Announcement • Jun 13
Invitation Homes Announces Quarterly Cash Dividend, Payable on or Before July 17, 2026 Invitation Homes Inc. announced that it has declared a quarterly cash dividend of $0.30 per share payable on shares of its common stock. The dividend will be paid on or before July 17, 2026, to stockholders of record of the Company’s common stock as of the close of business on June 25, 2026. Announcement • May 02
Invitation Homes Inc. Maintains Earnings Guidance for the Year 2026 Invitation Homes Inc. maintained earnings guidance for the year 2026. For the year, the company expects same store core revenues growth of 1.3% to 2.5% with a mid-points of 1.9%. Announcement • Apr 30
Invitation Homes Inc. (NYSE:INVH) announces an Equity Buyback for $500 million worth of its shares. Invitation Homes Inc. (NYSE:INVH) announces a share repurchase program. Under the program, the company will repurchase up to $500 million worth of its shares. The Share Repurchase Program does not have an expiration date. Announcement • Apr 09
Invitation Homes Inc. to Report Q1, 2026 Results on Apr 29, 2026 Invitation Homes Inc. announced that they will report Q1, 2026 results After-Market on Apr 29, 2026 Announcement • Mar 27
Invitation Homes Inc., Annual General Meeting, May 07, 2026 Invitation Homes Inc., Annual General Meeting, May 07, 2026. Announcement • Mar 13
Invitation Homes Announces Quarterly Cash Dividend, Payable on or Before April 17, 2026 Invitation Homes Inc. announced that it has declared a quarterly cash dividend of $0.30 per share payable on shares of its common stock. The dividend will be paid on or before April 17, 2026, to stockholders of record of the Company’s common stock on March 26, 2026. Announcement • Feb 19
Invitation Homes Inc. Provides Earnings Guidance for the Year 2026 Invitation Homes Inc. provided earnings guidance for the year 2026. For the year, the company expects same store core revenues growth of 1.3% to 2.5%. Announcement • Jan 22
Invitation Homes Inc. to Report Q4, 2025 Results on Feb 18, 2026 Invitation Homes Inc. announced that they will report Q4, 2025 results After-Market on Feb 18, 2026 Announcement • Jan 17
Invitation Homes Inc. (NYSE:INVH) acquired Resibuilt Homes, LLC for $96.5 million. Invitation Homes Inc. (NYSE:INVH) acquired Resibuilt Homes, LLC for $96.5 million on January 16, 2026. A cash consideration of $89 million will be paid by Invitation Homes Inc. Invitation Homes Inc. will pay an earnout payment of $7.5 million cash. As part of consideration, $96.5 million is paid towards common equity of Resibuilt Homes, LLC.
Jones Day acted as legal advisor for Invitation Homes Inc. Alston & Bird LLP acted as legal advisor for Resibuilt Homes, LLC. Zelman & Associates LLC, Investment Banking arm acted as financial advisor for Resibuilt Homes, LLC.
Invitation Homes Inc. (NYSE:INVH) completed the acquisition of Resibuilt Homes, LLC on January 16, 2026. Announcement • Jan 03
Invitation Homes Inc. Announces Retirement of Mark Solls as Executive Vice President, Chief Legal Officer and Secretary by the End of Fiscal 2026 On December 31, 2025, Mark Solls, Executive Vice President, Chief Legal Officer and Secretary of Invitation Homes Inc., informed the Board of Directors of the Company of his plan to retire by the end of fiscal 2026, after over a decade of service to the Company, effective upon the appointment of his successor. Thereafter, Mr. Solls has agreed to continue to serve the Company in an advisory capacity, assisting with the transition of his duties and providing ongoing strategic advice and support to the President and Chief Executive Officer and senior management of the Company. The Company has begun a comprehensive search process to fill the Chief Legal Officer and Secretary’s role and will consider internal and external candidates. Any final succession decision will be determined at a future date and publicly announced as legally required. Mr. Solls' decision to retire is not the result of any disagreement with the Company on any matter relating to its strategy, operations, performance, policies, practices, or otherwise. Announcement • Dec 13
Invitation Homes Announces Quarterly Cash Dividend, Payable on or Before January 16, 2026 Invitation Homes Inc. announced that it has declared a quarterly cash dividend of $0.30 per share payable on shares of its common stock, representing a 3.4% increase over the prior quarterly dividend of $0.29 per share. The dividend will be paid on or before January 16, 2026, to stockholders of record of the Company’s common stock as of the close of business on December 23, 2025. Announcement • Oct 07
Invitation Homes Inc. to Report Q3, 2025 Results on Oct 29, 2025 Invitation Homes Inc. announced that they will report Q3, 2025 results After-Market on Oct 29, 2025 Announcement • Sep 12
Invitation Homes Inc. Announces Quarterly Cash Dividend, Payable on or Before October 17, 2025 Invitation Homes Inc. announced that it has declared a quarterly cash dividend of $0.29 per share payable on shares of its common stock. The dividend will be paid on or before October 17, 2025, to stockholders of record of the Company’s common stock as of the close of business on September 25, 2025. Announcement • Jul 31
