Invitation Homes Inc. · NYSE:INVH
Invitation Homes — Q3 2024 Earnings Presentation
20 slides from Invitation Homes's earnings presentation, Oct 31, 2024
Slide 1: Investor Presentation
November 2024 Investor Presentation Together with you, we make a house a home.
Slide 2: Key Takeaways And Updates
Key Takeaways And Updates We are the nation’s premier single-family home leasing and management company Our October 2024 Same Store results: • Renewal lease rate growth of +3.7% > +4% • New lease rate growth of (1.3)% Growth YoY • Blended lease rate growth of +2.2% November 2024 Renewals (1) • Ave
Slide 3: I. Strategic Approach To Growth
Carolinas I. Strategic Tampa Approach To Growth
Slide 4: Differentiated Portfolio And Platform
Differentiated Portfolio And Platform We are strategically positioned around three pillars that enhance growth and the resident experience Track Record of Sector-Leading Growth and High-Quality Resident Experience (1) Location Scale Eyes in Markets • 96% of wholly owned portfolio in • Average of >5,
Slide 5: Multi-Channel Approach To Acquisitions
Multi-Channel Approach To Acquisitions Our multi-channel approach puts eyes on more opportunities and maximizes selectivity We believe our multi-channel acquisition approach enables significant external growth in desirable locations during various real estate cycles Channel agnostic, location specif
Slide 6: Our Partnership Approach To Build-To-Rent (BTR)
Our Partnership Approach To Build-To-Rent (BTR) We partner with the nation’s best homebuilders rather than competing directly against them Our homebuilder partnership approach to BTR offers what we Orlando believe are meaningful investment yields of ~6% with few of the risks of on-balance sheet deve
Slide 7: Our Third-Party Management Business
Our Third-Party Management Business Capital-light opportunity to meaningfully grow AFFO/share with owners of large SFR portfolios Key benefits for Invitation Homes: Drive meaningful AFFO/sh growth and margin expansion with value-add platform & minimal capital investment High margin revenue strea
Slide 8: Track Record Of Consistency And Sector-Leading Growth
Track Record Of Consistency And Sector-Leading Growth Differentiated locations, scale, and local expertise have driven organic growth outperformance Cumulative Same Store NOI Growth (2017-2023) (1) Invitation Homes +53.6% $102M AMH +42.4% incremental IH SS-NOI National +36.2% $159M incremental IH SS
Slide 9: II. Location & Scale
Phoenix Tampa II. Location & Scale
Slide 10: Location: High-Growth Markets
Location: High-Growth Markets We focus on high-growth markets and infill neighborhoods with proximity to jobs, transportation, and schools 96.0% Seattle 6% of revenue from Western U.S., Sunbelt, and Florida Minne- apolis 1% 6.3% Northern California Chicago 6% avg annual SS-NOI growth Denver 3% from
Slide 11: Scale: Phoenix Case Study
Scale: Phoenix Case Study Our industry-leading scale enables us to operate efficiently with significant local presence in markets Phoenix PHX 3 4,231 Homes Home Count (1) Wholly-owned 9,258 JV-owned 786 3rd-party managed 2,879 PHX 2 4,343Homes Total 12,923 Phoenix Team Count (1) 1 Vice President of
Slide 12: III. Eyes In Markets
Denver Tampa III. Eyes In Markets
Slide 13: Best-In-Class, Local Approach To Operations And Investing
Best-In-Class, Local Approach To Operations And Investing Local, high-touch service with eyes in markets enhances control over asset quality and the resident experience Centralized strategy, tools, and oversight for a total of 110,756 homes(1) WHOLLY- JV- 3RD PARTY ~1,000 20 Field OWNED OWNED MANAGE
Slide 14: Proactive Resident Service And Asset Management
Proactive Resident Service And Asset Management ProCare proactive maintenance program designed to optimize each touch point with our residents and homes ProCare is our differentiated approach to service that leverages proactive engagement with residents and homes to maximize resident satisfaction
Slide 15: Growing Our Value-Add Services
Growing Our Value-Add Services We remain on track with our multi-year plan to grow value-add services to enhance the resident experience Bundled Internet: Value-Add We have rolled out a bundled internet and digital media package to many Revenues ($M) (1) of our residents across the country, with
Slide 16: Our Commitment To Corporate Stewardship
Our Commitment To Corporate Stewardship Read our Sustainability Report online at www.InvitationHomes.com/Sustainability Resident education on energy efficiency ENERGY STAR® certified appliances and durable, energy-efficient materials (1) ENVIRONMENTAL Smart Home technology and HVAC filter deli
Slide 17: IV. Industry Fundamentals
Southern California IV. Industry Fundamentals
Slide 18: Meeting An Underserved Need In The Housing Market
Meeting An Underserved Need In The Housing Market We provide a unique experience, but today serve < 1% of the growing demand for single-family rentals 133 Million U.S. Housing Summary (1) Current U.S. Population by Age Cohort (2) (millions of people) Households Potential Owned: 66% Future (88M units
Slide 19: Single-Family Supply Continues To Be Constrained
Single-Family Supply Continues To Be Constrained The United States remains undersupplied by as many as 2 to 4 million homes according to some estimates Despite recent temporary supply pressures, we believe a decade-long shortfall in single-family construction is likely to persist for the foreseeab
Slide 20: 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