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15:00
Jul 30 ◎

INVH FY2026 Q2 Watch

Invitation Homes Inc. (INVH) FY2026 Q2 Earnings Call

INVH AMH ▾

Dallas Tanner

Management raised full year guidance, citing strong operational momentum, accelerating rent growth, and improving supply backdrop.

"Combined with what Tim and John are about to cover, our first half performance gave us confidence to raise our full year guidance."

INVH WATCH

Tim Lobner

Investors are valuing homes in INVH's portfolio at ~$270k each while asset sales fetch ~$450k, implying NAV arbitrage is driving buybacks. — Highlights a disconnect between public market valuation and asset-level pricing, potentially attractive for strategic buyers but signalling low stock market confidence.

"We're seeing some really nice supply reduction in markets like Tampa, Orlando, Phoenix. There are other markets that are a bit slower..."

AMH WATCH

HIGH

15:00
Apr 30 ◎

INVH FY2026 Q1 Watch

Invitation Homes Inc. (INVH) FY2026 Q1 Earnings Call

INVH LEN DHI PHM ▾

Tim Loebner

Management expresses confidence in improving momentum heading into peak leasing season, with occupancy climbing and new lease rent growth turning positive, which supports a positive outlook for the year.

"We feel good about where we stand. Occupancy is climbing as we enter peak leasing season. New lease rent growth turned positive in April."

INVH WATCH

Dallas Tanner

INVH has dramatically reduced its forward purchase pipeline by two-thirds year-over-year, signaling a sharp pullback in acquisition activity and reduced demand for new SFR supply from home builders. — This is a direct signal of reduced institutional demand for build-to-rent homes, which could pressure homebuilder order books going forward.

"Our forward pipeline today stands at just over $200 million, reduced roughly two thirds from where it was a year ago."

LEN WATCH DHI WATCH PHM WATCH

HIGH

16:00
Feb 19 ◎

INVH FY2025 Q4 Watch

Invitation Homes Inc. (INVH) FY2025 Q4 Earnings Call

CB INVH PGR AMH ▾

John Olson

Insurance costs are rising materially due to a hardening general liability, excess casualty, and auto market, offsetting favorable property insurance renewals. — This indicates that commercial insurance carriers are raising rates for property managers, a trend that could benefit insurers like Chubb (CB) and Progressive (PGR).

"it's in the general liability, excess casualty, and auto market that has become materially harder and where we think we'll see some outsized increases year over year"

CB WATCH PGR WATCH

John Olson

Guidance for 2026 is soft, reflecting elevated supply pressures, higher expenses (insurance, advocacy), and a cautious outlook on new lease rates, tempered by stable renewals and share buybacks.

"This includes our expectation for same-store NOI growth in a range between 0.3% and 2%, driven by expected same-store core revenue growth in a range between 1.3% and 2.5%"

INVH WATCH

Tim Loebner

Despite supply headwinds, INVH has removed all concessions from its scattered-site portfolio, indicating that the worst of the demand absorption may be over. — If INVH can raise rents without concessions, it bodes well for the entire single-family rental sector, including peers like American Homes 4 Rent (AMH).

"Right now, the only specials that we have going are on our build-to-rent communities"

AMH WATCH

HIGH

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