Invitation Homes is a real estate investment trust (REIT) that is a premier single-family home leasing and management company in the United States. The company owns and operates a portfolio of single-family homes for lease, with properties concentrated in the Western U.S. (including markets in Southern and Northern California, Seattle, Phoenix, Las Vegas, and Denver), Florida (South Florida, Tampa, Orlando), the Southeast (Atlanta, the Carolinas), Texas (Dallas, Houston), and the Midwest (Chicago, Minneapolis). Invitation Homes' growth strategy includes acquiring newly-constructed homes through partnerships with various homebuilders. The company also pursues a build-to-rent development strategy, notably through its acquisition of ResiBuilt, an in-house platform focused on developing new rental communities in high-growth markets across the Southeast.
Invitation Homes has recently shifted its capital allocation priorities, moving to become a net seller of homes in 2026. Management intends to use the proceeds from these dispositions to fund share repurchases, noting that the stock trades at an implied cap rate in the 7% range, which contrasts with the low-4% cap rates achieved on recent property dispositions. Additionally, the company changed its dividend on December 23, 2025, raising the quarterly payout by 3.45% from $0.29 to $0.30 per share.
**Acquisitions**
**Dispositions**
**Refinancings, new loans & other capital markets**
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