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CORRECTING and REPLACING Invitation Homes Reports Second Quarter 2020 Results

DALLAS–(BUSINESS WIRE)–The figures in the Q2 2019 column of the FFO Reconciliation in the Reconciliation of FFO, Core FFO, and AFFO table in the Glossary and Reconciliations section of the press release have been updated to correct for typographical errors. Other than the correction of these errors, no other changes have been made to the original press release.  

The corrected release reads:

INVITATION HOMES REPORTS SECOND QUARTER 2020 RESULTS

Invitation Homes Inc. (NYSE: INVH) (“Invitation Homes” or the “Company”), the nation’s premier single-family home leasing company, today announced its second quarter 2020 financial and operating results.

Second Quarter 2020 Highlights

  • Year over year, total revenues increased 1.9% to $450 million, total property operating and maintenance expenses increased 0.3% to $167 million, net income attributable to common stockholders increased 10.2% to $43 million, and net income per diluted common share increased 5.4% to $0.08.
  • Year over year, Core FFO per share increased 4.4% to $0.32, and AFFO per share increased 9.4% to $0.27.
  • Same Store NOI grew 2.3% year over year on 2.0% Same Store Core revenue growth and 1.3% Same Store Core operating expense growth.
  • Same Store average occupancy was 97.5%, up 100 basis points year over year.
  • Same Store renewal rent growth of 3.5% and Same Store new lease rent growth of 2.7% drove Same Store blended rent growth of 3.3%.
  • The Company resumed sourcing acquisitions in June after pausing activity from mid-March through May.
  • The Company issued and sold 16,690,400 shares of common stock during the quarter for net proceeds of $448 million. $150 million of the proceeds were used to fully repay the balance outstanding on the Company’s revolving line of credit, and remaining proceeds are expected to be used primarily for acquisitions.

COVID-19 Update

With the safety and wellbeing of residents and associates its highest priority, the Company continues to follow protocols that enable teams to safely continue providing outstanding service to residents. Updates related to safety and service include:

  • The Company created and implemented a safety training program for all associates, and is maintaining a three-month supply of masks, gloves, shoe covers, and hand sanitizer for field teams.
  • Self-show and virtual-tour technology continue to be leveraged as both safety measures and competitive advantages.
  • Following strict safety protocols, the Company resumed providing non-emergency maintenance service to residents as appropriate on a case-by-case basis beginning in June. “ProCare” proactive resident care visits remain on pause.
  • The Company has adapted to offer virtual options for resident move-in orientations and pre-move-out visits.

Key updates to financial performance, operating results, and liquidity amid the pandemic include:

  • Resident satisfactions survey scores continue to climb as the Company further refines its COVID-19 response.
  • Same Store average occupancy has continued to climb through the summer, reaching a record-high 97.8% in July, up 170 basis points year over year. Same Store new lease rent growth accelerated over the course of Q2 2020 and averaged 4.9% in July.
  • As of June 30, 2020, total liquidity from unrestricted cash and undrawn credit facility capacity was $1,572 million.
  • Revenue collections strengthened over the course of Q2 2020, as detailed in the following table.

Revenue Collections Update

 

 

 

 

 

 

 

 

 

 

 

 

 

 

April

2020

 

May

2020

 

June

2020

 

July

2020

 

Cumulative

 

Revenue collections % of month’s billings: (1)

 

 

 

 

 

 

 

 

 

 

 

July billings collected

 

%

 

%

 

%

 

92

%

 

92

%

 

June billings collected

 

%

 

%

 

92

%

 

4

%

 

96

%

 

May billings collected

 

%

 

92

%

 

4

%

 

1

%

 

97

%

 

April billings collected

 

92

%

 

4

%

 

1

%

 

*

 

98

%

 

March billings collected

 

2

%

 

%

 

%

 

%

 

 

 

Total collected

 

94

%

 

96

%

 

97

%

 

97

%

 

 

 

Total collected % of historical avg collected (2)

 

95

%

 

97

%

 

98

%

 

98

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)

Includes both rental revenues and other property income. Rent is considered to be due based on the terms of the original lease, not based on a payment plan if one is in place. Security deposits retained to offset rents due are not included as revenue collected. See “Same Store Operating Results Snapshot,” footnote (1), for detail on the Company’s bad debt policy.