Invitation Homes Inc. Reaffirms Earnings Guidance for the Year 2025 Invitation Homes Inc. reaffirmed earnings guidance for the year 2025. For the year, the company expects same store core revenues growth of 1.75% to 3.25%. Announcement • Jul 10
Invitation Homes Inc. to Report Q2, 2025 Results on Jul 30, 2025 Invitation Homes Inc. announced that they will report Q2, 2025 results After-Market on Jul 30, 2025 Announcement • Jun 30
Invitation Homes Inc.(NYSE:INVH) dropped from Russell 1000 Dynamic Index Invitation Homes Inc.(NYSE:INVH) dropped from Russell 1000 Dynamic Index Announcement • Jun 13
Invitation Homes Inc. Announces Quarterly Cash Dividend, Payable on or Before July 18, 2025 Invitation Homes Inc. announced that it has declared a quarterly cash dividend of $0.29 per share payable on shares of its common stock. The dividend will be paid on or before July 18, 2025, to stockholders of record of the Company’s common stock as of the close of business on June 26, 2025. Announcement • Apr 10
Invitation Homes Inc. to Report Q1, 2025 Results on Apr 30, 2025 Invitation Homes Inc. announced that they will report Q1, 2025 results After-Market on Apr 30, 2025 Announcement • Apr 04
Invitation Homes Inc., Annual General Meeting, May 15, 2025 Invitation Homes Inc., Annual General Meeting, May 15, 2025. Announcement • Mar 14
Invitation Homes Announces Quarterly Cash Dividend, Payable on or Before April 17, 2025 Invitation Homes Inc. announced that it has declared a quarterly cash dividend of $0.29 per share payable on shares of its common stock. The dividend will be paid on or before April 17, 2025, to stockholders of record of the Company’s common stock as of the close of business on March 27, 2025. Announcement • Feb 27
Invitation Homes Inc. Provides Earnings Guidance for the Year 2025 Invitation Homes Inc. provided earnings guidance for the year 2025. For the year, the company expects Same Store Core Revenues growth in the range of 1.75% to 3.25%. Announcement • Feb 26
Invitation Homes Inc. Announces Management Changes Invitation Homes Inc. announced the promotion of Timothy J. Lobner to Executive Vice President and Chief Operating Officer, effective March 2, 2025. Charles D. Young will continue in the role of President. Mr. Lobner has served as Executive Vice President and Head of Field Operations for Invitation Homes since December 2023, overseeing the Company’s property management operations. Prior to that, he was Executive Vice President, Operations Support, since January 2014. Mr. Lobner joined Invitation Homes in October 2012. From 2006 to 2012, he worked at Trammell Crow Company, the commercial real estate development subsidiary of CBRE, where he focused on industrial, office, and retail opportunities. Before beginning his real estate career, Mr. Lobner served as a nuclear submarine officer in the United States Navy from 1999 to 2005. He holds a Bachelor of Science in Mechanical Engineering from the United States Naval Academy and a Master of Business Administration from the University of Chicago Booth School of Business. Announcement • Dec 13
Invitation Homes Inc. Declares Quarterly Cash Dividend, Payable on or Before January 17, 2025 Invitation Homes Inc. announced that its board of directors has declared a regular quarterly cash dividend of $0.29 per share payable on shares of its common stock, representing a 3.6% increase over the prior quarterly dividend of $0.28 per share. The dividend will be paid on or before January 17, 2025, to stockholders of record of the Company’s common stock as of the close of business on December 26, 2024. Reported Earnings • Nov 01
Third quarter 2024 earnings released: FFO per share: US$0.4 (vs US$0.40 in 3Q 2023) Third quarter 2024 results: FFO per share: US$0.4 (down from US$0.40 in 3Q 2023). Revenue: US$648.2m (up 5.8% from 3Q 2023). Funds from operations (FFO): US$228.3m (down 6.6% from 3Q 2023). FFO margin: 35% (down from 40% in 3Q 2023). Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Residential REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Announcement • Oct 03
Invitation Homes Inc. to Report Q3, 2024 Results on Oct 30, 2024 Invitation Homes Inc. announced that they will report Q3, 2024 results After-Market on Oct 30, 2024 Announcement • Sep 28
Invitation Homes Appoints H. Wyman Howard to Its Board of Directors, Effective October 1, 2024 Invitation Homes Inc. announced that retired Navy Rear Admiral H. Wyman Howard will join its board of directors October 1, 2024. Howard retired from the U.S. Navy in September 2022 after more than 32 years of service for the SEAL teams and Joint Special Operations. He has had multiple tours in command of Special Operations Joint Task Forces and was among the first to deploy into Afghanistan following the terrorist attacks on September. 11, 2001. Howard also serves on the board of Bridger Aerospace Group Holdings Inc., an aerial firefighting and aerospace services company. A decision like this was likely in the works well before the FTC settlement was announced but the move could shore up confidence in the Dallas company, which owns and manages more than 80,000 homes across the country. The share price of Invitation Homes has fallen about 3% this week although it is up more than 2% since the start of the year. Announcement • Sep 13
