Latest revenue
$43.7M
as of 2026-03-31
Latest net income
$160.5M
as of 2026-03-31
Net margin
366.9%
as of 2026-03-31
Price · 5Y
Live market
delayed ≤15 min- Market cap
- $17.42B
- Enterprise value
- $22.27B
- P/E (trailing)
- 29.6×
- Forward P/E
- —
- P/B
- 1.92×
- Dividend yield
- 4.0%
- 52-wk high
- $34.25
- 52-wk low
- $24.25
- Beta
- —
- Shares out
- 594.9M
5-year trend
What this company does
Invitation Homes owns and leases roughly 86,000 single-family rental homes across the U.S., operating as a REIT focused on suburban housing. Monthly rents from tenants drive the business, generating $671 million in rental revenues last quarter, supplemented by management fees and a newly added homebuilding arm. The company recently acquired a homebuilding platform, marking a strategic shift toward developing its own rental supply rather than relying solely on market acquisitions.
Generated from INVH's filing dated 2026-02-19
Key risks
- Leverage rising: revolver drawn $560M vs $145M at YE2025; total debt ~$8.8B against $114M cash, with interest expense up 13% YoY.
- Aggressive buybacks shrinking equity: $439M of stock repurchased in Q1 2026 while accumulated deficit grew to $1.63B and dividends ($179M) exceed FCF.
- Strategy drift into homebuilding: $91M platform acquisition plus $8.5M contingent consideration; homebuilding margins thin ($43.7M revenue vs $39.1M cost).
Generated from INVH's filing dated 2026-02-19
Profitability
Net margin
21.5%
24.3%Return on equity
6.2%
32.6%Return on assets
3.1%
29.7%Leverage
Debt / equity
0.96×
4.7%Long-term debt / equity
0.46×
18.5%Debt / assets
49.0%
2.4%Earnings tracker
| Quarter | Revenue | YoY | Net income | YoY | Net margin |
|---|---|---|---|---|---|
Q1 2026 2026-03-31 | $43.7M | — | $160.5M | -3.2% | 366.9% |
Q4 2025 2025-12-31 | $1.36B | +106.3% | $144.6M | +1.0% | 10.6% |
Q3 2025 2025-09-30 | $688.2M | +4.2% | $136.7M | +43.5% | 19.9% |
Q2 2025 2025-06-30 | $681.4M | +4.3% | $140.9M | +92.5% | 20.7% |
Q1 2025 2025-03-31 | $0 | -100.0% | $165.7M | +16.4% | — |
Q4 2024 2024-12-31 | $659.1M | — | $143.1M | — | 21.7% |
Q3 2024 2024-09-30 | $660.3M | +6.9% | $95.3M | -27.7% | 14.4% |
Q2 2024 2024-06-30 | $653.5M | +8.8% | $73.2M | -46.9% | 11.2% |
Year-over-year change vs the same fiscal quarter one year prior. Revenue + net income sourced from SEC 10-Q / 10-K filings — no analyst-consensus dependency.
Industry trend
Real Estate Operators (No Developers) & Lessors · SIC 6510
Your notes
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Insider activity
Insider buying
$0
Insider selling
$5.0M
Net activity
−$5.0M
Distinct insiders
1
Open-market trades over the last 365 days.
Recent transactions
| Date | Insider | Type | Shares | Price | Value | |
|---|---|---|---|---|---|---|
| 2025-06-13 | Dallas B Tanner Chief Executive Officer | Sale | 148,749 | $33.41 | $5.0M |
Source: SEC Form 4 filings. Officers, directors, and 10%+ owners must disclose share transactions within two business days. RSU grants and tax-withholding rows are excluded by default — compensation activity is not a trading signal.
Who owns INVH
Institutional value
$7.52B
Total shares held
308.7M
Distinct holders
375
As of
2026-03-31
Filers with $100M+ AUM disclose holdings 45 days after quarter end.
Top institutional holders
| # | Manager | Shares | Value | QoQ change | Action |
|---|---|---|---|---|---|
| 1 | BlackRock, Inc. | 64.3M | $1.60B | — | New |
| 2 | VANGUARD PORTFOLIO MANAGEMENT LLC | 49.4M | $1.23B | — | New |
| 3 | VANGUARD CAPITAL MANAGEMENT LLC | 37.2M | $923.8M | — | New |
| 4 | APG Asset Management US Inc. | 16.0M | $397.0M | — | New |
| 5 | Invesco Ltd. | 14.6M | $363.6M | — | New |
| 6 | PRINCIPAL FINANCIAL GROUP INC | 13.7M | $340.2M | — | New |
| 7 | DIMENSIONAL FUND ADVISORS LP | 8.4M | $208.2M | — | New |
| 8 | JPMORGAN CHASE & CO | 8.0M | $199.0M | — | New |
| 9 | CENTERSQUARE INVESTMENT MANAGEMENT LLC | 7.4M | $185.1M | — | New |
| 10 | Legal & General Group Plc | 5.7M | $142.7M | — | New |
| 11 | Daiwa Securities Group Inc. | 5.5M | $136.3M | — | New |
| 12 | UBS Group AG | 4.5M | $111.9M | — | New |
| 13 | BNP PARIBAS FINANCIAL MARKETS | 4.0M | $98.3M | — | New |
| 14 | VANGUARD FIDUCIARY TRUST CO | 3.2M | $79.3M | — | New |
| 15 | Bank of New York Mellon Corp | 3.0M | $74.4M | — | New |
| 16 | HSBC HOLDINGS PLC | 2.7M | $66.3M | — | New |
| 17 | DEUTSCHE BANK AG\ | 2.6M | $63.9M | — | New |
| 18 | Russell Investments Group, Ltd. | 2.5M | $62.1M | — | New |
| 19 | Sumitomo Mitsui Trust Group, Inc. | 2.4M | $59.7M | — | New |
| 20 | SEI INVESTMENTS CO | 2.1M | $51.0M | — | New |
Source: SEC Form 13F-HR. Positions aggregated across sub-managers within each firm. Options (puts/calls) excluded — common stock only.
Top questions investors are asking
- 1
You repurchased $439M of stock while drawing $415M on the revolver—why lever up to buy back shares with the stock yielding only 4%?
- 2
Rental revenue grew just 2.7% YoY while property opex rose 5.8%; what's driving the margin compression and when does it reverse?
- 3
Homebuilding generated $43.7M revenue at only 10.5% gross margin—justify the $91M platform acquisition and $8.5M contingent consideration economics.
Refreshed when INVH files a new report · last from 2026-02-19