Invitation Homes Inc. · NYSE:INVH
Invitation Homes — Investor Presentation (November 2023)
22 slides from Invitation Homes's investor presentation, November 2023
Slide 1: Investor Presentation
Investor Presentation November 2023 Together with you, we make a house a home.
Slide 2: Key Takeaways And Updates
Key Takeaways And Updates We are the nation’s premier single-family home leasing company, with an emphasis on the resident experience Our October 2023 Same Store results: Renewal lease rate growth of 7.0% (versus 6.6% in 3Q23), reflecting continued monthly acceleration since July 2023 New leas
Slide 3: A Business Model For All Seasons
A Business Model For All Seasons We believe our portfolio and proven strategy position us well to weather periods of economic uncertainty The location and quality of our homes attract a higher-end SFR customer; new residents (T12M) have an average annual income of over $142,000 and an income-to-re
Slide 4: Our Commitment To ESG
Our Commitment To ESG Read our April 2023 Sustainability Progress Overview online at www.InvitationHomes.com/Sustainability Resident education on energy efficiency ENERGY STAR® certified appliances and durable, energy-efficient materials ENVIRONMENTAL Smart Home technology and HVAC filter deli
Slide 5: I. Strategic Approach To Growth
I. Strategic Approach To Growth South Florida 5
Slide 6: Differentiated Portfolio And Platform
Differentiated Portfolio And Platform We are strategically positioned around three pillars that enhance growth and the resident experience Track Record of Sector-Leading Growth and High-Quality Resident Experience Location Scale Eyes in Markets • We believe infill locations • Average of nearly 5,300
Slide 7: Multi-Channel Approach To Acquisitions
Multi-Channel Approach To Acquisitions Our multi-channel approach puts eyes on more opportunities and maximizes selectivity We believe our multi-channel acquisition approach enables significant external growth in better locations without on-balance-sheet development risk Channel agnostic, location
Slide 8: Differentiated Approach To Build-To-Rent (BTR)
Differentiated Approach To Build-To-Rent (BTR) We partner with the nation’s best homebuilders rather than competing directly against them Orlando Our homebuilder-relationship approach to BTR offers what we believe are comparable investment yields of 6%+ with few of the risks of on-balance sheet BT
Slide 9: Leveraging Our Best-In-Class Property Management Playbook
Leveraging Our Best-In-Class Property Management Playbook Capital-light opportunity to meaningfully grow AFFO/share with owners of large SFR portfolios Key benefits for Invitation Homes: Drive meaningful AFFO/sh growth and margin expansion with value-add platform & minimal capital investment Hig
Slide 10: July 2023 Portfolio Acquisition Of Exceptionally Well-Located Homes
July 2023 Portfolio Acquisition Of Exceptionally Well-Located Homes High-growth portfolio that further enhances and leverages our scale and margin expansion opportunities 1,870 homes acquired from one seller in 3Q 2023 for approximately $645 million Over 90% of the homes overlap with our existin
Slide 11: Track Record Of Consistency And Sector-Leading Growth
Track Record Of Consistency And Sector-Leading Growth Differentiated locations, scale, and local expertise have driven consistent organic growth outperformance 2017 SS-NOI Growth 2018 SS-NOI Growth 2019 SS-NOI Growth Invitation Invitation Invitation 7.4% 4.4% 5.6% Homes Homes Homes AMH 5.1% AMH 2.8%
Slide 12: II. Location & Scale
Denver Tampa II. Location & Scale 12
Slide 13: Location: High-Growth Markets
Location: High-Growth Markets We focus on high-growth markets and in-fill neighborhoods with proximity to jobs, transportation, and schools ~96% of revenue from Western Seattle 6% U.S., Sunbelt, and Florida Minne- apolis 6.6% Northern 1% Chicago avg annual SS-NOI growth California 3% 6% from 2017 to
Slide 14: Scale: Atlanta Case Study
Scale: Atlanta Case Study Our industry-leading scale enables us to operate efficiently with significant local presence in markets Atlanta - 12,752 Homes (1) ATL 1 • 1 Vice President of Operations 2,771 Homes • 2 Director of Operations • 1 Rehab/Turn/R&M Director ATL 2 • 5 Portfolio Directors 2,757 H
Slide 15: III. Eyes In Markets
Phoenix Tampa III. Eyes In Markets 15
Slide 16: Best-In-Class, Local Approach To Operations And Investing
Best-In-Class, Local Approach To Operations And Investing Local, high-touch service with eyes in markets enhances control over asset quality and the resident experience Central strategy, tools, and oversight Differentiated Approach Local resident service, leasing, and investment/asset management,
Slide 17: Proactive Resident Service And Asset Management
Proactive Resident Service And Asset Management ProCare proactive maintenance program designed to optimize each touch point with our residents and homes ProCare is our differentiated approach to service that leverages proactive engagement with residents and homes to maximize resident satisfaction
Slide 18: Growing Our Value-Add Services
Growing Our Value-Add Services We remain on track with our multi-year plan to grow value-add services to enhance the resident experience Bundled Internet Introduction: We are rolling out a bundled internet and digital media package to many of our residents across the country Residents receive
Slide 19: IV. Industry Fundamentals
IV. Industry Fundamentals Denver 19
Slide 20: Meeting An Underserved Need In The Housing Market
Meeting An Underserved Need In The Housing Market We provide a unique experience, but today serve only 0.5% of the growing demand for single-family rentals Current U.S. Population by Age Cohort (2) U.S. Housing Summary (1) (millions of people) Potential 132 Million Households Future 24 Demand Owned:
Slide 21: Supply Continues To Be Constrained
Supply Continues To Be Constrained We believe a decade-long shortfall in single-family construction is likely to persist for the foreseeable future Higher labor costs, materials costs, impact fees, land scarcity, and regulatory hurdles have been barriers to new supply Replacement cost for single
Slide 22: Disclaimer
Disclaimer This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, 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 Comp
Invitation Homes — Investor Presentation (November 2023) on 6ix