NYSE$INVH
Invitation Homes Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Invitation Homes reported strong progress in the second quarter of 2023, driven by robust demand and high occupancy.
Invitation Homes reported a 7.7% increase in total revenues to $600 million, a 24.3% increase in net income available to common stockholders to $138 million, and a Same Store NOI increase of 3.6% year over year. The company also announced an increase to its 2023 full-year guidance and the acquisition of nearly 1,900 homes for approximately $650 million.
- Total revenues increased 7.7% year over year to $600 million.
- Net income available to common stockholders increased 24.3% year over year to $138 million.
- Core FFO per share increased 5.3% year over year to $0.44.
- Same Store NOI increased 3.6% year over year.
Headline financials
Revenue & EPS history
Invitation Homes · Revenue · Quarterly
$600M
Revenue by segment
Invitation Homes · $543M total across 1 segment · Q2 2023
- Rental and Other Property Income$543M+7.4%100.0%
Forward guidance
The Company raised its full year 2023 guidance.
Tailwinds
- Core FFO per share - diluted: $1.75 to $1.81
- AFFO per share - diluted: $1.45 to $1.51
- Same Store Core Revenues growth: 5.75% to 6.75%
- Same Store Core Operating Expenses growth: 8.5% to 9.5%
- Same Store NOI growth: 4.5% to 5.5%
Headwinds
- Wholly owned acquisitions: $800 million to $900 million
- JV acquisitions: $100 million to $300 million
- Wholly owned dispositions: $425 million to $475 million
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
-0.8%
Avg return
Earnings day
-0.3%
Avg return
5 days after
-0.1%
Avg return
30 days after
36%
13 / 36 earnings
Positive
+5.5%
Q4 2024
Best reaction
-9.0%
Q2 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -2.4% | +2.1% | +4.1% | |
| Q4 2025 | -3.9% | -4.4% | -9.1% | |
| Q3 2025 | +3.5% | +4.2% | +2.7% | |
| Q1 2025 | +2.7% | +2.1% | -1.4% | |
| Q4 2024 | +5.5% | +7.3% | +9.2% | |
| Q3 2024 | -5.4% | -4.3% | +3.1% | |
| Q2 2024 | -9.0% | -6.1% | -0.9% | |
| Q1 2024 | -1.4% | -0.5% | -1.6% | |
| Q4 2023 | -1.7% | -0.6% | +6.0% | |
| Q3 2023 | -6.6% | -5.9% | +7.2% | |
| Q2 2023 | -1.9% | -0.1% | -5.1% | |
| Q1 2023 | +0.8% | +3.1% | +1.5% | |
| Q4 2022 | -1.4% | -1.3% | -7.8% | |
| Q3 2022 | -8.6% | -6.7% | -6.6% | |
| Q2 2022 | +5.5% | +5.2% | +1.8% | |
| Q1 2022 | -1.9% | -8.6% | -8.3% | |
| Q4 2021 | -2.3% | -6.7% | -1.7% | |
| Q3 2021 | +1.1% | +0.4% | +0.5% | |
| Q2 2021 | -0.1% | -0.2% | -0.5% | |
| Q1 2021 | +2.4% | +2.4% | +7.0% | |
| Q4 2020 | -2.1% | -3.3% | +0.3% | |
| Q3 2020 | -2.3% | -1.4% | +2.5% | |
| Q2 2020 | -0.5% | +1.3% | -1.6% | |
| Q1 2020 | +4.7% | +7.7% | +21.9% | |
| Q4 2019 | -2.4% | -3.6% | -43.2% | |
| Q3 2019 | -1.0% | +0.2% | -1.4% | |
| Q2 2019 | -0.4% | +0.4% | +4.9% | |
| Q1 2019 | -1.1% | +0.6% | +5.7% | |
| Q4 2018 | +2.6% | +3.1% | +4.0% | |
| Q3 2018 | -0.9% | +2.3% | +0.0% | |
| Q2 2018 | -0.9% | -3.9% | -0.8% | |
| Q1 2018 | -5.7% | -7.2% | -6.5% | |
| Q4 2017 | +2.0% | +3.2% | +3.0% | |
| Q3 2017 | +0.4% | +1.6% | +1.9% | |
| Q2 2017 | +4.4% | +9.3% | +6.4% | |
| Q1 2017 | +0.6% | -1.4% | -1.2% | |
| Q4 2015 | — | — | — |
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