Invitation Homes Inc. (NYSE:INVH) Q3 2019 Earnings Conference Call October 30, 2019 11:00 AM ET Company Participants Greg Van Winkle - Vice President of Investor Relations Dallas Tanner - President and Chief Executive Officer Charles Young - Chief Operating Officer Ernest Freedman - Chief Financial Officer Conference Call Participants Nick Joseph - Citi Rich Hill - Morgan Stanley Shirley Wu - Bank of America Merrill Lynch John Pawlowski - Green Street Advisors, Inc. Douglas Harter - Credit Suisse Jason Gree ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-38004 Invitation Homes Inc. (Exact name of registrant as specified in its charter) Maryland 90-0939055 (State or other jurisdiction of ...

Invitation Homes Inc. (NYSE:INVH) Q2 2019 Results Conference Call July 31, 2019 11:00 AM ET Company Participants Greg Van Winkle - Vice President of Investor Relations Dallas Tanner - President and Chief Executive Officer Ernie Freedman - Chief Financial Officer Charles Young - Chief Operating Officer Conference Call Participants Douglas Harter - Credit Suisse Rich Hill - Morgan Stanley Shirley Wu - Bank of America Merrill Lynch Nick Joseph - Citi Jade Rahmani - KBW Drew Babin - Baird Hardik Goel - Zelman & ...

Portfolio Overview - As of June 30, 2019, Invitation Homes owned 80,322 single-family rental homes, a decrease from 82,424 homes in the previous year[239]. - The Same Store portfolio consisted of 72,787 single-family rental homes as of June 30, 2019[241]. - The Western United States and Florida markets accounted for 70.4% of rental revenues during the three months ended June 30, 2019, driven by strong demand fundamentals[219]. Acquisitions and Sales - During the three months ended June 30, 2019, the company acquired 740 homes and sold 779 homes, compared to 263 acquisitions and 348 sales in the same period of 2018[239]. - The number of homes sold increased to 779 in the three months ended June 30, 2019, from 348 in the same period of 2018, resulting in a gain on sale of property, net of tax, of $26.2 million[257]. - The company has commitments to acquire 146 single-family rental homes as of June 30, 2019[342]. Financial Performance - Total rental revenues and other property income for Q2 2019 was $441.6 million, a 2.1% increase from $432.4 million in Q2 2018[244]. - Net income for Q2 2019 was $39.4 million, a significant increase of 377.7% compared to a net loss of $14.2 million in Q2 2018[243]. - Net income for the six months ended June 30, 2019, was $60.6 million, a significant increase of 290.7% compared to a net loss of $31.8 million in 2018[259]. Rental Income and Occupancy - The average occupancy rate across the total portfolio was 94.6% as of June 30, 2019, with the Same Store portfolio achieving a higher occupancy rate of 96.5%[215][216]. - Average monthly rent for the total portfolio was $1,800, while the Same Store portfolio had an average monthly rent of $1,804[215]. - Average monthly rent per occupied home increased by 4.3% to $1,800 in Q2 2019 from $1,725 in Q2 2018[245]. - Average monthly rent per occupied home for the first half of 2019 was $1,791, reflecting a 4.4% increase from $1,715 in the first half of 2018[261]. Expenses and Cost Management - Total expenses decreased to $429.0 million in Q2 2019 from $452.2 million in Q2 2018, a reduction of 5.1%[250]. - Total expenses for the first half of 2019 were $864.0 million, down from $900.7 million in the first half of 2018, a decrease of 4.1%[267]. - General and administrative expenses decreased to $15,956,000 in Q2 2019 from $24,636,000 in Q2 2018, a reduction of 35%[356]. Debt and Financing - Total mortgage loan indebtedness decreased from $7,201.7 million as of December 31, 2018, to $6,509.9 million as of June 30, 2019[282]. - The company made voluntary and mandatory prepayments of $709.4 million for the six months ended June 30, 2019, compared to $3,198.6 million for the same period in 2018[296]. - The Credit Facility provides a total borrowing capacity of $2.5 billion, consisting of a $1 billion Revolving Facility and a $1.5 billion Term Loan Facility[304]. Operational Efficiency - Invitation Homes aims to maintain a vertically integrated operating platform to efficiently manage its portfolio and capture economies of scale[213]. - The company actively manages property improvements and maintenance to optimize capital expenditures and enhance rental revenues[222]. - Invitation Homes has invested in upfront renovations to reduce ongoing maintenance costs and drive resident demand, resulting in high occupancy and low turnover rates[214]. Cash Flow and Liquidity - For the six months ended June 30, 2019, net cash provided by operating activities was $375.3 million, an increase of 20.9% compared to $310.3 million for the same period in 2018[331]. - Net cash used in financing activities was $455.1 million for the six months ended June 30, 2019, compared to $127.6 million for the same period in 2018[334]. - Liquidity and capital resources included unrestricted cash of $77.0 million as of June 30, 2019, a 46.9% decrease from $144.9 million as of December 31, 2018[275]. Performance Metrics - NOI for the total portfolio in Q2 2019 was $275,008,000, an increase of 3% from $267,003,000 in Q2 2018[356]. - FFO for Q2 2019 was $149,091,000, compared to $128,489,000 in Q2 2018, reflecting a 16% increase[365]. - Adjusted EBITDAre for the six months ended June 30, 2019, was $497.40 million, compared to $476.58 million for the same period in 2018[350].

NAREIT Presentation June 4 - 5, 2019 Together with you, we make a house a home. Disclaimer This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), which include, but are not limited to, statements related to the Company's expectations regarding the anticipated benefits of the merger with Starwood Waypoint Homes, the performa ...

Invitation Homes Inc. (NYSE:INVH) Q1 2019 Earnings Conference Call May 7, 2019 11:00 AM ET Company Participants Greg Van Winkle – Vice President-Investor Relations Dallas Tanner – President and Chief Executive Officer Charles Young – Chief Operating Officer Ernie Freedman – Chief Financial Officer Conference Call Participants Alex Barker – Baird Nick Joseph – Citi Shirley Wu – Bank of America Merrill Lynch Derek Johnston – Deutsche Bank Jason Green – Evercore Rich Hill – Morgan Stanley Hardik Goel – Zelman ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2019 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-38004 Invitation Homes Inc. (Exact name of registrant as specified in its charter) Maryland (State or other jurisdiction of incorporation o ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38004 Invitation Homes Inc. (Exact name of registrant as specified in governing instruments) Maryland (State or other jurisdiction of incorpora ...