Overview

* Invitation Homes ( INVH ) Q2 revenue rises 4.3%, beating analyst expectations, per LSEG data

* Net income for Q2 increases 92.7% yr/yr, reflecting strong operational performance

* Company acquired 1,040 homes, disposed of 358 homes, indicating active portfolio management

Outlook

* Invitation Homes ( INVH ) maintains FY 2025 Core FFO guidance at $1.88-$1.94 per share

* Company expects FY 2025 Same Store NOI growth of 1%-3%

* Invitation Homes ( INVH ) anticipates FY 2025 AFFO per share of $1.58-$1.64

* Company sees FY 2025 Same Store Core Revenues growth of 1.75%-3.25%

Result Drivers

* RENT GROWTH - Same Store blended rent growth of 4.0% driven by 4.7% renewal rent growth and 2.2% new lease rent growth

* OCCUPANCY - Same Store Average Occupancy was 97.2%, a slight decline of 40 basis points year over year

* ACQUISITIONS - Acquired 1,040 homes for approximately $350 million, reflecting active portfolio management

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Beat $681 mln $667.90

Revenue mln (15

Analysts

)

Q2 EPS $0.23

Q2 $0.48

Adjusted

FFO Per

Share

Q2 2.4%

Adjusted

Revenue

Growth

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 12 "hold" and 1 "sell" or "strong sell"

* The average consensus recommendation for the residential reits peer group is "buy"

* Wall Street's median 12-month price target for Invitation Homes Inc ( INVH ) is $38.00, about 15.8% above its July 29 closing price of $32.00

* The stock recently traded at 38 times the next 12-month earnings vs. a P/E of 46 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)