Invitation Homes Inc. Declares Quarterly Cash Dividend, Payable on or Before October 18, 2024 Invitation Homes Inc. announced that it has declared a quarterly cash dividend of $0.28 per share payable on shares of its common stock. The dividend will be paid on or before October 18, 2024, to stockholders of record of the Company’s common stock as of the close of business on September 26, 2024. Reported Earnings • Jul 25
Second quarter 2024 earnings released: EPS: US$0.12 (vs US$0.23 in 2Q 2023) Second quarter 2024 results: EPS: US$0.12 (down from US$0.23 in 2Q 2023). Revenue: US$653.5m (up 9.2% from 2Q 2023). Net income: US$73.0m (down 47% from 2Q 2023). Profit margin: 11% (down from 23% in 2Q 2023). Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Residential REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. New Risk • Jul 25
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.01% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.0x net interest cover). Earnings are forecast to decline by an average of 0.01% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Significant insider selling over the past 3 months (€2.3m sold). Announcement • Jul 23
Invitation Homes Inc. Announces Settlement of California Qui Tam Dispute Invitation Homes Inc. announced that it has reached an agreement to settle the legal dispute entitled City of San Diego et al v. Invitation Homes Inc. The complaint in the dispute, also known as a qui tam action filed under the California False Claims Act, alleged that the Company’s contractors failed to pull building permits on certain home improvements. The Company has maintained that the complaint was without merit since it was filed. However, the Company believes reaching this settlement is in the best interest of all its stakeholders and allows the Company to better focus on its core business operations. Upon final approval of the settlement agreement by the U.S. District Court in the Southern District of California, the Company will pay a total amount of $19,992,900 to completely resolve the dispute, thereby fully releasing the Company without any admission of liability. Announcement • Jul 04
Invitation Homes Inc. to Report Q2, 2024 Results on Jul 24, 2024 Invitation Homes Inc. announced that they will report Q2, 2024 results at 4:00 PM, US Eastern Standard Time on Jul 24, 2024 Upcoming Dividend • Jun 20
Upcoming dividend of US$0.28 per share Eligible shareholders must have bought the stock before 27 June 2024. Payment date: 19 July 2024. Trailing yield: 3.1%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (5.4%). Announcement • Jun 15
Invitation Homes Inc. Announces Quarterly Cash Dividend, Payable on or Before July 19, 2024 Invitation Homes Inc. announced that it has declared a quarterly cash dividend of $0.28 per share payable on shares of its common stock. The dividend will be paid on or before July 19, 2024, to stockholders of record of the Company’s common stock as of the close of business on June 27, 2024. Announcement • Jun 06
Invitation Homes Inc. Announces Update to Its New Product Pipeline Invitation Homes Inc. announced an update to its new product pipeline, which represents a strategic collaboration between the Company and its national and regional homebuilder partners to bring new supply of housing to many communities across the United States. During the second quarter to date, the Company and several of its homebuilder partners went under contract to construct over 1,000 newly built homes at a total investment of approximately $274 million. These homes will be located in three of the Company's core markets of Dallas, Houston, and the Carolinas, with deliveries expected to begin later this month. Recent Insider Transactions • May 12
President & COO recently sold €2.1m worth of stock On the 9th of May, Charles Young sold around 66k shares on-market at roughly €32.26 per share. This transaction amounted to 23% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Charles' only on-market trade for the last 12 months. Announcement • May 03
Invitation Homes Inc. Provides Earnings Guidance for the Full Year of 2024 Invitation Homes Inc. provided earnings guidance for the full year of 2024. For the year, the company expects same store core revenues growth to be between 4.5% to 5.5% and Same store NOI growth to be between 3.5% to 5.5%. Reported Earnings • May 01
First quarter 2024 earnings released: EPS: US$0.23 (vs US$0.20 in 1Q 2023) First quarter 2024 results: EPS: US$0.23 (up from US$0.20 in 1Q 2023). Revenue: US$646.0m (up 10% from 1Q 2023). Net income: US$142.2m (up 18% from 1Q 2023). Profit margin: 22% (up from 21% in 1Q 2023). Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 1.2% growth forecast for the Residential REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • Apr 11
