Invitation Homes Q1 revenue eases past estimates

Invitation Homes

29/04/2026 21:26

Overview

U.S. single-family home landlord's Q1 revenue rose 8.8%, beating analyst expectations

Net income per share fell 2.3% yr/yr, while Core FFO per share was flat

Outlook

Invitation Homes maintains FY 2026 Core FFO per share guidance at $1.90-$1.98

Company expects FY 2026 AFFO per share of $1.60-$1.68

Invitation Homes sees FY 2026 Same Store NOI growth of 0.3%-2.0%

Result Drivers

RENT AND OTHER INCOME - Co said Same Store Core Revenues growth of 1.6% was driven by higher average monthly rent and a 10.3% increase in other income, partially offset by lower occupancy

OPERATING EXPENSES - Same Store Core Operating Expenses rose 5.7%, mainly due to a 12.1% increase in controllable expenses, which the co attributed to favorable timing of certain expense items in the prior year

HOME SALES - Co was a net seller of 222 wholly owned homes, generating net proceeds of about $116 mln, with dispositions tracking ahead of expectations

Company press release: ID:nBw6pm5VKa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$734 mln
$680.17 mln (15 Analysts)
Q1 EPS
$0.26
Q1 Core FFO Per Share
$0.48


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 14 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the residential reits peer group is "buy"

Wall Street's median 12-month price target for Invitation Homes Inc is $30.00, about 6.6% above its April 28 closing price of $28.14

The stock recently traded at 38 times the next 12-month earnings vs. a P/E of 35 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)