Invitation Homes Inc. Reports Q3 2026 Financial Results and Authorizes New $500M Share Repurchase Program

Summary of Earnings & Corporate Developments

Invitation Homes Inc. (NYSE: INVH) filed a Current Report on Form 8-K under Item 2.02 (Results of Operations and Financial Condition) and Item 9.01 (Financial Statements and Exhibits), announcing financial and operational results for the quarter ended September 30, 2026.

Key Financial Highlights

• Revenues & Expenses: Total revenues grew 6.3% year-over-year to $731 million. Property operating and maintenance expenses rose 2.0% to $264 million.
• Earnings & FFO Metrics:
  • Net Income Available to Common Stockholders: $158 million, or $0.27 per diluted share (up 15.6% YoY from $0.22 per share in Q3 2025).
  • Core FFO per Diluted Share: $0.48 (up 2.4% YoY from $0.47).
  • AFFO per Diluted Share: $0.38 (up 0.1% YoY from $0.38).
• Same Store Operational Metrics:
  • Same Store NOI rose 1.1% YoY, supported by 1.6% Same Store Core Revenues growth offsetting 2.5% Same Store Core Operating Expenses growth.
  • Average occupancy stood at 96.4% (down 10 bps YoY).
  • Blended rent growth was 3.0%, driven by renewal rent growth of 4.3% against a (0.2)% decline in new lease rent.

Capital Allocation & Guidance Revisions

• Share Repurchases: From December 1, 2025 through October 27, 2026, INVH repurchased 36,923,753 shares at an average price of $26.78 (totaling nearly $1 billion).
• New Buyback Authorization: On October 26, 2026, the Board of Directors approved an additional $500 million share repurchase program.
• Guidance Updates: Full-year 2026 guidance midpoint for Core FFO per share was raised by $0.01 to $1.96, Same Store NOI growth guidance was revised to 1.2%, and wholly owned home sales were guided to $950 million.