Invitation Homes (INVH) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Invitation Homes published the results on October 28, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Invitation Homes reports EPS two ways: GAAP, under the accounting rules every US filer follows, and Core FFO per share, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Invitation Homes is a REIT. Revenue on this page is the line it calls total revenues, and the adjusted EPS line is Core FFO per diluted share, the REIT measure it reports alongside GAAP net income per share.
• Homebuilding revenues come from ResiBuilt, a fee homebuilder Invitation Homes acquired on January 14, 2026, so there is no year-ago figure.
• On September 15, 2026 Invitation Homes dissolved its Pathway joint ventures and consolidated 894 homes, recognizing a non-cash net loss of $30.4 million that it excludes from Core FFO.

Source: Invitation Homes Q3 2026 results, October 28, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Invitation Homes splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Invitation Homes's Rental revenues revenue was $597 million in Q3 2026, up 1% from $594 million in Q3 2025, 82% of total revenue.
• Invitation Homes's Other property income revenue was $78.2 million in Q3 2026, up 8% from $72.6 million in Q3 2025, 11% of total revenue.
• Invitation Homes's Management fee revenues revenue was $19.9 million in Q3 2026, down 9% from $22.0 million in Q3 2025, 3% of total revenue.
• Invitation Homes's Homebuilding revenues revenue was $35.8 million in Q3 2026, 5% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q3 2026 release, Invitation Homes said:

“We have raised our full year 2026 guidance, including an increase to the Core FFO per share midpoint by $0.01 to $1.96 as set forth below, in addition to our other underlying assumptions.”

“we are raising our full year guidance midpoints for Core FFO per share by $0.01 to $1.96, Same Store NOI growth guidance to 1.2%, and wholly owned home sales to $950 million”

“Same Store Core Operating Expenses growth guidance assumes a year over year increase in FY 2026 property taxes in a range of 3% to 4%.”

Source: Invitation Homes Q3 2026 earnings release and supplemental, Oct 28, 2026.

This is the company's own guidance as of Oct 28, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the INVH forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

Total revenues and GAAP net income per diluted common share, each as first reported in that quarter's earnings release and supplemental.

We do not hold a confirmed date for Invitation Homes's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Oct 28, 2026

Invitation Homes is a single-family home leasing REIT, and rent is most of its revenue. In Q3 2026 rental revenues were $597.3 million of total revenues of $731.3 million, other property income $78.2 million, management fee revenues $19.9 million and homebuilding revenues $35.8 million. Total revenues rose 6.3% from $688.2 million a year earlier. (Invitation Homes Q3 2026 earnings release and supplemental, Oct 28, 2026)

Invitation Homes added homebuilding revenue in 2026 by acquiring ResiBuilt, a fee homebuilder that builds single-family rental communities in Southeast markets, on January 14, 2026. Its $35.8 million of homebuilding revenues has no year-ago comparison, while rental revenues rose from $593.6 million. (Invitation Homes Form 10-Q, Q3 2026, Oct 29, 2026; Invitation Homes Q3 2026 earnings release and supplemental, Oct 28, 2026)

In the Same Store portfolio of 76,687 homes, Invitation Homes' Core Revenues grew 1.6%, driven by a 1.8% increase in Average Monthly Rent and a 2.6% increase in other property income, partly offset by a 10 basis point decline in Average Occupancy to 96.4% and a 10 basis point rise in bad debt. Renewal rents rose 4.3% while new lease rents fell 0.2%, for blended rent growth of 3.0%. (Invitation Homes Q3 2026 earnings release and supplemental, Oct 28, 2026)

Invitation Homes sold 658 wholly owned homes in Q3 2026, most to families buying them to live in, for gross proceeds of about $318 million, and acquired 216 for about $74 million. It wholly owned 85,961 homes at September 30, 2026, and its 10-K says its homes are primarily located in 16 core markets, mainly in the Western United States, Florida and the Southeast. (Invitation Homes Q3 2026 earnings release and supplemental, Oct 28, 2026; Invitation Homes Form 10-K, 2025, Feb 19, 2026)

Invitation Homes' GAAP net income per diluted share was $0.27 in Q3 2026, up from $0.22, helped by a $136.2 million gain on the sale of property against $45.5 million a year earlier. Core FFO per share, the measure REIT analysts follow, was $0.48 against $0.47, and AFFO per share was $0.38 in both periods. (Invitation Homes Q3 2026 earnings release and supplemental, Oct 28, 2026)

FFO strips out depreciation and real estate sale gains, and Core FFO further excludes items such as business reorganization costs, share-based compensation and debt extinguishment losses. Business reorganization of $32.0 million in Q3 2026 included the $30.4 million loss from dissolving the Pathway joint ventures, FFO per share fell to $0.36 from $0.44 while Core FFO per share rose. (Invitation Homes Q3 2026 earnings release and supplemental, Oct 28, 2026)

Buybacks reduced Invitation Homes' weighted average diluted shares to 588,534,202 from 613,084,571 a year earlier. It repurchased 8,874,903 shares for approximately $250 million in Q3 2026, and its board authorized another $500 million program on October 26, 2026. Invitation Homes said Core FFO per share growth came primarily from the lower share count and Same Store NOI growth. (Invitation Homes Q3 2026 earnings release and supplemental, Oct 28, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Invitation Homes guides on REIT measures for the full year, not on GAAP earnings or revenue. With Q3 2026 results it raised the midpoint of its 2026 Core FFO per share range by $0.01 to $1.96 (range $1.94 to $1.98), kept AFFO per share at $1.63 to $1.67, and raised its Same Store NOI growth midpoint to 1.2%. Its planned wholly owned dispositions rose to a midpoint of $950 million. (Invitation Homes Q3 2026 earnings release and supplemental, Oct 28, 2026)

Invitation Homes says that, in line with SEC rules, it does not give guidance for net income per share, total revenues or property operating and maintenance expense. (Invitation Homes Q3 2026 earnings release and supplemental, Oct 28, 2026)

A consensus figure is the average of the models published by the analysts who cover Invitation Homes, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Invitation Homes's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning INVH is on is INVH a buy or a sell?, what analysts expect next is on the INVH forecast, and what the company does is on the Invitation Homes (INVH) stock page.

Every number on this page can be traced to a document Invitation Homes published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.