
Invitation Homes reported strong financial and operational performance for 2024, with significant growth in managed home count and strategic capital allocation. However, challenges in specific markets due to supply pressures and the impact of new home deliveries were noted. The company remains cautiously optimistic for 2025, with measured guidance reflecting these market conditions.Company Guidance
During the call, Invitation Homes provided guidance for fiscal year 2025, highlighting several key metrics and strategic initiatives. The company expects core funds from operations (FFO) per share to range between $1.88 and $1.94, while adjusted FFO (AFFO) per share is anticipated to be between $1.58 and $1.64. Same-store net operating income (NOI) growth is projected to be between 1% and 3%. The company plans to execute $600 million in wholly-owned acquisitions, offset by $500 million in dispositions, emphasizing capital recycling from older assets into new investments. They reported a year-end 2024 net debt to adjusted EBITDA ratio of 5.3 times, maintaining a robust liquidity position of nearly $1.4 billion. Additionally, Invitation Homes observed strong operational performance, with a renewal rate of 80% and same-store rental rate growth of 4.2% year over year. The company plans to capitalize on its strategic partnerships, expecting over 2,000 homes under development, and aims to enhance scale and density within core markets.Strong Financial Performance in 2024
Invitation Homes reported solid execution across its platform with core FFO per share growth of 6.4% and AFFO per share growth of 6.7% for the full year 2024. The company also achieved a same-store NOI margin of over 68%.
Operational Efficiency and Growth
The company reported a 4.7% year-over-year growth in NOI for the fourth quarter, driven by core revenue growth of 2.7% and a reduction in core operating expenses by 1.5%. The property tax expense growth returned to a more normal rate of 5.8%.
Expansion of Managed Home Count
Invitation Homes grew its JV and third-party managed home count by more than six and a half times to over 25,000 homes in 2024. The pipeline of homes under development remains robust, with more than 2,000 homes under development.
Strategic Capital Allocation
The company maintained a strong balance sheet with nearly $1.4 billion in liquidity and a net debt to adjusted EBITDA ratio of 5.3 times, below the target range.
Positive Market Trends and Demand
Average length of stay was approximately 38 months with a renewal rate of 80% and same-store rental rate growth on renewals of 4.2% year over year. The company sees continued demand for leasing single-family homes, with the average cost of leasing about $1,100 cheaper than owning.
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INVH Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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INVH Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Feb 26, 2025 | $31.57 | $33.32 | +5.54% |
| Oct 30, 2024 | $32.93 | $31.13 | -5.47% |
| Jul 24, 2024 | $35.37 | $32.64 | -7.72% |
| Apr 30, 2024 | $33.36 | $33.24 | -0.36% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Invitation Homes Inc (INVH) report earnings?
Invitation Homes Inc (INVH) is schdueled to report earning on May 06, 2025, TBA Not Confirmed.
What is Invitation Homes Inc (INVH) earnings time?
Invitation Homes Inc (INVH) earnings time is at May 06, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is INVH EPS forecast?
INVH EPS forecast for the fiscal quarter 2025 (Q1) is 0.18.
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