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Jun 30, 2022
Invitation Homes Q2 2022 Earnings Report
Invitation Homes reported strong Q2 2022 results, driven by revenue growth and efficient cost management.
Key Takeaways
Invitation Homes reported a strong second quarter of 2022, with significant increases in total revenues, net income, and core FFO. The company benefited from favorable housing market fundamentals, driving rent growth and high occupancy rates. Increased guidance expectations for the full year reflect the company's confidence in continued strong performance.
Total revenues increased 13.4% year over year to $557 million.
Net income available to common stockholders increased 83.9% year over year to $111 million.
Core FFO per share increased 13.2% year over year to $0.42.
Same Store NOI increased 12.4% year over year, driven by revenue growth and expense management.
Revenue by Segment
Forward Guidance
Invitation Homes updated its FY 2022 guidance, increasing expectations for Core FFO per share and Same Store NOI growth.
Positive Outlook
- Core FFO per share is now expected to be in the range of $1.66 to $1.72.
- AFFO per share is projected to be between $1.41 and $1.47.
- Same Store Core Revenues growth is anticipated to be 9.0% to 10.0%.
- Same Store Core Operating Expenses growth is expected to be 6.0% to 7.0%.
- Same Store NOI growth is forecasted to be 10.0% to 11.5%.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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