The company said total revenues for the 3 months ended June 30, 2024 were $653.5 million, up from $600.4 million a year earlier. Total portfolio rental revenues and other property income totaled $637.5 million, an increase of 6.8%.

1. 01

   The company said total revenues for the 3 months ended June 30, 2024 were $653.5 million, up from $600.4 million a year earlier. Total portfolio rental revenues and other property income totaled $637.5 million, an increase of 6.8%.

2. 02

   Invitation Homes said average monthly rent per occupied home for the total portfolio in Q2 rose 4.0% to $2,379, while average occupancy was 96.6%, down from 97.0% a year earlier.

3. 03

   The company said Other, net expense rose to $54.0 million in Q2 from $3.9 million a year earlier. It cited accruals of $22.0 million for the settlement of the City of San Diego litigation and $37.5 million for the estimated probable loss from the FTC inquiry.

4. 04

   The company said net cash provided by operating activities for the 6 months ended June in 2024 was $635.4 million, up 6.1% from $598.7 million a year earlier. It said dividends and distributions paid over the same period totaled $346.5 million and were funded with operating cash flow.

Key figures

Quarter ended June 30, 2024

Revenue

$653M

Net income

$73M

EPS

$0.12

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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