Welcome to our dedicated page for Invitation Homes news (Ticker: INVH), a resource for investors and traders seeking the latest updates and insights on Invitation Homes stock.
Invitation Homes Inc. reports news on its single-family home leasing and management business, including quarterly and annual operating results, portfolio performance, occupancy, rent growth, property operating costs, net operating income, FFO, Core FFO and AFFO. Company updates also cover dividends, tax treatment of distributions, share repurchase activity, investor conference participation and management commentary on rental housing demand.
Recurring developments include activity in the company’s Same Store Portfolio, home characteristics by market, acquisition and development pipeline updates, and the completed acquisition of ResiBuilt, which added build-to-rent development and fee-building capabilities in Southeast markets.
Invitation Homes (NYSE: INVH) reported a strong Q2 2021, with revenues up 9.3% to $492 million and net income surging 40.8% to $60 million. Core FFO increased 14.4% to $0.37 per share, while AFFO rose 16.9% to $0.32. The company achieved a Same Store NOI growth of 8.4% and maintained a high occupancy rate of 98.3%. Notably, Invitation Homes plans to acquire 7,500 new homes from PulteGroup over five years. The company raised full-year guidance for Core FFO and AFFO by $0.02 each, reflecting optimistic growth expectations.
Invitation Homes (NYSE: INVH) and PulteGroup (NYSE: PHM) have formed a strategic alliance to enhance single-family home leasing. Over the next five years, Invitation Homes anticipates purchasing around 7,500 newly constructed homes from PulteGroup, tailored for leasing purposes. Initial agreements include over 1,000 homes across seven communities, with first sales expected in 2022. The collaboration aims to meet the rising demand for rental homes, focusing on quality and location, benefiting both companies in their respective markets.
Invitation Homes declared a quarterly cash dividend of $0.17 per share, payable by August 27, 2021, to stockholders of record as of August 10, 2021. This reflects the company's ongoing commitment to returning value to shareholders. As the leading single-family home leasing company in the U.S., Invitation Homes focuses on providing high-quality homes that meet modern lifestyle demands, emphasizing features like job proximity and access to quality schools.
Invitation Homes (NYSE: INVH) has partnered with SkillsUSA for a three-year initiative aimed at addressing the skills gap in the U.S. skilled trades workforce. This collaboration will provide career-readiness training to students and support opportunities at national workforce development conferences. The inaugural pilot programs will launch in Tampa and Charlotte, expanding across the company’s markets by 2023-24. With a commitment to empowering future workers, Invitation Homes recognizes skilled labor as essential to their mission of creating quality living spaces.
Invitation Homes (NYSE: INVH) announced an investment in Fifth Wall’s Climate Technology Fund, targeting decarbonization in the real estate sector. CEO Dallas Tanner emphasized the company's commitment to sustainability and innovation. The fund focuses on technologies that enhance eco-friendly practices across real estate, including materials and operations. Invitation Homes is among the first investors, joining other leaders in the space. The company also integrates smart technology and other sustainable practices to improve energy efficiency and reduce waste, contributing to its environmental goals.
Invitation Homes (NYSE: INVH) has announced its intent to settle conversions of $345 million in 3.50% convertible senior notes due January 15, 2022, with common stock. For holders converting by this date, the conversion ratio is 43.9448 shares per $1,000 of notes, potentially leading to approximately 15 million new shares issued. This conversion is expected to reduce annual cash interest expenses by about $12 million. A pro forma analysis shows an improvement in net debt to trailing twelve months EBITDAre from 7.1x to 6.8x following the conversion.
Invitation Homes (NYSE: INVH) announced it will release its second quarter 2021 financial results on July 28, 2021, after market close. A conference call is scheduled for July 29, 2021, at 11:00 a.m. ET to discuss the results and recent developments. The call will be accessible via the Invitation Homes Investor Relations website. The company focuses on providing high-quality, updated single-family home leasing, emphasizing a commitment to enhancing residents' living experiences.
Invitation Homes (NYSE: INVH) has announced participation in Nareit's REITweek: 2021 Virtual Investor Conference on June 9, 2021. The company reported notable operational growth for May 2021, including a 14.1% increase in same-store new lease rates and a 5.9% rise in renewal rates. With an occupancy rate of 98.3%, Invitation Homes has adjusted its Core FFO and AFFO guidance upwards by $0.04 and $0.05, respectively, reflecting a positive outlook for the year.
Invitation Homes (NYSE: INVH) has issued $300 million in senior unsecured notes with a weighted average coupon of 2.82%. This placement follows a ‘BBB’ rating from Fitch Ratings, enabling its closure on May 25, 2021. The notes consist of a $150 million tranche maturing in 2028 at 2.46% and another $150 million tranche maturing in 2036 at 3.18%. Proceeds will be utilized for general corporate purposes, including prepayment of high-cost classes of various securitizations maturing between December 2024 and January 2026. The transaction aims to diversify the company's balance sheet.
Invitation Homes reported a 5.7% increase in total revenues to $475 million for Q1 2021, alongside a 14.9% rise in net income to $57 million. Core FFO per share grew 4.5% to $0.36, while AFFO per share increased 6.8% to $0.31. The company achieved a 98.4% occupancy rate, up 170 basis points year-over-year, and reported strong rent growth with 7.9% for new leases. Following a quarter of significant acquisitions, the company also received investment-grade ratings from major agencies, enhancing its financial positioning.