(2)

Over the historical period from October 2019 to March 2020, monthly revenue collections have totaled 99% of monthly billings on average, with 96% on average attributable to collection of current month billings and 3% on average attributable to collection of prior month billings.

*

Denotes collection of billings between 0% and 0.5%.

As a result of the favorable liquidity and performance trends described above, management deemed it appropriate to resume deploying capital strategically to generate incremental value for shareholders, and took the following actions during the quarter:

  • Successfully issued and sold $448 million of common shares to provide capital primarily for acquisition opportunities.
  • Fully repaid the $270 million revolving credit facility balance that had been drawn in March.
  • Resumed sourcing new acquisitions in June, returning to an acquisition pace similar to pre-COVID-19 levels.

President & Chief Executive Officer Dallas Tanner comments:The resilience of our business and the agility of our team and platform continue to serve us well as the COVID-19 pandemic evolves. I could not be prouder of the genuine care our associates in each market continue to provide, which has been reflected in rising resident satisfaction scores. Simply put, the pandemic has not slowed us down in living up to our mission statement, ‘Together with you, we make a house a home.’

Demand for our homes is as strong as it has ever been, with summer occupancy at record highs. We have successfully adapted to meet this demand and deliver exceptional service in a way that continues to prioritize health and safety above all else. We have also continued to achieve strong rent collection from our mature, stable resident base, with collections in June and July near historical average levels. This combination of strong demand and outstanding execution helped drive a year-over-year increase in AFFO per share of over 9% in the second quarter.

This result would not have been possible without the differentiated locations of our homes, the scale of our portfolio in each market, and our local approach to asset management and resident service that enhances control over the resident experience. We believe these differentiators also position us optimally to capitalize on long-term growth fundamentals. We see a significant pipeline of demand in the millennial generation moving toward single-family rental over the next decade, and the ripple-effects of COVID-19 may further intensify preferences for single-family space over denser housing options. On top of organic growth, we see a compelling opportunity for long-term external growth, and we resumed placing acquisitions under contract in June.

As disciplined investors and operators, we will continue to grow toward a bright future at the same time we stay nimble in the present to safely provide high-quality homes and genuine care to our residents and communities in this time of need.”

Financial Results

Net Income, FFO, Core FFO, and AFFO Per Share — Diluted

 

 

 

 

 

 

 

 

 

 

 

 

Q2 2020

 

Q2 2019

 

YTD 2020

 

YTD 2019

 

Net income (1)

 

$

0.08

 

 

$

0.07

 

 

$

0.17

 

 

$

0.11

 

 

FFO (1)

 

0.30

 

 

0.28

 

 

0.62

 

 

0.54

 

 

Core FFO (2)

 

0.32

 

 

0.31

 

 

0.66

 

 

0.64

 

 

AFFO (2)

 

0.27

 

 

0.25

 

 

0.57

 

 

0.53

 

 

 

 

 

 

 

 

 

 

 

 

(1)

In accordance with GAAP and Nareit guidelines, net income per share and FFO per share are calculated as if the 3.0% Convertible Notes due July 1, 2019 (the “2019 Convertible Notes”) were converted to common shares at the beginning of each relevant period in 2019, and as if the 3.5% Convertible Notes due January 15, 2022 (the “2022 Convertible Notes”) were converted to common shares at the beginning of each relevant period in 2019 and 2020, unless such treatment is anti-dilutive to net income per share or FFO per share. See “Reconciliation of FFO, Core FFO, and AFFO,” footnote (1), for more detail on the treatment of convertible notes in each specific period presented in the table.

(2)

Core FFO and AFFO per share reflect the 2019 Convertible Notes and 2022 Convertible Notes in the form in which they were outstanding during each period. See “Reconciliation of FFO, Core FFO, and AFFO,” footnote (2), for more detail on the treatment of convertible notes in each specific period presented in the table.

Net Income

Net income per share in the second quarter of 2020 was $0.08, compared to net income per share of $0.07 in the second quarter of 2019. Total revenues and total property operating and maintenance expenses in the second quarter of 2020 were $450 million and $167 million, respectively, compared to $442 million and $167 million, respectively, in the second quarter of 2019.

