Invitation Homes Q3 revenue beats estimates on rental rate growth

Invitation Homes

28/10/2026 20:25

Overview
U.S. single-family rental firm's Q3 revenue rose 6.3% yr/yr, beating analyst expectations
Core FFO per share grew 2.4% yr/yr to $0.48
Company repurchased nearly $1 bln in shares and authorized additional $500 mln buyback

Outlook
Invitation Homes raises FY 2026 Core FFO per share midpoint to $1.96 from $1.95
Company lifts FY 2026 Same Store NOI growth guidance midpoint to 1.2% from 1.15%
Invitation Homes increases FY 2026 wholly owned home sales guidance midpoint to $950 mln

Result Drivers
RENTAL RATE GROWTH - Co said Same Store Core Revenues growth was driven by a 1.8% increase in Average Monthly Rent and a 2.6% rise in other property income, partially offset by lower occupancy and higher bad debt
OPERATING EXPENSES - Co said Same Store Core Operating Expenses increased 2.5% yr/yr, mainly due to a 4.9% rise in controllable expenses and a 1.1% increase in fixed expenses
SHARE REPURCHASES - Core FFO per share growth was attributed in part to a lower share count from stock repurchases, per co

Company press release: ID:nBw4fFhNZa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
$731 mln
$707.58 mln (14 Analysts)
Q3 EPS
 
$0.27
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", 12 "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 $33.00, about 21.4% above its October 27 closing price of $27.19
The stock recently traded at 34 times the next 12-month earnings vs. a P/E of 41 three months ago

Reuters Recommended Reads
Oct 27 - Extra Space Storage Q3 core FFO rises; lifts 2026 outlook on stronger same-store performance
Oct 26 - Sun Communities Q3 core FFO per share rises driven by manufactured houses strength
Oct 27 - American Assets Trust Q3 FFO rises on higher rental rates; lifts outlook

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.)