Invitation Homes (INVH) furnished a new investor presentation providing a mid-quarter update on business operations and capital allocation. The company detailed its ongoing capital recycling strategy, highlighting $700 million in share repurchases since December 2025, funded primarily by property dispositions.
Key Details
- Capital Allocation: INVH has repurchased $700 million of its stock since December 2025 at an average price of $26.72 per share, representing 4.3% of shares outstanding. There is $300 million remaining under its $1 billion authorization.
- Property Dispositions: Year-to-date (as of September 4, 2026), the company has completed $740 million in property sales at an average price of ~$460,000 per home. It reiterated its full-year 2026 disposition guidance of $850 million.
- Leasing Update (July-August 2026): The company reported a Same Store blended rental rate growth of 3.2% for July and August, with renewals increasing by 4.3% and new leases by 0.3%. Average occupancy for the period was 96.4%.