Company: INVH
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001687229-25-000019
Chunk: 80

Company: Invitation Homes Inc.
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 1
Chunk 80
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ated joint ventures.

(2)For the three months ended March 31, 2025 and 2024, $1,651 and $1,598, was recorded in property management expense, respectively, and $8,506 and $6,302 was recorded in general and administrative expense, respectively. 

(3)Incremental shares attributed to non-vested share-based awards totaling 584,274 and 1,587,646 for the three months ended March 31, 2025 and 2024, respectively, are included in weighted average common shares outstanding in the calculation of net income per common share — diluted. For the computations of FFO, Core FFO, and AFFO per common share — diluted, common share equivalents of 889,233 and 1,894,345 for the three months ended March 31, 2025 and 2024, respectively, related to incremental shares attributed to non-vested share-based awards are included in the denominator.

(4)Vested units of partnership interests in INVH LP (“OP Units”) have been excluded from the computation of net income per common share — diluted for the periods above because all net income attributable to the vested OP Units has been recorded as non-controlling interest and thus excluded from net income available to common stockholders. Weighted average vested OP Units of 1,979,009 and 1,873,341 for the three months ended March 31, 2025 and 2024, respectively, are included in the denominator for the computations of FFO, Core FFO, and AFFO per common share — diluted.

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ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Our future income, cash flows, and fair values relevant to financial instruments are dependent upon prevalent market interest rates. Market risk refers to the risk of loss from adverse changes in interest rates, seasonality, market prices, commodity prices, and inflation. The primary market risks to which we are exposed are interest rate risk and seasonality. We may in the future use derivative financial instruments to manage, or hedge, interest rate risks related to any borrowings we may have. We may enter into such contracts only with major financial institutions based on their credit ratings and other factors.

Interest Rate Risk

A primary market risk to which we believe we are exposed is interest rate risk, which may result from many factors, including government monetary and tax policies, fluctuating global and