The company said its total revenues for the 3-month period ended March 31, 2024 were $646.0 million ($589.9 million in the prior-year period), and total portfolio rental revenues and other property income rose 7.8% to $632.1 million.

1. 01

   The company said its total revenues for the 3-month period ended March 31, 2024 were $646.0 million ($589.9 million in the prior-year period), and total portfolio rental revenues and other property income rose 7.8% to $632.1 million.

2. 02

   Invitation Homes said average monthly rent per occupied home for the total portfolio rose 4.4% to $2,358 ($2,259 a year earlier), while average occupancy was 96.7% (97.2% in the prior-year period).

3. 03

   The company said management fee revenues for the 3-month period were $13.9 million ($3.4 million a year earlier), and it cited an increase in the number of homes for which it provides property and asset management services as the reason. As of March 31, 2024, it managed 18,122 homes.

4. 04

   The company said net cash provided by operating activities for the 3 months was $265.6 million, down 16.4% from $317.8 million a year earlier. It said unrestricted cash and cash equivalents were $738.1 million as of March 31, 2024, and it did not report any restriction on those balances.

Key figures

Quarter ended March 31, 2024

Revenue

$646M

Net income

$142M

EPS

$0.23

Operating cash flow

$266M

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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