Invitation Homes Stock Price, News & Analysis

Invitation Homes Inc. (NYSE: INVH) announced that its operating partnership has priced a public offering of $500 million aggregate principal amount of 4.875% Senior Notes due 2035. The Notes were priced at 98.855% of the principal amount and will mature on February 1, 2035. The offering is expected to close on September 26, 2024, subject to customary conditions.

The Notes will be fully and unconditionally guaranteed by the Company, Invitation Homes OP GP , and IH Merger Sub, The net proceeds will be used for general corporate purposes, including potential repayment of indebtedness, working capital, acquisitions and renovations of single-family properties.

Multiple financial institutions are acting as joint book-running managers and co-managers for the offering. The offering is being made pursuant to an effective shelf registration statement filed with the SEC.

Invitation Homes (NYSE: INVH), the leading single-family home leasing and management company in the US, has received a credit rating upgrade from Fitch Ratings. The company's issuer and issue-level credit ratings have been raised to 'BBB+' from 'BBB' with a stable outlook.

Fitch's upgrade reflects Invitation Homes' progress in reducing leverage and enhancing capital markets access. The rating agency also noted the company's favorable operating trends in its sector and its well-diversified, granular portfolio.

Jon Olsen, Executive Vice President and CFO of Invitation Homes, expressed satisfaction with the upgrade, viewing it as validation of the company's strong balance sheet, financial flexibility, and overall growth strategy.

Invitation Homes Inc. (NYSE: INVH), the leading single-family home leasing and management company in the United States, has announced a quarterly cash dividend of $0.28 per share on its common stock. The dividend will be paid on or before October 18, 2024, to stockholders of record as of the close of business on September 26, 2024. This announcement demonstrates Invitation Homes' commitment to providing regular returns to its shareholders and reflects the company's financial stability in the competitive real estate market.

Invitation Homes (NYSE: INVH), the leading single-family home leasing company in the U.S., has announced a partnership with the American Red Cross Sound the Alarm campaign. As a regional presenting sponsor, Invitation Homes will support efforts to install free smoke alarms, help families create escape plans, and educate the public about home fire safety.

The company is also a National Red Cross Disaster Responder member, directly supporting the organization's disaster relief fund. This enables the Red Cross to prepare for, respond to, and recover from over 62,000 disasters across the United States annually. Charles Young, President and COO of Invitation Homes, emphasized the company's commitment to equipping homes with smoke alarms and educating residents on fire prevention.

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.