Company: INVH
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001687229-25-000019
Chunk: 107

Company: Invitation Homes Inc.
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 2
Chunk 107
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, an increase of 13.2%. The increase in cash provided by operating activities is primarily due to improved operational profitability, including a $28.4 million increase in total revenues and 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 $114.2 million and $24.9 million for the three months ended March 31, 2025 and 2024, respectively, an increase of $89.3 million. The increase in net cash used in investing activities resulted primarily from the combined effect of the following significant changes in cash flows during the three months ended March 31, 2025 compared to the three months ended March 31, 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) an increase in cash used for investments in joint ventures. Acquisition spend increased by $80.9 million from period to period due to an increase in the number of homes acquired from 257 during the three months ended March 31, 2024 to 577 homes acquired during the three months ended March 31, 2025. Proceeds from the sale of single-family homes increased $30.7 million due to an increase in the number of homes sold from 379 during the three months ended March 31, 2024 to 454 homes sold during the three months ended March 31, 2025 and an increase in average net proceeds per home. Cash used in other investing activities increased $24.0 million from period to period primarily due to an increase in capital expenditures to repair hurricane damage to homes from 2024 storms. Cash invested in joint ventures increased $9.7 million from period to period as a result of increased contributions to certain of the joint ventures during the three months ended March 31, 2025.

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Financing Activities

Net cash used in financing activities was $287.4 million for the three months ended March 31, 2025 compared to net cash used in financing activities of $190.8 million for the three months ended March 31, 2024. The change