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Mar 31, 2021
Invitation Homes Q1 2021 Earnings Report
Invitation Homes reported a strong start to 2021 with increased revenues, occupancy, and rental growth.
Key Takeaways
Invitation Homes reported strong Q1 2021 results, with total revenues increasing 5.7% year-over-year to $475 million and net income available to common stockholders increasing 14.9% to $57 million. Same Store NOI grew 4.4% year-over-year, driven by strong occupancy and rental rate growth. The company is increasing its full-year 2021 Same Store NOI growth guidance.
Total revenues increased 5.7% year-over-year to $475 million.
Net income available to common stockholders increased 14.9% year-over-year to $57 million.
Same Store NOI grew 4.4% year-over-year, driven by 2.2% Same Store Core revenue growth and a 2.2% decrease in Same Store Core operating expenses.
Same Store average occupancy was 98.4%, up 170 basis points year-over-year.
Invitation Homes
Invitation Homes
Invitation Homes Revenue by Segment
Revenue by Segment
Rental and Other Property Income Revenue
CapyFin.com Forward Guidance
Invitation Homes increased the midpoint of its full year 2021 Same Store NOI growth guidance by 75 basis points to 4.25% and is increasing the midpoint of its full year 2021 Core FFO and AFFO per share guidance by $0.03 to $1.38 and $1.17, respectively.
Positive Outlook
- Same Store Core revenue growth 3.75% - 4.75%
- Same Store Core operating expense growth 3.75% - 4.75%
- Same Store NOI growth 3.75% - 4.75%
- Core FFO per share — diluted $1.34 - $1.42
- AFFO per share — diluted $1.13 - $1.21