Net income per share in YTD 2020 was $0.17, compared to net income per share of $0.11 in YTD 2019. Total revenues and total property operating and maintenance expenses in YTD 2020 were $900 million and $334 million, respectively, compared to $877 million and $327 million, respectively, in YTD 2019.

Core FFO

Year over year, Core FFO per share in the second quarter of 2020 increased 4.4% to $0.32, primarily due to growth in Same Store NOI.

Year over year, Core FFO per share in YTD 2020 increased 4.5% to $0.66, primarily due to growth in Same Store NOI.

AFFO

Year over year, AFFO per share in the second quarter of 2020 increased 9.4% to $0.27, primarily due to the increase in Core FFO per share described above and lower recurring capital expenditures.

Year over year, AFFO per share in YTD 2020 increased 7.2% to $0.57, primarily due to the increase in Core FFO per share described above and lower recurring capital expenditures.

Operating Results

Same Store Operating Results Snapshot

 

 

 

 

 

 

 

 

 

 

Number of homes in Same Store portfolio:

 

72,261

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q2 2020

 

Q2 2019

 

YTD 2020

 

YTD 2019

 

Core revenue growth (year-over-year)

 

2.0

%

 

 

 

3.2

%

 

 

 

Core operating expense growth (year-over-year)

 

1.3

%

 

 

 

3.3

%

 

 

 

NOI growth (year-over-year)

 

2.3

%

 

 

 

3.2

%

 

 

 

 

 

 

 

 

 

 

 

 

 

Average occupancy

 

97.5

%

 

96.5

%

 

97.1

%

 

96.5

%

 

Bad debt % of gross rental revenues (1)

 

1.9

%

 

0.4

%

 

1.1

%

 

0.4

%

 

Turnover rate

 

6.9

%

 

8.2

%

 

13.2

%

 

14.5

%

 

 

 

 

 

 

 

 

 

 

 

Rental rate growth (lease-over-lease):

 

 

 

 

 

 

 

 

 

Renewals

 

3.5

%

 

5.3

%

 

3.9

%

 

5.3

%

 

New leases

 

2.7

%

 

5.2

%

 

2.3

%

 

4.6

%

 

Blended

 

3.3

%

 

5.3

%

 

3.4

%

 

5.1

%

 

 

 

 

 

 

 

 

 

 

 

(1)

Invitation Homes reserves residents’ accounts receivables balances that are aged greater than 30 days as bad debt, under the rationale that a resident’s security deposit should cover approximately the first 30 days of receivables. For all resident receivables balances aged greater than 30 days, the amount reserved as bad debt is 100% of outstanding receivables from the resident, less the amount of the resident’s security deposit on hand. For the purpose of determining age of receivables, charges are considered to be due based on the terms of the original lease, not based on a payment plan if one is in place. All rental revenues and other property income, in both total portfolio and Same Store portfolio presentations, are reflected net of bad debt.

Same Store NOI

For the Same Store portfolio of 72,261 homes, second quarter 2020 Same Store NOI increased 2.3% year over year on Same Store Core revenue growth of 2.0% and Same Store Core operating expense growth of 1.3%.

YTD 2020 Same Store NOI increased 3.2% year over year on Same Store Core revenue growth of 3.2% and Same Store Core operating expense growth of 3.3%.

Same Store Core Revenues

Second quarter 2020 Same Store Core revenue growth of 2.0% year over year was driven by a 3.7% increase in average monthly rent and a 100 basis point increase in average occupancy to 97.5%. As a result of the increases in average monthly rent and average occupancy, Same Store rental revenues increased 4.7% year over year on a gross basis before bad debt. With respect to Same Store Core revenue growth, two factors related to COVID-19 partially offset the favorable increases in average rent and average occupancy: 1) an increase in bad debt from 0.4% of gross rental revenues in Q2 2019 to 1.9% of gross rental revenues in Q2 2020, which was a 155 basis point drag on Same Store Core revenue growth, all else equal; and 2) a 31.6% decrease in other property income, net of resident recoveries, which was a 107 basis point drag on Same Store Core revenue growth, all else equal, due primarily to non-enforcement of almost all late fees in the quarter.