Invitation Homes Inc. to Report Q1, 2024 Results on Apr 30, 2024 Invitation Homes Inc. announced that they will report Q1, 2024 results After-Market on Apr 30, 2024 Announcement • Apr 04
Invitation Homes Inc., Annual General Meeting, May 15, 2024 Invitation Homes Inc., Annual General Meeting, May 15, 2024, at 08:30 Eastern Standard Time. Agenda: To elect the director nominees listed in this Proxy Statement; to ratify the appointment of Deloitte & Touche LLP as our independent registered public accounting firm for 2024; and to approve, in a non-binding advisory vote, the compensation paid to our named executive officers. Announcement • Mar 15
Invitation Homes Inc. Declares Quarterly Cash Dividend, Payable on or Before April 19, 2024 Invitation Homes Inc. announced that it has declared a quarterly cash dividend of $0.28 per share payable on shares of its common stock. The dividend will be paid on or before April 19, 2024, to stockholders of record of the Company’s common stock as of the close of business on March 28, 2024. Reported Earnings • Feb 23
Full year 2023 earnings released: FFO per share: US$1.7 (vs US$1.52 in FY 2022) Full year 2023 results: FFO per share: US$1.7 (up from US$1.52 in FY 2022). Revenue: US$2.41b (up 8.3% from FY 2022). Funds from operations (FFO): US$1.01b (up 8.8% from FY 2022). FFO margin: 42% (in line with FY 2022). Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, while revenues in the Residential REITs industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. New Risk • Feb 16
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.2% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.0x net interest cover). Earnings are forecast to decline by an average of 0.2% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Announcement • Feb 14
Invitation Homes Inc. Provides Earnings Guidance for the Full Year of 2024 Invitation Homes Inc. provided earnings guidance for the full year of 2024. For the year, the company expects same store core revenues growth to be between 4.5% to 5.5%, Same Store Core Operating Expenses growth 5.5% to 7.0% and Same store NOI growth to be between 3.5% to 5.5%. Reported Earnings • Feb 14
Full year 2023 earnings released: EPS: US$0.85 (vs US$0.63 in FY 2022) Full year 2023 results: EPS: US$0.85 (up from US$0.63 in FY 2022). Revenue: US$2.43b (up 9.1% from FY 2022). Net income: US$518.8m (up 36% from FY 2022). Profit margin: 21% (up from 17% in FY 2022). Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, while revenues in the Residential REITs industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • Jan 25
Invitation Homes Inc. to Report Q4, 2023 Results on Feb 13, 2024 Invitation Homes Inc. announced that they will report Q4, 2023 results on Feb 13, 2024 Upcoming Dividend • Dec 19
Upcoming dividend of US$0.28 per share at 3.0% yield Eligible shareholders must have bought the stock before 26 December 2023. Payment date: 19 January 2024. Trailing yield: 3.0%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (5.7%). Announcement • Dec 08
Invitation Homes Inc. Declares Quarterly Cash Dividend, Payable on or Before January 19, 2024 Invitation Homes Inc. announced that its board of directors has declared a regular quarterly cash dividend of $0.28 per share payable on shares of its common stock, representing a 7.7% increase over the prior quarterly dividend of $0.26 per share. The dividend will be paid on or before January 19, 2024, to stockholders of record of the Company’s common stock as of the close of business on December 27, 2023. Announcement • Nov 01
Invitation Homes Inc. Announces Executive Changes Invitation Homes Inc. announced it is making several leadership changes to address continued growth and prepare for future expansion. The following changes will be in effect by the end of the year after a brief transition period. Creation of BTR Team: Alicia MacPhee, Senior Vice President (SVP), Field Division, will move into the newly created role of SVP, BTR Asset Management. MacPhee’s tenure in all forms of real estate, including 18 years with Pulte Homes, will provide an excellent foundation for her to oversee and capture additional value in all aspects of the company’s BTR growth and operations. She will report to Scott Eisen, Executive Vice President (EVP) and Chief Investment Officer. New Field Division Structure: The company will expand from its current two field divisions to three field divisions. With this change comes several organizational adjustments: Tim Lobner, EVP, Operations Support, will become EVP and Head of Field Operations. In this role, he will take responsibility for all three field divisions and will retain oversight of Rehabs, Turns & Maintenance (RTM). Lobner’s extensive experience in operations provides an excellent background for him to continue to enhance the company’s operational abilities, customer service, and team development. Lobner will continue to report to Young. Tracy Valenzuela will remain SVP, Field Division, for the West. She will report to Lobner. The company will begin a search for the two