The company said its Same Store results for October 2024 showed renewal lease rate growth of +3.7%, new lease rate growth of (1.3)%, blended lease rate growth of +2.2%, and average occupancy of 96.5%.

8-KRegulation FD DisclosureFiled Nov 14, 2024Period of report Nov 14, 2024Summary published (UTC) Oct 29, 2026

Key points

AI summary

The company said its Same Store results for October 2024 showed renewal lease rate growth of +3.7%, new lease rate growth of (1.3)%, blended lease rate growth of +2.2%, and average occupancy of 96.5%.
Invitation Homes said it applies centralized strategy, tools and oversight to a total of 110,756 homes as of September 30, 2024, including 85,221 wholly owned homes, 7,619 JV-owned homes and 17,916 homes managed for 3rd party owners.
The company said its homebuilder partnership approach to build-to-rent offers investment yields of about 6%, and that as of September 30, 2024 about 2,500 homes were under construction in its BTR development pipeline.
The company said Same Store value-add revenue was $23M in 2020, $31M in 2021, $41M in 2022 and $50M in 2023, and that its 2024 estimate (2024E) is $63M.

Summary

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Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

October 2024 Same Store Lease Rate Growth and Occupancy

The company said its Same Store results for October 2024 showed renewal lease rate growth of +3.7%, new lease rate growth of (1.3)%, blended lease rate growth of +2.2%, and average occupancy of 96.5%.

Source · Based on the filing body and exhibits

Single-Family Homes Owned, JV and Third-Party Managed

Invitation Homes said it applies centralized strategy, tools and oversight to a total of 110,756 homes as of September 30, 2024, including 85,221 wholly owned homes, 7,619 JV-owned homes and 17,916 homes managed for 3rd party owners.

Source · Based on the filing body and exhibits

Build-to-Rent Partnerships and Approximately 6% Investment Yield

The company said its homebuilder partnership approach to build-to-rent offers investment yields of about 6%, and that as of September 30, 2024 about 2,500 homes were under construction in its BTR development pipeline.

Source · Based on the filing body and exhibits

Value-Add Service Revenue Trend

The company said Same Store value-add revenue was $23M in 2020, $31M in 2021, $41M in 2022 and $50M in 2023, and that its 2024 estimate (2024E) is $63M.

Source · Based on the filing body and exhibits

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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