Invitation Homes Inc. (INVH) shares soared over 5% in Thursday's intraday trading session, driven by the company's better-than-expected fourth quarter 2024 earnings results and an optimistic outlook for 2025.
In the fourth quarter, INVH reported core funds from operations (FFO) per share of $0.47, meeting analysts' consensus estimates. The company's total revenues of $659.1 million came in slightly below expectations but marked a solid 5.6% year-over-year increase.
Invitation Homes' performance was supported by robust growth in same-store net operating income (NOI) and blended rent. However, occupancy levels dipped modestly to 96.7%, tempering the results to some extent. The company also saw strength in acquisitions, adding 501 homes to its portfolio during the quarter.
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