open field division leadership positions. Aaron Stone, SVP, Rehabs, Turns & Maintenance, will remain National RTM Lead and will expand responsibility to include Procurement. He will continue to report to Lobner. Enhancing the Resident Experience: The company is making adjustments in its organization to continue its focus on providing an exceptional resident experience. Phil Yi, SVP, Marketing, will become SVP, Head of Marketing and Resident Experience. He will continue to lead the company’s Marketing efforts and will add responsibility for value-add services as part of the full resident experience. Yi also will take on additional responsibility as the Head of Resident Experience with a focus on enhancing the customer care experience. He will continue to report to Young. Paul Mauk, SVP, Portfolio Development, will continue to lead the company’s value-add services and will now report to Yi. This change will provide a clearer line of sight between the development of value-add services and the resident experience. Enterprise-wide Data Analytics and Revenue Management: Garret Van Parys, currently Vice President, Analytics & Operations Planning, will become SVP, Enterprise Analytics and Revenue Management. Van Parys has revolutionized the way the company’s Operations team uses analytics to drive improvements in the business, and in this new role he will expand that approach enterprise-wide in order to enhance financial performance and competitive positioning. He will continue to report to Young. Upcoming Dividend • Oct 30
Upcoming dividend of US$0.26 per share at 3.6% yield Eligible shareholders must have bought the stock before 06 November 2023. Payment date: 22 November 2023. Trailing yield: 3.6%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (6.7%). Announcement • Oct 27
Invitation Homes Inc. Revises Earnings Guidance for Full Year 2023 Invitation Homes Inc. revised earnings guidance for Full year 2023. For the period, the company expects Same Store Core Revenues growth to be 6.25% to 6.75% as compared to previous 5.75% to 6.75%. Same Store NOI growth to be 4.5% to 5.0% as compared to previous 4.5% to 5.5%. Reported Earnings • Oct 26
Third quarter 2023 earnings released: EPS: US$0.21 (vs US$0.13 in 3Q 2022) Third quarter 2023 results: EPS: US$0.21 (up from US$0.13 in 3Q 2022). Revenue: US$617.7m (up 8.8% from 3Q 2022). Net income: US$131.6m (up 67% from 3Q 2022). Profit margin: 21% (up from 14% in 3Q 2022). Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 1.4% growth forecast for the Residential REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • Oct 21
Invitation Homes Inc. Declares Quarterly Cash Dividend, Payable on or Before November 22, 2023 Invitation Homes Inc. announced that it has declared a quarterly cash dividend of $0.26 per share payable on shares of its common stock. The dividend will be paid on or before November 22, 2023, to stockholders of record of the Company’s common stock as of the close of business on November 7, 2023. Buying Opportunity • Oct 11
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 5.1%. The fair value is estimated to be €37.90, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.6% over the last 3 years. Earnings per share has grown by 28%. For the next 3 years, revenue is forecast to grow by 5.0% per annum. Earnings is also forecast to grow by 5.4% per annum over the same time period. Announcement • Oct 05
Invitation Homes Inc. to Report Q3, 2023 Results on Oct 25, 2023 Invitation Homes Inc. announced that they will report Q3, 2023 results After-Market on Oct 25, 2023 Buying Opportunity • Sep 21
Now 20% undervalued Over the last 90 days, the stock is up 4.0%. The fair value is estimated to be €39.04, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.6% over the last 3 years. Earnings per share has grown by 28%. For the next 3 years, revenue is forecast to grow by 5.0% per annum. Earnings is also forecast to grow by 5.3% per annum over the same time period. Upcoming Dividend • Jul 31
Upcoming dividend of US$0.26 per share at 2.9% yield Eligible shareholders must have bought the stock before 07 August 2023. Payment date: 25 August 2023. Trailing yield: 2.9%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (5.9%). Reported Earnings • Jul 27
Second quarter 2023 earnings released: EPS: US$0.23 (vs US$0.18 in 2Q 2022) Second quarter 2023 results: EPS: US$0.23 (up from US$0.18 in 2Q 2022). Revenue: US$600.4m (up 8.3% from 2Q 2022). Net income: US$137.7m (up 24% from 2Q 2022). Profit margin: 23% (up from 20% in 2Q 2022). Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Residential REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Announcement • Jul 23
Invitation Homes Inc. Declares Quarterly Cash Dividend on Shares of Its Common Stock, Payable on or Before August 25, 2023 Invitation Homes Inc. announced that it has declared a quarterly cash dividend of $0.26 per share payable on shares of its common stock. The dividend will be paid on or before August 25, 2023, to stockholders of record of the Company’s common stock as of the close of business on August 8, 2023. Announcement • Jul 06
