Invitation Homes Inc

Strong Financial Performance: Invitation Homes reported a core FFO per share growth of 6.4% and AFFO per share growth of 6.7% for full-year 2024, demonstrating solid operational execution. The fourth-quarter results included total revenues growing 5.6% to $659 million, with core FFO per share up 5.9% and AFFO per share up 8.9% compared to the previous year.

Same-Store Growth Projections: For 2025, the company anticipates same-store NOI growth in the range of 1% to 3%, projecting blended rent growth in the mid-threes. The renewed focus on strategic growth initiatives and operational efficiency is expected to support these projections. However, occupancy is expected to moderate slightly, aligning around 96.5%.

Operational Efficiency and Resident Loyalty: The company achieved an average length of stay of approximately 38 months with an 80% renewal rate, reflecting strong relationships with residents. Same-store NOI margins improved to over 68%, showcasing effective operational management and cost control measures that decreased core operating expenses by 1.5% in Q4.