Company: INVH
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001687229-25-000036
Chunk: 108

Company: Invitation Homes Inc.
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 1
Chunk 108
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 expenses.

Property management expense and general and administrative expense increased to $59.4 million from $54.1 million for the three months ended June 30, 2025 and 2024, respectively, primarily due to increased personnel and other costs related to expansion of our property and asset management platform, including costs incurred to manage a 27.1% increase in the average number of homes managed between periods.

Interest expense decreased to $87.4 million for the three months ended June 30, 2025 from $90.0 million for the three months ended June 30, 2024. The decrease in interest expense was primarily due to a decrease in gross debt outstanding, partially offset by a 17 bps increase in our weighted average interest rate, in each case, as of June 30, 2025 as compared to June 30, 2024. Additionally, the amendment of certain of our interest rate swap agreements during 2024 reduced related non-cash fair value amortization by $4.7 million for the three months ended June 30, 2025 compared to the three months ended June 30, 2024.

48

Depreciation and amortization expense increased to $185.5 million for the three months ended June 30, 2025 from $176.6 million for the three months ended June 30, 2024 due to an increase in cumulative capital expenditures and a 1,034 home increase in the average number of homes owned during the three months ended June 30, 2025 compared to the three months ended June 30, 2024.

Casualty losses, impairment, and other expenses were $3.0 million and $10.4 million for the three months ended June 30, 2025 and 2024, respectively. Expense during both periods is primarily comprised of casualty and other insurance losses. 

Gains (Losses) on Investments in Equity and Other Securities, net

For the three months ended June 30, 2025, gains (losses) on investments in equity and other securities, net of $0.1 million was comprised of net unrealized losses recognized on investments held at period end. For the three months ended June 30, 2024, gains on investments in equity and other securities, net of $1.5 million was comprised of a $1.6 million net realized gain from exercised warrants and $0