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Mar 31, 2022
Invitation Homes Q1 2022 Earnings Report
Invitation Homes reported strong Q1 2022 results driven by robust demand and premier resident experience.
Key Takeaways
Invitation Homes reported a 12.0% increase in total revenues to $532 million, a 61.3% increase in net income to $92 million, and a 13.5% increase in Core FFO per share to $0.40 year over year. Same Store NOI increased 11.7% year over year, driven by Same Store Core Revenues growth of 9.4% and Same Store Core Operating Expenses growth of 4.5%.
Total revenues increased 12.0% to $532 million and net income available to common stockholders increased 61.3% to $92 million year over year.
Core FFO per share increased 13.5% to $0.40, and AFFO per share increased 11.9% to $0.35 year over year.
Same Store NOI increased 11.7% year over year on 9.4% Same Store Core Revenues growth and 4.5% Same Store Core Operating Expenses growth.
Same Store Average Occupancy was 98.1%, down 30 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
Full year 2022 guidance remains unchanged from initial guidance provided in February 2022.
Positive Outlook
- Core FFO per share — diluted: $1.62 - $1.70
- AFFO per share — diluted: $1.38 - $1.46
- Same Store Core Revenues growth: 8.0% - 9.0%
- Same Store Core Operating Expenses growth: 5.5% - 6.5%
- Same Store NOI growth: 9.0% - 10.5%