NYSE$INVH
Invitation Homes Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Invitation Homes reported solid performance in Q2 2024, driven by revenue growth and resident satisfaction.
Invitation Homes reported an 8.8% increase in total revenues to $653 million. Same Store NOI increased by 3.8% year over year. The company raised the midpoint of its full year 2024 Core FFO per share guidance by $0.01 to $1.87.
- Total revenues increased 8.8% year over year to $653 million.
- Core FFO per share increased 7.3% year over year to $0.47.
- Same Store NOI increased 3.8% year over year.
- The company raised the midpoint of its full year 2024 Core FFO per share guidance by $0.01 to $1.87.
Headline financials
Revenue & EPS history
Invitation Homes · Revenue · Quarterly
$653M
Revenue by segment
Invitation Homes · $555M total across 1 segment · Q3 2023
- Rental and Other Property Income$555M+7.9%100.0%
Forward guidance
The Company has revised its full year 2024 guidance expectations that were originally provided in February 2024 and reaffirmed in April 2024.
Tailwinds
- Core FFO per share - diluted: $1.84 to $1.90
- Same Store Core Revenues growth: 4.50% to 5.25%
- Wholly owned acquisitions: $600 million to $1,000 million
- JV acquisitions: $100 million to $300 million
- Wholly owned dispositions: $400 million to $600 million
Headwinds
- Same Store Core Operating Expenses growth: 5.25% to 6.25%
- Same Store NOI growth: 3.75% to 5.25%
- Guidance assumes FY 2024 Average Occupancy is similar to FY 2023 Average Occupancy.
- Guidance assumes average Bad Debt for FY 2024 in a range of 65 to 95 basis points.
- Guidance assumes FY 2024 property taxes expense growth in a range of 8.0% to 9.5% year over year and FY 2024 insurance expense growth of approximately 7.5% year over year.
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 2024
-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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