Invitation Homes INVH Q4 2025 Earnings Transcript | The Motley Fool
The Motley Fool
by newsfeedback@fool.com (Motley Fool Transcribing)February 19, 2026
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Invitation Homes (INVH) delivered strong financial results for Q4 2025, highlighted by a 2.3% increase in same-store NOI, exceeding the midpoint of guidance. The company maintained robust occupancy at 96.8%, with consistent turnover rates and long-term resident retention. Notably, AFFO reached $1.63 per share for the year, up 1.8% from the previous year, while core FFO rose to $1.91 per share. INVH also repurchased 3.6 million shares since October under a $500 million buyback program, signaling confidence in its stock value.
The company’s ResiBuilt initiative is expected to contribute modestly to AFFO in 2026, with plans for 2,000 home starts and 23 active fee-build contracts. INVH anticipates $250 million in new home deliveries and $550 million in dispositions next year, which will primarily fund future share repurchases. Despite these growth efforts,INVH remains cautious about potential risks, including higher insurance costs and increased competition in the rental market.
Looking ahead, INVH provided guidance for 2026 with NOI growth projected between 0%–2%, core revenue growth of 1%–2.5%, and expense growth at 3%–4%. Core FFO is expected to range from $1.90–$1.98 per share, while AFFO targets $1.60–$1.68 per share. The company’s financial stability is further supported by $1.7 billion in liquidity and a manageable debt-to-EBITDA ratio of 5.3x, with no debt maturities until June 2027.
INVH has also made strides in its credit-building program, helping over 160,000 residents improve their average credit scores by 50 points through positive rent reporting. This initiative underscores the company’s commitment to operational excellence and enhancing tenant
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Originally published on The Motley Fool on 2/19/2026