NYSE$INVH
Invitation Homes Inc · Q4 2024 earnings
Q4 2024 earnings · · After market close · Investor relations
Briefing
Invitation Homes reported solid revenue growth and strong operational performance in Q4 2024, with increased rental income and stable occupancy rates.
Invitation Homes delivered a 5.6% year-over-year revenue increase in Q4 2024, reaching $659 million. Net income totaled $143 million, or $0.23 per share, while Core FFO per share grew by 5.9% to $0.47. Average monthly rent increased by 3.1%, and occupancy remained strong at 96.7%. The company continued expanding its portfolio, acquiring 501 homes during the quarter.
- Q4 2024 revenue increased 5.6% year-over-year to $659 million.
- Net income for Q4 2024 was $143 million ($0.23 per share), up from $129 million in Q4 2023.
- Core FFO per share rose 5.9% year-over-year to $0.47.
- Average monthly rent increased by 3.1% while occupancy remained strong at 96.7%.
Headline financials
Revenue & EPS history
Invitation Homes · Revenue · Quarterly
$659M
Revenue by segment
Invitation Homes · $555M total across 1 segment · Q3 2023
- Rental and Other Property Income$555M+7.9%100.0%
Forward guidance
Invitation Homes anticipates moderate revenue growth in 2025, with continued strong demand for rental properties and disciplined expense management.
Tailwinds
- FY25 Core FFO per share guidance set at $1.88 to $1.94, reflecting continued profitability.
- Revenue expected to grow by 1.75% to 3.25% year-over-year.
- Same Store NOI projected to increase by 1.00% to 3.00%.
- Plans to acquire $500M to $700M worth of wholly owned properties.
- Significant portion of debt remains fixed-rate, mitigating interest rate risk.
Headwinds
- Operating expenses expected to increase by 2.75% to 4.25%.
- Average occupancy forecasted to slightly decline to 96.2%-96.8%.
- Higher property tax rates anticipated to impact operating costs.
- Market conditions may slow new lease rent growth.
- Regulatory changes in certain markets could affect rental pricing flexibility.
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 Q4 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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