Invitation Homes Inc. to Report Q2, 2023 Results on Jul 26, 2023 Invitation Homes Inc. announced that they will report Q2, 2023 results at 4:00 PM, US Eastern Standard Time on Jul 26, 2023 Announcement • Jun 06
Scott G. Eisen to Join Invitation Homes Inc. as Executive Vice President and Chief Investment Officer in August 2023 Invitation Homes Inc. announced that Scott G. Eisen will join the Company as Executive Vice President and Chief Investment Officer in August 2023. Eisen brings more than 26 years of experience in real estate investment banking, mergers and acquisitions, corporate finance, and business development. In his new role, he will formulate portfolio and capital strategies, assess market opportunities and portfolio construction, and lead execution with an in-house team of asset investment and management professionals. He also will lead the Company’s Investment Committee and serve as a member of the Executive Committee. Eisen succeeds John Gibson, who retired earlier this year. Invitation Homes retained Ferguson Partners to seek candidates to fill the role. Eisen is concluding his current role as Head of North American Real Estate Investment Banking for Citigroup. He is a member of the ICSC Board of Trustees, the Nareit Board of Governors, and the Urban Land Institute. Eisen holds a bachelor’s degree from Princeton University’s School of Public and International Affairs and a master’s degree in business administration from the University of Pennsylvania’s Wharton School of Business. Announcement • May 20
Invitation Homes Inc. Approves Board Elections Invitation Homes Inc. at its AGM held on May 17, 2023 approved election of Frances Aldrich Sevilla-Sacasa and Keith D. Taylor as directors. Reported Earnings • May 03
First quarter 2023 earnings released: FFO per share: US$0.4 (vs US$0.39 in 1Q 2022) First quarter 2023 results: FFO per share: US$0.4 (up from US$0.39 in 1Q 2022). Revenue: US$585.7m (up 11% from 1Q 2022). Funds from operations (FFO): US$255.3m (up 11% from 1Q 2022). FFO margin: 44% (in line with 1Q 2022). Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Residential REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Reported Earnings • Feb 17
Full year 2022 earnings released: FFO per share: US$1.5 (vs US$1.37 in FY 2021) Full year 2022 results: FFO per share: US$1.5 (up from US$1.37 in FY 2021). Revenue: US$2.23b (up 12% from FY 2021). Funds from operations (FFO): US$928.6m (up 18% from FY 2021). FFO margin: 42% (up from 40% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Feb 16
Invitation Homes Inc. Provides Earnings Guidance for the Fiscal Year 2023 Invitation Homes Inc. provided earnings guidance for the fiscal year 2023. For the year, the company expects Same Store Core Revenues growth to be between 5.25% to 6.25%. Embedded within the assumptions for this guidance is slightly lower expected average occupancy versus 2022 due to anticipated higher turnover, as well as elevated bad debt of 25 to 75 basis points higher than 2022. Same Store NOI growth to be between 4.0% to 5.5%. Announcement • Jan 27
Invitation Homes Inc. to Report Q4, 2022 Results on Feb 15, 2023 Invitation Homes Inc. announced that they will report Q4, 2022 results After-Market on Feb 15, 2023 Buying Opportunity • Dec 29
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 20%. The fair value is estimated to be €34.65, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.3% over the last 3 years. Earnings per share has grown by 28%. For the next 3 years, revenue is forecast to grow by 6.5% per annum. Earnings is also forecast to grow by 12% per annum over the same time period. Buying Opportunity • Nov 05
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 16%. The fair value is estimated to be €39.69, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.3% over the last 3 years. Earnings per share has grown by 28%. For the next 3 years, revenue is forecast to grow by 6.6% per annum. Earnings is also forecast to grow by 12% per annum over the same time period. Upcoming Dividend • Oct 31
Upcoming dividend of US$0.22 per share Eligible shareholders must have bought the stock before 07 November 2022. Payment date: 23 November 2022. Trailing yield: 2.7%. Lower than top quartile of German dividend payers (5.2%). Lower than average of industry peers (5.6%). Reported Earnings • Oct 27
Third quarter 2022 earnings released: EPS: US$0.13 (vs US$0.12 in 3Q 2021) Third quarter 2022 results: EPS: US$0.13 (up from US$0.12 in 3Q 2021). Revenue: US$568.7m (up 12% from 3Q 2021). Net income: US$79.0m (up 14% from 3Q 2021). Profit margin: 14% (in line with 3Q 2021). Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the REITs industry in Europe. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Aug 01
Upcoming dividend of US$0.22 per share Eligible shareholders must have bought the stock before 08 August 2022. Payment date: 26 August 2022. Trailing yield: 2.3%. Lower than top quartile of German dividend payers (4.5%). Lower than average of industry peers (4.6%). Reported Earnings • Jul 28
