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Get filing alertsInvitation Homes reports accelerating rental growth, discloses ResiBuilt acquisition
Filed June 1, 2026 · Period ending June 1, 2026 · ~1 min read
Key Changes
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April-May 2026 same-store blended rental rate growth accelerated to 2.5% from 1.6% in Q1, driven by new lease rates turning positive at 0.8% versus negative 3.0% in Q1; occupancy reached 97.2%.
Exhibit 99.1 view on EDGAR → -
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Acquired ResiBuilt, a build-to-rent developer with ~1,500 homes under construction across Florida, Georgia, and the Carolinas, plus 1,500 lot options; expected to contribute $0.02 per share to 2026 AFFO.
Exhibit 99.1 view on EDGAR → -
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Third-party management platform manages ~24,000 homes, generated $87M in FY 2025 revenue, and delivers ~300 bps margin expansion for owners; provides ~$0.01 accretion per 3,000 homes added.
Exhibit 99.1 view on EDGAR → -
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Balance sheet shows 5.6x net debt/EBITDA, $1.3B liquidity, no debt maturities before June 2027, ~90% of real estate unencumbered, and ~90% of debt fixed or swapped to fixed rate.
Exhibit 99.1 view on EDGAR → -
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At $29 per share, implied per-home valuation of $294K represents a 31% discount to Q1 2026 average sales price of $427K per home.
Exhibit 99.1 view on EDGAR →
Summary
Invitation Homes furnished an investor presentation under Regulation FD showing meaningful operational momentum in its single-family rental portfolio. The most significant development is the sharp acceleration in rental rate growth through April-May 2026, with blended same-store growth reaching 2.5% versus 1.6% in the first quarter.
The improvement stems from new lease rates turning positive for the first time after several quarters of negative pricing pressure, while occupancy climbed to 97.2%. This suggests the company is successfully navigating a tightening rental market.
The presentation also disclosed the ResiBuilt acquisition, a build-to-rent developer with approximately 1,500 homes under construction and 1,500 lot options for future development. Management expects the platform to contribute $0.02 per share to 2026 adjusted funds from operations, providing a new growth channel beyond traditional home acquisitions. The third-party management business, which manages 24,000 homes and generated $87 million in fiscal 2025 revenue, offers additional scale benefits and a pipeline of potential acquisition targets. The balance sheet remains conservatively positioned with 5.6 times leverage, $1.3 billion in liquidity, and no near-term debt maturities, supporting continued growth investments.
Section-by-Section Diff
Event · Item 7.01 — Regulation FD Disclosure
Invitation Homes furnished an investor presentation for upcoming June 2026 meetings under Regulation FD.
Show 1 minor / wording change
Added in current filing · verify on EDGAR →
Invitation Homes Inc. (the “Company”) is furnishing with this report a presentation to be used in upcoming investor meetings in June 2026.
The company furnished an investor presentation under Regulation FD for use in upcoming June 2026 investor meetings. The presentation is attached as Exhibit 99.1. This is a routine disclosure mechanism companies use to ensure material information shared with select investors is simultaneously made public.
Event · Exhibit 99.1
Invitation Homes filed an investor presentation highlighting operational metrics, acquisition strategy, and balance sheet position.
Added in current filing · view on EDGAR →
Same Store Coastal MF 1Q 2026 National MF 1Q 2026 INVH 1Q 2026 INVH April-May 2026 Average Occupancy 96.4% 95.7% 96.3% 97.2% Renewals Rental Rate Growth 3.8% 4.5% 3.7% 3.2% New Leases Rental Rate Growth -2.6% -4.9% -3.0% 0.8% Blended Rental Rate Growth 1.1% —% 1.6% 2.5%
Invitation Homes disclosed April-May 2026 same-store leasing statistics showing average occupancy of 97.2% and blended rental rate growth of 2.5%, representing acceleration of nearly 100 basis points from first quarter 2026. New lease rental rate growth turned positive at 0.8% compared to negative 3.0% in the first quarter, while renewal rate growth moderated to 3.2% from 3.7%.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 10, 2026 · How we verify