Invitation Homes Inc. · NYSE:INVH
Invitation Homes — Investor Presentation (November 2023)
22 slides from Invitation Homes's investor presentation, Nov 13, 2023
Slide 1: Investor Presentation November 2023
Investor Presentation November 2023 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 company, with an emphasis on the resident experience 2 Our best-in-class resident experience focuses on choice, flexibility, and convenience, with a high level of service that is unique among an industry comprised mos
Slide 3: A Business Model For All Seasons
A Business Model For All Seasons We believe our portfolio and proven strategy position us well to weather periods of economic uncertainty 3 The location and quality of our homes attract a higher-end SFR customer; new residents (T12M) have an average annual income of over $142,000 and an income-to-
Slide 4: Our Commitment To ESG
Our Commitment To ESG 4 SOCIAL Top-ranked governance (1) 90% 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 and ESG Employee Resource Groups and training
Slide 5: I. Strategic Approach To Growth
South Florida 5 I. Strategic Approach To Growth
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 • We believe infill locations create insulation from new supply • ~96% of portfolio in Western U.S., Sunbelt, and Florida • In-fill neighborhoods • Hi
Slide 7: Multi-Channel Approach To Acquisitions
Channel agnostic, location specific 7 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 s
Slide 8: Differentiated Approach To Build-To-Rent (BTR)
Differentiated Approach To Build-To-Rent (BTR) We partner with the nation’s best homebuilders rather than competing directly against them 8 Our homebuilder-relationship approach to BTR offers what we believe are comparable investment yields of 6%+ with few of the risks of on-balance sheet BTR deve
Slide 9: Leveraging Our Best-In-Class Property Management Playbook
Key benefits for Invitation Homes: Drive meaningful AFFO/sh growth and margin expansion with value-add platform & minimal capital investment High margin revenue stream in a high-barrier sector where efficient third-party managers are scarce Add value to the core business by increasing scale in
Slide 10: July 2023 Portfolio Acquisition Of Exceptionally Well-Located Homes
July 2023 Portfolio Acquisition Of Exceptionally Well-Located Homes High-growth portfolio that further enhances and leverages our scale and margin expansion opportunities 10 1,870 homes acquired from one seller in 3Q 2023 for approximately $645 million Over 90% of the homes overlap with our exis
Slide 11: Track Record Of Consistency And Sector-Leading Growth
11 Track Record Of Consistency And Sector-Leading Growth 7.4% 5.1% 2.8% 2.9% Invitation Homes AMH National Multifamily Coastal Multifamily 2017 SS-NOI Growth 4.4% 2.8% 2.9% 2.3% Invitation Homes AMH National Multifamily Coastal Multifamily 2018 SS-NOI Growth 5.6% 3.7% 4.2% 3.3% Invitation Homes AMH
Slide 12: II. Location & Scale
Tampa Denver 12 II. Location & Scale
Slide 13: 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 13 ~96% of revenue from Western U.S., Sunbelt, and Florida 6.6% avg annual SS-NOI growth from 2017 to 2022 >34% more home price appreciation than U.S. avg since
Slide 14: Scale: Atlanta Case Study
ATL 1 2,771 Homes ATL 2 2,757 Homes ATL 3 2,421 Homes ATL 4 2,606 Homes ATL 5 2,197 Homes Scale: Atlanta Case Study Our industry-leading scale enables us to operate efficiently with significant local presence in markets 14 Atlanta - 12,752 Homes (1) ________________________________________________ (
Slide 15: III. Eyes In Markets
Tampa Phoenix 15 III. Eyes In Markets
Slide 16: 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 17: 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 18: 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 18 Bundled Internet Introduction: We are rolling out a bundled internet and digital media package to many of our residents across the country Residents recei
Slide 19: IV. Industry Fundamentals
Denver 19 IV. Industry Fundamentals
Slide 20: Meeting An Underserved Need In The Housing Market
3% 17% 80% 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 20 U.S. Single-Family Rental Ownership (4) ________________________________________________
Slide 21: 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 21 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 22: 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 (the “Exchange Act”), which include, but are not limited to, statements related to the Comp
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