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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.
Revenue by Segment
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%
Historical Earnings Impact
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Avg. Return Before/After Earnings
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