YTD 2020 Same Store Core revenue growth of 3.2% year over year was driven by a 3.8% increase in average monthly rent and a 60 basis point increase in average occupancy to 97.1%, partially offset by the impact of COVID-19 on bad debt and other property income described above.

Same Store Core Operating Expenses

Second quarter 2020 Same Store Core operating expenses increased 1.3% year over year. Same Store controllable expenses, net of resident recoveries, decreased 4.2% year over year. Offsetting the improvement in controllable expenses was a 4.8% increase in fixed expenses, net of resident recoveries, driven primarily by higher property taxes.

YTD 2020 Same Store Core operating expenses increased 3.3% year over year, primarily due to higher property taxes.

Investment Management Activity

Invitation Homes resumed sourcing new acquisitions in June, after pausing activity from mid-March through May. Leveraging the advantages of its in-house local investment teams in conjunction with proprietary “AcquisitionIQ” technology, the Company has been successful in sourcing compelling investment opportunities despite tight inventory levels, and has been able to quickly ramp buying up to a pace similar to that at which it had been buying prior to the COVID-19 pandemic.

In the second quarter of 2020, Invitation Homes acquired 147 homes for $46 million, including estimated renovation costs, primarily in transactions that were placed under contract prior to the start of the second quarter. The Company has continued to sell homes in accordance with its 2020 disposition plan, and closed the sale of 416 homes for gross proceeds of $114 million in the second quarter of 2020.

Year to date, through June 30, 2020, the Company closed on the acquisition of 651 homes for $200 million, including estimated renovation costs, and sold 900 homes for gross proceeds of $246 million, resulting in a total portfolio home count of 79,256 homes as of June 30, 2020.

Balance Sheet and Capital Markets Activity

As of June 30, 2020, the Company had $1,572 million in available liquidity through a combination of unrestricted cash and undrawn capacity on its revolving credit facility, and maintained considerable cushion with respect to the facility’s covenants. The Company’s total indebtedness as of June 30, 2020 was $8,386 million, consisting of $6,541 million of secured debt and $1,845 million of unsecured debt.

The Company has no debt reaching final maturity before 2022, and weighted average years to maturity was 4.5 years as of June 30, 2020. 51% of the Company’s homes were unencumbered at June 30, 2020, and net debt / TTM Adjusted EBITDAre at June 30, 2020 was 7.4x, down from 8.1x at December 31, 2019.

In the second quarter of 2020, the Company issued and sold 16,690,400 shares of common stock for net proceeds of $448 million. Of the shares issued during the quarter, 16,675,000 were sold through a public offering in June, and 15,400 were sold under the Company’s at-the-market equity agreement (“ATM Equity Program”). $686 million of gross capacity remained under the ATM Equity Program as of June 30, 2020. A portion of the proceeds from equity issuance were used to fully repay the balance outstanding on the Company’s revolving line of credit, as described below, and remaining proceeds are expected to be used primarily for acquisitions.

As previously announced, in May 2020, the Company used cash on hand to repay $120 million of the $270 million revolving credit facility balance that had previously been outstanding. In June 2020, the Company used proceeds from its June equity issuance to repay the remaining $150 million balance, effectively eliminating all borrowings under the revolving credit facility.

Dividend

As previously announced on July 24, 2020, the Company’s Board of Directors declared a quarterly cash dividend of $0.15 per share of common stock. The dividend will be paid on or before August 28, 2020 to stockholders of record as of the close of business on August 12, 2020.

Earnings Conference Call Information

Invitation Homes has scheduled a conference call at 11:00 a.m. Eastern Time on August 4, 2020 to discuss results for the second quarter of 2020. The domestic dial-in number is 1-888-317-6003, and the international dial-in number is 1-412-317-6061. The passcode is 2766358. An audio webcast may be accessed at www.invh.com. A replay of the call will be available through September 4, 2020 and can be accessed by calling 1-877-344-7529 (domestic) or 1-412-317-0088 (international) and using the replay passcode 10146067, or by using the link at www.invh.com.

