Invitation Homes Stock Price, News & Analysis

Invitation Homes Inc. (NYSE: INVH) has closed a $3.5 billion senior unsecured credit facility, comprising a $1.75 billion revolving line of credit and a $1.75 billion term loan. The facility matures in September 2028, with two 6-month extension options. This new facility replaces the company's existing $1.0 billion revolving credit facility and $2.5 billion unsecured term loan. The increased revolver size is expected to enhance liquidity and balance sheet flexibility for growth opportunities.

Based on INVH's BBB / Baa2 credit rating, the new revolver will bear interest at SOFR + 95 bps for used portions, with a 20 bps fee on aggregate commitments. The term loan will bear interest at SOFR + 105 bps. Both rates are 5 bps lower than the previous facility. The transaction involved 26 lenders, with Bank of America, N.A. as Administrative Agent.

Invitation Homes Inc. (NYSE: INVH), the leading single-family home leasing and management company in the US, has announced significant acquisitions for Q3 2023. The company has entered agreements to acquire 580 single-family homes from two homebuilder partners, with a total investment of approximately $216 million. These homes are located in Tampa, Denver, and the Carolinas.

Notably, 80% of the acquisitions are completed homes in various stages of stabilization, while the remaining 20% are future deliveries expected to begin later this month. This move aligns with Invitation Homes' external growth objectives and showcases the company's strategic partnerships with homebuilders across different development stages.

Invitation Homes Inc. (NYSE: INVH) reported its Q2 2024 financial results, showing total revenues increased 8.8% to $653 million year-over-year. Core FFO per share rose 7.3% to $0.47, while AFFO per share increased 4.1% to $0.40. Same Store NOI grew 3.8% on 4.8% revenue growth and 7.1% expense growth. The company acquired 502 homes for $166 million and sold 266 homes for $117 million. Invitation Homes also entered contracts to build over 1,000 new homes for $274 million and expanded its third-party management business. The company raised its full-year 2024 Core FFO guidance midpoint by $0.01 to $1.87 per share.

Invitation Homes Inc. (NYSE: INVH) has announced a settlement in the legal dispute known as City of San Diego et al v. Invitation Homes, Inc. This qui tam action, filed under the California False Claims Act, alleged that the company's contractors failed to obtain building permits for certain home improvements. Invitation Homes has consistently maintained that the complaint was without merit.

To resolve the dispute, the company has agreed to pay $19,992,900, pending final approval by the U.S. District Court in the Southern District of California. This settlement will fully release Invitation Homes from the dispute without any admission of liability. The company believes this resolution is in the best interest of all stakeholders and will allow it to focus on its core business operations.

Invitation Homes (NYSE: INVH) will release its Q2 2024 financial and operating results on July 24, 2024, after market close.

A conference call will be held on July 25, 2024, at 11:00 a.m. ET to discuss these results and recent developments, including a Q&A session.

The call will be webcast live, and a replay will be available on the company's investor relations website for one year.

Invitation Homes has announced a quarterly cash dividend of $0.28 per share on its common stock, payable on or before July 19, 2024. Eligible shareholders are those holding stock as of June 27, 2024.

Invitation Homes, a leading single-family home leasing and management company, announced an update to its new product pipeline. The company, in collaboration with national and regional homebuilder partners, is set to introduce over 1,000 newly built homes in Dallas, Houston, and the Carolinas. This initiative involves an investment of approximately $274 million, with deliveries starting later this month. The company aims to address housing supply shortages and generate attractive yields on cost through these strategic partnerships.

Invitation Homes (NYSE: INVH) announced that its management team will participate in a roundtable discussion at Nareit's REITweek 2024 Investor Conference.

The conference is scheduled for Tuesday, June 4, at 11:00 a.m. Eastern Time. A live audio webcast of the event will be accessible through the company's Investor Relations website at www.invh.com.

Additionally, a replay of the webcast will remain available until July 4, 2024.

Invitation Homes Inc. (NYSE: INVH) announced a joint venture with Quarterra Group Inc., a subsidiary of Lennar , Centerbridge Partners, and other investors. Invitation Homes will manage 4,400 single-family homes in its core markets within the Upward America joint venture, aiming to provide quality housing options for families.