NYSE$INVH

Invitation Homes Inc · Q3 2024 earnings

Q3 2024 earnings · · Investor relations

Briefing

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

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.

Headline financials

Total Revenue

$660M

Previous: $618M+6.9%
EPS

$0.15

Previous: $0.44-65.9%
Average Occupancy

97.1%

Previous: 96.9%+0.2%
Bad Debt % of gross rental revenue

0.9%

No prior period
Turnover Rate

6.1%

No prior period
Renewal Rent Growth

4.2%

No prior period
New Lease Rent Growth

1.6%

No prior period
Blended Rent Growth

3.5%

No prior period
Same Store NOI Growth

2.7%

No prior period
Same Store Core Revenues Growth

2.5%

No prior period
Same Store Core Operating Expenses Growth

2.2%

No prior period
Capital Expenditures

-$566M

Previous: -$926M+38.9%
Free Cash Flow

-$471M

Previous: -$794M+40.7%
Net Income

$95.3M

Previous: $132M-27.7%
Operating Income

$360M

Previous: $339M+6.4%
Gross Profit

$384M

Previous: $365M+5.2%
Cash & Equivalents

$1.03B

Previous: $763M+34.7%
Total Assets

$19.6B

Previous: $19.5B+0.9%
Stock-Based Comp

$5.42M

Previous: $8.93M-39.3%

Revenue & EPS history

Invitation Homes · Revenue · Quarterly

$660M

Q3 2024+6.9%vs Q3 2023
Beat estimate in 12 of 15 quarters(80%)
ActualEstimate

Revenue by segment

Invitation Homes · $555M total across 1 segment · Q3 2023

  • Rental and Other Property Income
    $555M+7.9%

Forward guidance

The Company has revised its full year 2024 guidance expectations.

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 Q3 2024

Historical avgQ3 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

Earnings price reactions
QuarterReport dateReaction (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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