INVH · 8-K · 20261028PR000053
Guidance and Outlook
Invitation Homes Inc. · 2026-10-28 · Importance 62 · Surprise 68 · In source text
The company raised its FY 2026 Core FFO per diluted share midpoint by $0.01 to $1.96, within a $1.94–$1.98 range. Same Store NOI growth midpoint increased to 1.20% from 1.15%, while the midpoint for Same Store Core Operating Expense growth decreased to 3.2% from 3.5%. The wholly owned dispositions midpoint rose by $100 million to $950 million, and the joint-venture acquisitions midpoint increased by $25 million to $125 million. The wholly owned acquisitions midpoint remained $250 million, and AFFO per diluted share guidance remained at a $1.65 midpoint.
Key facts
- FY 2026 wholly owned dispositions guidance is $900–$1,000 million, with a $950 million midpoint versus the prior $850 million, a $100 million increase. source
- Invitation Homes raised FY 2026 wholly owned home sales guidance to $950 million. source
- FY 2026 Same Store Core Operating Expenses growth guidance is 2.7%–3.7%, with a 3.2% midpoint versus the prior 3.5%, a 0.3-percentage-point decrease. source
- FY 2026 Same Store NOI growth guidance is 0.7%–1.7%, with a 1.20% midpoint versus the prior 1.15%, a 0.05-percentage-point increase. source
- FY 2026 joint venture acquisitions guidance is $100–$150 million, with a $125 million midpoint versus the prior $100 million, a $25 million increase. source
- Invitation Homes raised FY 2026 Same Store NOI growth guidance to 1.2%. source
- FY 2026 wholly owned acquisitions guidance is $200–$300 million, with a $250 million midpoint unchanged from prior guidance. source
- Invitation Homes raised its FY 2026 Core FFO per share guidance midpoint by $0.01 to $1.96. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | positive | committed | — | FY 2026 wholly owned dispositions guidance is $900–$1,000 million, with a $950 million midpoint versus the prior $850 million, a $100… |
| operating_income | positive | committed | — | FY 2026 Same Store Core Operating Expenses growth guidance is 2.7%–3.7%, with a 3.2% midpoint versus the prior 3.5%, a… |
| operating_income | positive | committed | — | FY 2026 Same Store NOI growth guidance is 0.7%–1.7%, with a 1.20% midpoint versus the prior 1.15%, a 0.05-percentage-point increase. |
| cash | negative | committed | — | FY 2026 joint venture acquisitions guidance is $100–$150 million, with a $125 million midpoint versus the prior $100 million, a $25… |
| assets | positive | committed | — | FY 2026 joint venture acquisitions guidance is $100–$150 million, with a $125 million midpoint versus the prior $100 million, a $25… |
| revenue | positive | committed | — | FY 2026 Same Store Core Revenues growth guidance is 1.65%–2.15%, with a 1.9% midpoint unchanged from prior guidance. |
| operating_income | negative | committed | — | FY 2026 Same Store Core Operating Expenses guidance assumes FY 2026 property tax increases of 3%–4%. |