Invitation Homes Raises 2025 Guidance After Strong Q3

Invitation Homes reported Q3 2025 revenue of $688.2 million and core FFO of $0.47 per share, and raised full‑year 2025 core FFO guidance to $1.90–$1.94 (midpoint $1.92). The company cited same‑store renewal rent growth of 4.5% and blended rent growth of 3.0% while new‑lease rents were slightly negative; same‑store NOI rose 1.1% and same‑store core expenses increased 4.9%, with occupancy at 96.5% (down about 60 basis points year‑over‑year), improved bad debt, and longer average resident tenure. Invitation Homes exited the quarter with roughly $1.9 billion of liquidity, net debt/EBITDA of 5.2x, and approximately $8.3 billion of secured and unsecured debt, and completed a $600 million unsecured notes offering. The company authorized up to $500 million for share repurchases. Operationally it acquired about 526 homes for ~$179 million and disposed of roughly 292 homes for ~$112 million, owning about 85–86k homes per its 10‑Q.