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Sep 30, 2024

Invitation Homes Q3 2024 Earnings Report

Invitation Homes reported strong Q3 2024 results, driven by revenue growth and strategic balance sheet improvements.

Key Takeaways

Invitation Homes reported a 6.9% increase in total revenues to $660 million and a 7.2% increase in AFFO per share to $0.38 year-over-year. The company also raised its full-year 2024 Core FFO and AFFO per share guidance.

Total revenues increased 6.9% year over year to $660 million.

Core FFO per share increased 6.8% year over year to $0.47.

AFFO per share increased 7.2% year over year to $0.38.

Same Store NOI increased 3.9% year over year.

Total Revenue
$660M
Previous year: $618M
+6.9%
EPS
$0.47
Previous year: $0.44
+6.8%
Average monthly rent
$2.41K
Previous year: $2.32K
+3.8%
Average occupancy
97%
Previous year: 96.9%
+0.1%
Gross Profit
$660M
Previous year: $618M
+6.9%
Cash and Equivalents
$1.25B
Previous year: $980M
+27.1%
Free Cash Flow
$249M
Total Assets
$19.6B
Previous year: $19.5B
+0.9%

Invitation Homes

Invitation Homes

Invitation Homes Revenue by Segment

Forward Guidance

The Company has revised its full year 2024 guidance expectations.