Invitation Homes (INVH) 2023 Earnings Call Presentation

Financial Performance & Market Trends - May QTD Same Store new lease rate growth was 7.4% compared to 5.7% in 1Q23[7] - May QTD Same Store renewal rate growth was 6.9% compared to 8.0% in 1Q23[7] - May QTD Same Store blended rate growth was 7.0% compared to 7.3% in 1Q23[7] - May QTD Same Store average occupancy was 97.7% compared to 97.8% in 1Q23[7] - New residents have an average annual income of over $134,000 and an income to rent ratio of 5.1x as of 1Q23[11] - Average annual SS-NOI growth from 2017 to 2022 was 6.6%[24] Portfolio & Strategy - Over 95% of revenue comes from the Western U S, Sunbelt, and Florida[13, 24] - The company has over $1.3 billion of liquidity as of March 31, 2023[11] - 83.1% of homes are unencumbered[11] - The company manages 86,580 homes[35]