Second quarter 2022 earnings released: EPS: US$0.18 (vs US$0.11 in 2Q 2021) Second quarter 2022 results: EPS: US$0.18 (up from US$0.11 in 2Q 2021). Revenue: US$557.3m (up 13% from 2Q 2021). Net income: US$110.8m (up 84% from 2Q 2021). Profit margin: 20% (up from 12% in 2Q 2021). Over the next year, revenue is forecast to grow 9.6%, compared to a 2.1% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • May 02
Upcoming dividend of US$0.22 per share Eligible shareholders must have bought the stock before 09 May 2022. Payment date: 27 May 2022. Trailing yield: 2.2%. Lower than top quartile of German dividend payers (4.1%). Lower than average of industry peers (4.2%). Reported Earnings • May 01
First quarter 2022 earnings released: FFO: US$530.0m per share (vs US$0.33 in 1Q 2021) First quarter 2022 results: FFO: US$530.0m per share (up from US$0.33 in 1Q 2021). Revenue: US$530.0m (up 11% from 1Q 2021). Funds from operations (FFO): US$229.2m (up 23% from 1Q 2021). FFO margin: 43% (up from 39% in 1Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 10.0% while the industry in Germany is not expected to grow. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Apr 30
Now 22% undervalued Over the last 90 days, the stock is up 2.2%. The fair value is estimated to be €48.65, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.5% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 7.6% per annum. Earnings is also forecast to grow by 18% per annum over the same time period. Reported Earnings • Feb 16
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: US$0.45 (up from US$0.35 in FY 2020). Revenue: US$2.00b (up 9.5% from FY 2020). Net income: US$261.1m (up 33% from FY 2020). Profit margin: 13% (up from 11% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 9.5% while thereits industry in Germany is not expected to grow. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Dec 16
Co-Founder recently sold €871k worth of stock On the 15th of December, Dallas Tanner sold around 23k shares on-market at roughly €37.67 per share. This was the largest sale by an insider in the last 3 months. This was Dallas' only on-market trade for the last 12 months. Upcoming Dividend • Nov 01
Upcoming dividend of US$0.17 per share Eligible shareholders must have bought the stock before 08 November 2021. Payment date: 24 November 2021. Trailing yield: 1.6%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (3.2%). Reported Earnings • Oct 29
Third quarter 2021 earnings released: FFO US$0.36 per share (vs US$0.28 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$509.7m (up 11% from 3Q 2020). Funds from operations (FFO): US$205.6m (up 33% from 3Q 2020). FFO margin: 40% (up from 34% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Announcement • Sep 24
Invitation Homes Inc. has completed a Follow-on Equity Offering in the amount of $500 million. Invitation Homes Inc. has completed a Follow-on Equity Offering in the amount of $500 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 12,500,000
Price\Range: $40
Security Features: Income Trust Upcoming Dividend • Aug 02
Upcoming dividend of US$0.17 per share Eligible shareholders must have bought the stock before 09 August 2021. Payment date: 27 August 2021. Trailing yield: 1.7%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (3.1%). Reported Earnings • Jul 29
Second quarter 2021 earnings released: EPS US$0.11 (vs US$0.078 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: US$491.6m (up 9.3% from 2Q 2020). Net income: US$60.2m (up 41% from 2Q 2020). Profit margin: 12% (up from 9.5% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 80% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Executive Departure • Jun 24
Independent Director William Stein has left the company On the 22nd of June, William Stein's tenure as Independent Director ended after 8.7 years in the role. We don't have any record of a personal shareholding under William's name. A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 3.17 years. Announcement • Jun 08
Invitation Homes Inc. Raises Revenue Guidance for the Full Year of Fiscal 2021 Invitation Homes Inc. raised revenue guidance for the full year of fiscal 2021. For the year, the company expects Same Store Core revenue growth of 4.5% to 5.5% compared to 3.75% to 4.75% provided previously. Executive Departure • May 24
Chairperson of the Board has left the company On the 18th of May, Bryce Blair's tenure as Chairperson of the Board ended after 7.7 years in the role. As of March 2021, Bryce personally held 285.54k shares (€7.8m worth at the time). Bryce is the only executive to leave the company over the last 12 months. Upcoming Dividend • May 03
Upcoming dividend of US$0.17 per share Eligible shareholders must have bought the stock before 10 May 2021. Payment date: 28 May 2021. Trailing yield: 1.9%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (3.5%). Reported Earnings • May 01
First quarter 2021 earnings released: FFO US$0.33 per share (vs US$0.32 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: US$475.6m (up 5.7% from 1Q 2020). Funds from operations (FFO): US$186.2m (up 8.6% from 1Q 2020). FFO margin: 39% (up from 38% in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Mar 13
