Company: INVH
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001687229-25-000036
Chunk: 119

Company: Invitation Homes Inc.
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 1
Chunk 119
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 Flows

Six Months Ended June 30, 2025 Compared to Six Months Ended June 30, 2024

The following table summarizes our cash flows for the six months ended June 30, 2025 and 2024: 

For the Six MonthsEnded June 30,($ in thousands)20252024$ Change% ChangeNet cash provided by operating activities$682,978 $635,382 $47,596 7.5 %Net cash used in investing activities(416,915)(200,200)(216,715)(108.2)%Net cash used in financing activities(402,032)(369,488)(32,544)(8.8)%Change in cash, cash equivalents, and restricted cash$(135,969)$65,694 $(201,663)(307.0)%

Operating Activities

Our cash flows provided by operating activities depend on numerous factors, including the occupancy level of our homes, the rental rates achieved on our leases, the collection of rent from our residents, and the amount of our operating and other expenses. Net cash provided by operating activities was $683.0 million and $635.4 million for the six months ended June 30, 2025 and 2024, respectively, an increase of 7.5%. The increase in cash provided by operating activities is primarily due to improved operational profitability, including a $56.4 million increase in total revenues, net of changes in operating assets and liabilities from period to period.

Investing Activities

Net cash used in investing activities consists primarily of the acquisition costs of homes, capital improvements, proceeds from property sales, and investments in unconsolidated joint ventures. Net cash used in investing activities was $416.9 million and $200.2 million for the six months ended June 30, 2025 and 2024, respectively, an increase of $216.7 million. The net increase in  cash used in investing activities resulted primarily from the combined effect of the following significant changes in cash flows during the six months ended June 30, 2025 compared to the six months ended June 30, 2024: (1) an increase in cash used for the acquisition of homes; (2) an increase in cash proceeds received from the sale of single-family homes; (3) an increase in cash used for other investing activities; and (4) a decrease in cash used for investments in joint ventures. Acquisition spend