Supplemental Information

The full text of the Earnings Release and Supplemental Information referenced in this release are available on Invitation Homes’ Investor Relations website at www.invh.com.

Glossary & Reconciliations of Non-GAAP Financial and Other Operating Measures

Financial and operating measures found in the Earnings Release and Supplemental Information include certain measures used by Invitation Homes management that are measures not defined under accounting principles generally accepted in the United States (“GAAP”). These measures are defined in the Glossary and Reconciliations section of this press release and in the Supplemental Information and, as applicable, reconciled to the most comparable GAAP measures.

About Invitation Homes

Invitation Homes is the nation’s premier single-family home leasing company, meeting changing lifestyle demands by providing access to high-quality, updated homes with valued features such as close proximity to jobs and access to good schools. The company’s mission, “Together with you, we make a house a home,” reflects its commitment to providing homes where individuals and families can thrive and high-touch service that continuously enhances residents’ living experiences.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), which include, but are not limited to, statements related to the Company’s expectations regarding the performance of the Company’s business, its financial results, its liquidity and capital resources, and other non-historical statements. In some cases, you can identify these forward-looking statements by the use of words such as “outlook,” “guidance,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “could,” “seeks,” “projects,” “predicts,” “intends,” “plans,” “estimates,” “anticipates,” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties, including, among others, risks inherent to the single-family rental industry and the Company’s business model, macroeconomic factors beyond the Company’s control, competition in identifying and acquiring properties, competition in the leasing market for quality residents, increasing property taxes, homeowners’ association (“HOA”) and insurance costs, the Company’s dependence on third parties for key services, risks related to the evaluation of properties, poor resident selection and defaults and non-renewals by the Company’s residents, performance of the Company’s information technology systems, risks related to the Company’s indebtedness, and risks related to the potential negative impact of the ongoing COVID-19 pandemic, on the Company’s financial condition, results of operations, cash flows, business, associates, and residents. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. Moreover, many of these factors have been heightened as a result of the ongoing and numerous adverse impacts of COVID-19. The Company believes these factors include, but are not limited to, those described under Part I. Item 1A. “Risk Factors” of the Annual Report on Form 10-K for the fiscal year ended December 31, 2019 and in the Company’s Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2020, filed with the Securities and Exchange Commission (the “SEC”), as such factors may be updated from time to time in the Company’s periodic filings with the SEC, which are accessible on the SEC’s website at http://www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release and in the Company’s other periodic filings. The forward-looking statements speak only as of the date of this press release, and the Company expressly disclaims any obligation or undertaking to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except to the extent otherwise required by law.

 

Consolidated Balance Sheets

($ in thousands, except shares and per share data)

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30,

 

December 31,

 

 

 

2020

 

2019

 

 

 

(unaudited)

 

 

 

Assets:

 

 

 

 

 

Investments in single-family residential properties, net

 

$

16,117,737

 

 

$

16,243,192

 

 

Cash and cash equivalents

 

571,719

 

 

92,258

 

 

Restricted cash

 

223,894

 

 

193,987

 

 

Goodwill

 

258,207

 

 

258,207

 

 

Other assets, net

 

574,759

 

 

605,266

 

 

Total assets

 

$

17,746,316

 

 

$

17,392,910

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

Mortgage loans, net

 

$

6,118,575

 

 

$

6,238,461

 

 

Secured term loan, net

 

400,986

 

 

400,978

 

 

Term loan facility, net

 

1,495,191

 

 

1,493,747

 

 

Revolving facility

 

 

 

 

 

Convertible senior notes, net

 

336,820

 

 

334,299

 

 

Accounts payable and accrued expenses

 

190,344

 

 

186,110

 

 

Resident security deposits

 

154,200

 

 

147,787

 

 

Other liabilities

 

706,327

 

 

325,450

 

 

Total liabilities

 

9,402,443

 

 

9,126,832

 

 

 

 

 

 

 

 

Equity:

 

 

 

 

 

Stockholders’ equity

 

 

 

 

 

Preferred stock, $0.01 par value per share, 900,000,000 shares authorized, none outstanding as of June 30, 2020 and December 31, 2019

 

 

 

 

 

