Company: INVH
Filing Date: 2025-04-03
Form Type: DEF 14A
Source: 0000950170-25-049911
Chunk: 1

Company: Invitation Homes Inc.
Filing Date: 2025-04-03
Form: DEF 14A
Chunk 1
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uality Resident Experience

SCALE</div>

Average of over 5,300 wholly owned homes across our 16 core markets

~99% of revenue from markets with 2,000+ wholly owned homes

Over 25,000 JV and third-party managed homes, nearly all of which are in our core and identified target markets

Three markets (Atlanta, Phoenix, and Tampa) with over 10,000 homes owned and/or managed

Resident

Satisfaction

36.9

Months

Average Same

Store Resident

Tenure

97.3%

Average Same

Store Occupancy

Rate

79.5%

Average Same

Store Renewal

Rate

4.1

Cumulative

All-Time

Google & Yelp

Rating

Thank you for taking the time to vote and for your investment in Invitation Homes. Sincerely,

| Dallas B. Tanner |                                        |
|                  | Co-founder and Chief Executive Officer |

Dear Fellow Stockholders:

The role we serve in today’s housing market has never been more important. With home ownership becoming increasingly out of reach for many in America, we’re proud to offer high-quality homes and a professional experience to the growing share of people who count on the flexibility and savings of leasing versus owning a home. While these advantages are what frequently drive initial demand for our homes, what encourages people to stay with us is our commitment to an outstanding resident experience. I'd like to summarize a few of our team’s accomplishments during 2024: • We were once again a leader within the Residential REIT sector during 2024, with 7.7% growth in total revenues, 6.4% growth in Core FFO per share, and 6.7% growth in AFFO per share on a year over year basis. • Through our homebuilder partnerships, we helped construct over 1,800 new homes, with a pipeline of over 2,000 additional homes as of December 31, 2024. We also sold over 1,500 homes on the open market, frequently to individual homeowners. • Our balance sheet has never been stronger. As of December 31, 2024, over 83% of our total debt was unsecured, over 91% was fixed rate or swapped to fixed rate, and nearly 90% of our wholly owned homes were unencumbered. We have no debt reaching final maturity before 2027. • We continue to differentiate our approach with residents through our signature Genuine Care. We believe this helped drive our