Invitation Homes Q3 revenue beats estimates on rental rate growth
INVH•Invitation Homes’ Q3 revenue rose 6.3% year over year to $731 million, beating the $707.58 million estimate, while Core FFO per share increased 2.4% to $0.48. It raised its FY 2026 Core FFO and same-store NOI growth guidance midpoints and authorized an additional $500 million share buyback.
1. Quarterly results
Invitation Homes reported Q3 revenue of $731 million, up 6.3% year over year and above the $707.58 million analyst estimate. Core FFO per share grew 2.4% to $0.48.
2. Guidance and drivers
The company raised its FY 2026 Core FFO per share guidance midpoint to $1.96 from $1.95 and its same-store NOI growth midpoint to 1.2% from 1.15%. It increased its wholly owned home sales guidance midpoint to $950 million. Same-store core revenue growth reflected a 1.8% increase in average monthly rent and a 2.6% rise in other property income, partly offset by lower occupancy and higher bad debt.
3. Share repurchases
Invitation Homes repurchased nearly $1 billion in shares and authorized an additional $500 million buyback. It said a lower share count from stock repurchases contributed to Core FFO per-share growth.