Executive VP & COO recently sold €1.4m worth of stock On the 10th of March, Charles Young sold around 55k shares on-market at roughly €24.59 per share. This was the largest sale by an insider in the last 3 months. Charles has been a seller over the last 12 months, reducing personal holdings by €1.7m. Announcement • Mar 03
Invitation Homes Inc. Promotes of John Gibson to Executive Vice President and Chief Investment Officer Invitation Homes Inc. announced the promotion of John Gibson to executive vice president and chief investment officer, effective immediately. Mr. Gibson joined Invitation Homes in December 2016 as senior vice president, Asset Management. He was promoted to Executive Vice President, Portfolio Management, in March 2019. Prior to joining Invitation Homes, Mr. Gibson spent 21 years with Goldman Sachs and its subsidiary, Archon Group, with various positions in real estate asset management, strategy, and people management, operating from both domestic and international bases. In addition, Paul Mauk has been promoted to senior vice president, Portfolio Development. Mr. Mauk joined Invitation Homes in June 2019 as vice president, Portfolio Development, to create additional value for the company by optimizing existing and new revenue driven initiatives, with a specific focus on the development of ancillary products and programs outside of Invitation Homes’ traditional leasing business. Prior to joining Invitation Homes, Mr. Mauk held a variety of roles in real estate investment and operations, including a specialty in golf course management and investment. He holds a bachelor’s degree in business administration from Notre Dame. Reported Earnings • Feb 18
Full year 2020 earnings released: EPS US$0.35 (vs US$0.27 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: US$1.82b (up 3.3% from FY 2019). Net income: US$195.8m (up 35% from FY 2019). Profit margin: 11% (up from 8.2% in FY 2019). Over the last 3 years on average, earnings per share has increased by 105% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Analyst Estimate Surprise Post Earnings • Feb 18
Revenue misses expectations Revenue missed analyst estimates by 0.009%. Over the next year, revenue is forecast to grow 5.0%, compared to a 57% growth forecast for the REITs industry in Germany. Is New 90 Day High Low • Feb 03
New 90-day high: €24.80 The company is up 1.0% from its price of €24.60 on 05 November 2020. The German market is up 16% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the REITs industry, which is down 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €24.66 per share. Announcement • Jan 20
Invitation Homes Inc. to Report Q4, 2020 Results on Feb 16, 2021 Invitation Homes Inc. announced that they will report Q4, 2020 results After-Market on Feb 16, 2021 Analyst Estimate Surprise Post Earnings • Oct 30
Third-quarter earnings released: Revenue beats expectations Third-quarter revenue exceeded analyst estimates by 0.08% at US$459.2m. Revenue is forecast to grow 4.4% over the next year, compared to a 128% growth forecast for the REITs industry in Germany. Reported Earnings • Oct 30
Third quarter earnings released Over the last 12 months the company has reported total funds from operations (FFO) of US$651.5m, up 15% from the prior year. Total revenue was US$1.80b over the last 12 months, up 2.8% from the prior year. Announcement • Oct 08
Invitation Homes Announces $375 Million Joint Venture with Rockpoint to Acquire Single-Family Rental Homes Invitation Homes Inc. announced that it has entered into an agreement with Rockpoint Group, L.L.C. (“Rockpoint”) to form a joint venture partnership (“JV”) that will acquire single-family homes to operate as rental residences. The JV will be capitalized with a total equity commitment of $375 million, of which $75 million (20%) will be committed by Invitation Homes and $300 million (80%) will be committed by Rockpoint. A total of over $1 billion (including debt) is expected to be deployed by the JV to acquire and renovate single-family homes in attractive locations in markets within the Western US, Southeast US, Florida, and Texas, where Invitation Homes already owns homes. The homes are expected to be of similarly high quality and similar characteristics to the homes in Invitation Homes’ existing portfolio. Invitation Homes will provide investment, asset management, and property management services to the JV, for which it will earn asset management and property management fees and have the opportunity to earn a promoted interest subject to certain performance thresholds. Invitation Homes also maintains the ability in all markets to continue deploying capital from its own balance sheet to acquire homes for the Invitation Homes portfolio, concurrent with the JV’s deployment of capital, in accordance with pre-specified targets. Announcement • Oct 07
Invitation Homes Inc. to Report Q3, 2020 Results on Oct 28, 2020 Invitation Homes Inc. announced that they will report Q3, 2020 results on Oct 28, 2020 
