Invitation Homes reports Q2 core FFO 48c, consensus 48c

Reports Q2 revenue $681.4M and Same Store NOI increased 2.5% year over year. The company said, “Our second quarter performance underscores the continued strength and resilience of our platform. We continue to benefit from robust resident demand, elevated renewal rates, and disciplined cost control – all of which reinforce our long-term growth strategy. In the first half of the year, net income per common share – diluted increased 42.4% year over year, and we delivered 3.2% Same Store NOI growth and a 3.7% increase in AFFO per share, alongside Same Store average occupancy of 97.3% and blended Same Store leasing spreads of 3.8%. I’m proud of our team’s strong execution, the momentum we’re carrying into the second half of the year, and the value we’re creating for both our residents and our shareholders.”