Invitation Homes Inc 2026年季度报告

INVITATION HOMES INC. PART I — Financial Information This Quarterly Report on Form10-Q contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities ExchangeAct of 1934, as amended (the “Exchange Act”), which include, but are not limited to, statements related to our expectations regarding the performance of our business, our financial results, our liquidityand capital resources, and other non-historical statements. In some cases, you can identify these forward-looking statements by the use of words such as “outlook,” “believes,” “expects,” “potential,”“continues,” “may,” “will,” “should,” “could,” “seeks,” “projects,” “predicts,” “intends,” “plans,” “estimates,” “anticipates,” or the negative version of these words or other comparable words. Suchforward-looking statements are subject to various risks and uncertainties that may impact our financial condition, results of operations, cash flows, business, associates, and residents, including, amongothers, risks inherent to the single-family rental industry and our business model, macroeconomic factors beyond our control, federal, state, and local laws, regulations, executive actions, and policyinitiatives, competition in identifying and acquiring properties, competition in the leasing market for quality residents, increasing property taxes, homeowners’ association (“HOA”) fees, and insurancecosts, poor resident selection and defaults and non-renewals by our residents, our dependence on third parties for key services, risks related to the evaluation of properties, performance of ourinformation technology systems, development and use of artificial intelligence (“AI”), risks related to our indebtedness, risks related to the potential negative impact of fluctuating global and UnitedStates economic conditions (including inflation and imposition or increase of tariffs and trade restrictions by the United States and foreign countries), uncertainty in financial markets (including as aresult of events affecting financial institutions), geopolitical tensions, natural disasters, climate change, and public health crises. Accordingly, there are or will be important factors that could cause actualoutcomes or results to differ materially from those indicated in these statements. We believe these factors include but are not limited to, those described under PartI. Item1A. “Risk Factors”in ourAnnual Report on Form10-K for the year ended December31, 2025 (the “Annual Report on Form10-K”) as such factors may be updated from time to time in our periodic filings with the Securities andExchange Commission (the “SEC”), which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the othercautionary statements that are included in this Quarterly Report on Form10-Q, in the Annual Report on Form10-K, and in our other periodic filings. The forward-looking statements speak only as of thedate of this Quarterly Report on Form10-Q, and we expressly disclaim any obligation or undertaking to publicly update or review any forward-looking statement, whether as a result of new information,future developments or otherwise, except to the extent otherwise required by law. DEFINED TERMS Invitation Homes Inc. (“INVH”), a real estate investment trust (“REIT”), conducts its operations through Invitation Homes Operating Partnership LP (“INVHLP”). Through THR PropertyManagementL.P., a wholly owned subsidiary of INVHLP, and its wholly owned subsidiaries (collectively, the “Manager”), we provide all management and other administrative services with respect tothe properties we own. The Manager also provides professional property and asset management services to portfolio owners of single-family homes for lease, including our investments inunconsolidated joint ventures. Unless the context suggests otherwise, references in this Quarterly Report on Form10-Q to “Invitation Homes,” the “Company,” “we,” “our,” and “us” refer to INVH andits consolidated subsidiaries. In this Quarterly Report on Form10-Q: •“average monthly rent” represents average monthly rental income per home for occupied properties in an identified population of homes over the measurement period and reflects the impact ofnon-service rent concessions and contractual rent increases amortized over the life of the related lease. We believe average monthly rent reflects pricing trends that significantly impact rentalrevenues over time, making average monthly rent useful to management and external stakeholders as a means of evaluating changes in rental revenues across periods;•“average occupancy” for an identified population of homes represents (i)the total number of days that the homes in such population were occupied during the measurement period, divided by(ii)the total number of days that the homes in such population were owned during the measurement period. We believe a