INVH

Persistent inflation, massive government deficits, and de-dollarization make high-quality, inflation-resistant real assets increasingly attractive for long-term investors. Two diversified real asset businesses are trading at enormous discounts to their underlying private market asset values, creating potentially compelling opportunities for value and income investors. Both companies are selling assets at attractive private market valuations and repurchasing their own shares at steep discounts, potentially generating substantial NAV per share accretion.

Invitation Homes NYSE: INVH reported third-quarter results marked by stronger renewal rent growth, continued share repurchases funded in part by home sales, and an increase in its full-year Core FFO guidance.

Invitation Homes Inc. ( INVH ) Q3 2026 Earnings Call October 29, 2026 11:00 AM EDT Company Participants Scott McLaughlin - Senior Vice President of Investor Relations & Tax Dallas Tanner - Co-Founder, CEO, President & Director Tim Lobner - Executive VP & COO Jonathan Olsen - Executive VP, CFO & Treasurer Conference Call Participants Eric Wolfe - Citigroup Inc., Research Division Steve Sakwa - Evercore ISI Institutional Equities, Research Division James Feldman - Wells Fargo Securities, LLC, Research Division Nahom Tesfazghi - JPMorgan Chase & Co, Research Division Juan Sanabria - BMO Capital Markets Equity Research Austin Wurschmidt - KeyBanc Capital Markets Inc., Research Division Haendel St. Juste - Mizuho Securities USA LLC, Research Division Julien Blouin - Goldman Sachs Group, Inc., Research Division John Pawlowski - Green Street Advisors, LLC, Research Division Brad Heffern - RBC Capital Markets, Research Division Adam Kramer - Morgan Stanley, Research Division Jana Galan - BofA Securities, Research Division Richard Hightower - Barclays Bank PLC, Research Division Ami Probandt - UBS Investment Bank, Research Division Peter Abramowitz - Deutsche Bank AG, Research Division Jesse Lederman - Zelman & Associates LLC Jason Sabshon - Keefe, Bruyette, & Woods, Inc., Research Division Presentation Operator Welcome to the Invitation Homes Third Quarter 2026 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded.

Invitation Homes Q3 FFO matches estimates as revenues grow 6.3%, while improving lease pricing, higher same-store NOI and raised 2026 FFO guidance support its outlook.

INVH heads into Q3 earnings with revenue and FFO growth in focus, supported by strong renewal pricing, healthy rental demand and improving supply conditions.

A new federal rule threatens penalties that could dwarf the price of any single home purchase, and the two biggest single-family landlords in America just watched their stocks climb on the day it dropped.

REIT rent growth could accelerate significantly starting in 2027. Falling construction activity could give landlords stronger pricing power. Some heavily discounted REITs could offer substantial upside as growth recovers.

Berkshire Hathaway has aggressively accumulated Lennar shares, betting on its management, national scale, and asset-light transition. Lennar's relationship with Millrose Properties, now a significant buyer of completed Lennar homes, raises governance and incentive concerns as MRP shifts from land-banking to rental properties. Millrose's pivot to acquiring and renting completed homes introduces lower yields (~5% NOI vs. 8.5% land-banking) and higher operational risks, prompting a Sell rating on MRP.

Mortgage rates just hit their highest level in nearly three years. First-time homebuyers are feeling it most, and that shift is opening a door for three housing stocks built around affordability.

DALLAS--(BUSINESS WIRE)--Invitation Homes Inc. (NYSE: INVH) (“Invitation Homes,” the “Company,” or "our"), the nation's premier single-family home leasing and management company, will release third quarter 2026 financial and operating results on Wednesday, October 28, 2026, after the market closes. The Company will host a live webcast on Thursday, October 29, 2026, at 11:00 a.m. Eastern Time to review third quarter results, discuss recent events, and conduct a question-and-answer session with c.