Company: INVH
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001687229-25-000019
Chunk: 97

Company: Invitation Homes Inc.
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 2
Chunk 97
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 net

Other, net includes settlement and other costs related to certain litigation and regulatory matters, interest income, and other miscellaneous income and expenses. 

Gain on Sale of Property, net of tax

Gain on sale of property, net of tax consists of net gains and losses resulting from sales of our homes.

Income (Losses) from Investments in Unconsolidated Joint Ventures

Income (losses) from investments in unconsolidated joint ventures consists of our share of net earnings and losses from investments in unconsolidated joint ventures accounted for using the equity method.

45

Results of Operations

Portfolio Information

As of March 31, 2025 and 2024, we owned 85,261 and 84,445 single-family rental homes, respectively, in our total portfolio. During the three months ended March 31, 2025 and 2024, we acquired 577 and 257 homes, respectively, and sold 454 and 379 homes, respectively. During the three months ended March 31, 2025 and 2024, we owned an average of 85,189 and 84,486 single-family rental homes, respectively. As of March 31, 2025 and 2024, we provided property and asset management services for an average of 25,161 and 18,129 homes, respectively, of which an average of 7,621 and 3,847 homes, respectively, were owned by our unconsolidated joint ventures.

We believe presenting information about the portion of our total portfolio that has been fully operational for the entirety of both a given reporting period and its prior year comparison period provides investors with meaningful information about the performance of our comparable homes across periods and about trends in our organic business. To do so, we provide information regarding the performance of our Same Store portfolio.

As of March 31, 2025, our Same Store portfolio consisted of 78,078 single-family rental homes.

Three Months Ended March 31, 2025 Compared to Three Months Ended March 31, 2024

The following table sets forth a comparison of the results of operations for the three months ended March 31, 2025 and 2024:For the Three MonthsEnded March 31,($ in thousands)20252024$ Change% ChangeRevenues:Rental revenues and other property income$653,071 $632,097 $20,974 3.3 %Management fee revenues21,408 13,942