Invitation Homes Inc. · NYSE:INVH
Invitation Homes — Investor Presentation (June 2022)
21 slides from Invitation Homes's investor presentation, Jun 6, 2022
Slide 1: Investor Presentation June 2022
Investor Presentation Together with you, we make a house a home. June 2022
Slide 2: I. Executive Summary
Las Vegas 2 I. Executive Summary
Slide 3: Key Takeaways and Updates
3 We remain strategically positioned to pursue growth opportunities and enhance the resident experience Key Takeaways and Updates Our strong Same Store results continued in May: New lease rate growth accelerated to 16.5% (+240 bps YoY) in May, up from 15.5% in April and 14.8% in 1Q22 Renewal r
Slide 4: A Business Model For All Seasons
4 We believe our business and proven strategy position us well against economic uncertainty A Business Model For All Seasons Atlanta The location and quality of our homes attracts a higher-end SFR customer Average annual income of new residents nearly $130,000, with an income to rent ratio of 5.
Slide 5: Our Most Recent Growth Opportunities
5 Our Most Recent Growth Opportunities Pathway Homes Announced February 2022 as a $750M (including debt) platform, backed by Regis Group, Fifth Wall, and INVH Pathway provides unique housing solutions that allow residents to first lease and then buy the home outright at a future date INVH inve
Slide 6: Differentiated Portfolio and Platform
Differentiated Portfolio and Platform We are strategically positioned around three pillars that enhance growth and the resident experience 6 Location • 95% of portfolio in Western U.S., Sunbelt, and Florida • In-fill neighborhoods • High barriers to homeownership • Outsized LT growth drivers • We be
Slide 7: Our Commitment to ESG
Our Commitment to ESG 7 SOCIAL Top-ranked governance(1) 89% of directors independent Quarterly ESG board updates Robust risk management Opted out of MUTA Genuine Care commitment to our residents Associates’ pay linked to resident service & ESG Employee Resource Groups and training fo
Slide 8: Track Record of Consistency and Sector-Leading Growth
34.3% 24.2% 11.8% -3.1% Invitation Homes American Homes 4 Rent National Multifamily Coastal Multifamily Cumulative SS-NOI Growth (2017-2021) Track Record of Consistency and Sector-Leading Growth Differentiated locations, scale, and local expertise have driven consistent outperformance in organic gro
Slide 9: II. Location & Scale
Il. Location & Scale wo , invitation homes
Slide 10: Location: High-Growth Markets
Location: High-Growth Markets We focus on high-growth markets and in-fill neighborhoods with proximity to jobs, transportation, and schools 10 >95% of revenue from Western U.S., Sunbelt, and Florida 6.1% avg annual SS-NOI growth from 2017 to 2021 38% more home price appreciation than U.S. avg since
Slide 11: Multi-Channel Approach to Acquisitions
Channel agnostic, location specific 11 Multi-Channel Approach to Acquisitions Our multi-channel approach puts eyes on more opportunities and maximizes selectivity Broker/MLS Leverage AcquisitionIQ and broker network to maximize deal flow Builder Partnerships Foster relationships to target new-build
Slide 12: Our Homebuilder Relationships Offer Many Advantages
12 Our Homebuilder Relationships Offer Many Advantages Preferred partnership with PulteGroup, but also work with other national, regional and local builders Allows us to partner with, instead of competing against, the best homebuilders Lower initial upfront investment Projected to deliver stabili
Slide 13: Scale: Atlanta Example
Scale: Atlanta Example Our industry-leading scale enables us to operate efficiently with significant local presence in markets 13 NW POD Team 3,484 Homes NE POD Team 3,332 Homes SE POD Team 2,933 Homes SW POD Team 2,936 Homes Atlanta - 12,685 Homes (1) _______________________________________________
Slide 14: III. Eyes in Markets
Orlando 14 III. Eyes in Markets
Slide 15: Best-in-Class, Local Approach to Operations and Investing
Best-in-Class, Local Approach to Operations and Investing Local, high-touch service with eyes in markets enhances control over asset quality and the resident experience Differentiated Approach Superior Results Local resident service, leasing, and investment/asset management, with centralized overs
Slide 16: Proactive Resident Service and Asset Management
Proactive Resident Service and Asset Management ProCare proactive maintenance program designed to optimize each touch point with our residents and homes Initial Showing / Leasing Interaction ProCare Resident Orientation (RO) ProCare 45-Day Maintenance Visit Work Order General Property Condition Asse
Slide 17: Growing Ancillary Services
Growing Ancillary Services We remain on track with our multi-year plan to grow ancillary services to enhance the resident experience 17 Smart Home Update: Base Smart Home package recently expanded to include video doorbell along with smart lock and smart thermostat Upgraded Smart Home packages
Slide 18: IV. Industry Fundamentals
Dallas 18 IV. Industry Fundamentals
Slide 19: Meeting an Underserved Need in the Housing Market
3% 17.0% 80.00% 1000+ units 10 to 999 units 1 to 9 units Meeting an Underserved Need in the Housing Market We provide a unique experience, but today serve only 0.5% of the growing demand for single-family rentals 19 U.S. Single-Family Rental Ownership (3) ____________________________________________
Slide 20: Supply Continues to be Constrained
Supply Continues to be Constrained We believe a decade-long shortfall in single-family construction is likely to persist for the foreseeable future 20 Total Housing Permits (Single and Multifamily) as a % of Households in Invitation Homes’ Markets (1) 0.0% 1.0% 2.0% 3.0% 4.0% 1980 1984 1988 1992 199
Slide 21: Disclaimer
Disclaimer This presentation 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, which include, but are not limited to, statements related to the Company’s expectations re