Common stock, $0.01 par value per share, 9,000,000,000 shares authorized, 560,532,679 and 541,642,725 outstanding as of June 30, 2020 and December 31, 2019, respectively

 

5,605

 

 

5,416

 

 

Additional paid-in capital

 

9,515,625

 

 

9,010,194

 

 

Accumulated deficit

 

(595,318

)

 

(524,588

)

 

Accumulated other comprehensive loss

 

(632,148

)

 

(276,600

)

 

Total stockholders’ equity

 

8,293,764

 

 

8,214,422

 

 

Non-controlling interests

 

50,109

 

 

51,656

 

 

Total equity

 

8,343,873

 

 

8,266,078

 

 

Total liabilities and equity

 

$

17,746,316

 

 

$

17,392,910

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated Statements of Operations

 

($ in thousands, except shares and per share amounts) (unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

Q2 2020

 

Q2 2019

 

YTD 2020

 

YTD 2019

 

 

 

 

 

 

 

 

 

 

 

Revenues:

 

 

 

 

 

 

 

 

 

Rental revenues

 

$

419,201

 

 

$

408,755

 

 

$

833,667

 

 

$

814,270

 

 

Other property income

 

30,554

 

 

32,827

 

 

65,877

 

 

62,812

 

 

Rental revenues and other property income

 

449,755

 

 

$

441,582

 

 

899,544

 

 

877,082

 

 

 

 

 

 

 

 

 

 

 

 

Expenses:

 

 

 

 

 

 

 

 

 

Property operating and maintenance

 

167,002

 

 

166,574

 

 

333,918

 

 

326,920

 

 

Property management expense

 

14,529

 

 

16,021

 

 

28,901

 

 

31,181

 

 

General and administrative

 

14,426

 

 

15,956

 

 

28,654

 

 

42,494

 

 

Interest expense

 

86,071

 

 

95,706

 

 

170,828

 

 

189,689

 

 

Depreciation and amortization

 

137,266

 

 

133,031

 

 

272,293

 

 

266,640

 

 

Impairment and other

 

(180

)

 

1,671

 

 

2,947

 

 

7,063

 

 

Total expenses

 

419,114

 

 

428,959

 

 

837,541

 

 

863,987

 

 

 

 

 

 

 

 

 

 

 

 

Other, net

 

1,370

 

 

610

 

 

5,084

 

 

3,735

 

 

Gain on sale of property, net of tax

 

11,167

 

 

26,172

 

 

26,367

 

 

43,744

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

43,178

 

 

39,405

 

 

93,454

 

 

60,574

 

 

Net income attributable to non-controlling interests

 

(275

)

 

(463

)

 

(595

)

 

(810

)

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to common stockholders

 

42,903

 

 

38,942

 

 

92,859

 

 

59,764

 

 

Net income available to participating securities

 

(119

)

 

(109

)

 

(221

)

 

(215

)

 

 

 

 

 

 

 

 

 

 

 

Net income available to common stockholders — basic and diluted

 

$

42,784

 

 

$

38,833

 

 

$

92,638

 

 

$

59,549

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding — basic

 

548,811,968

 

 

525,070,036

 

 

545,680,740

 

 

523,265,455

 

 

Weighted average common shares outstanding — diluted

 

549,920,213

 

 

525,933,643

 

 

546,836,809

 

 

524,190,469

 

 

 

 

 

 

 

 

 

 

 

 

Net income per common share — basic

 

$

0.08

 

 

$

0.07

 

 

$

0.17

 

 

$

0.11

 

 

Net income per common share — diluted

 

$

0.08

 

 

$

0.07

 

 

$

0.17

 

 

$

0.11

 

 

 

 

 

 

 

 

 

 

 

 

Dividends declared per common share

 

$

0.15

 

 

$

0.13

 

 

$

0.30

 

 

$

0.26

 

 

 

 

 

 

 

 

 

 

 

 

Contacts

Investor Relations Contact
Greg Van Winkle

Phone: 844.456.INVH (4684)

Email: IR@InvitationHomes.com

Media Relations Contact
Kristi DesJarlais

Phone: 972.421.3587

Email: Media@InvitationHomes.com

Read full story here
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Original Release: Business Wire

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