Invitation Homes Inc. (INVH)

Invitation Homes is a leading owner and operator of single-family homes for lease in the United States. Founded in 2012, it has built a vertically integrated platform to acquire, renovate, lease, maintain and manage homes it owns and homes it manages for others. As of December 31, 2025, it wholly owned 86,192 homes, jointly owned 8,006 homes, and provided third-party property and asset management for another 15,866 homes. INVH is a Maryland REIT that conducts its operations through INVH LP, of which it owns 99.7%. A manager subsidiary provides management and administrative services for the properties it owns, including its unconsolidated joint ventures.

Its activities cover property operations (marketing, leasing, resident relations and maintenance through its "ProCare" platform), investment and asset management, property renovation and maintenance, and, more recently, land development and construction. On January 14, 2026, it acquired ResiBuilt Homes, LLC, a fee homebuilder specializing in single-family rental communities in high-growth Southeast markets. In May 2025, it launched a developer lending program to provide financing to homebuilders for new single-family communities that may become future acquisitions. The owned homes average about 1,880 square feet, with three to four bedrooms and two bathrooms. Acquisitions target mainly newly constructed homes through homebuilder relationships or ResiBuilt, and in some cases existing homes through portfolio purchases or, on a limited basis, the MLS.

Its customers are residents who lease its homes, many of them first responders, healthcare workers, teachers and other essential workers. It also serves joint venture partners and third-party owners for whom it provides management services. The homes are mainly in 16 core markets, primarily in the Western United States, Florida and the Southeast, chosen for strong demand drivers, high barriers to entry and rent growth potential. Residents can apply, pay rent and request maintenance through a mobile app and online portal, and homes are advertised through its own website, listing services such as Zillow, Trulia, HotPads and Realtor.com, the MLS and local brokers.

Operationally, local teams led by Vice Presidents of Operations in each core market handle leasing, property management and maintenance, supported by centralized national infrastructure, technology-enabled workflows and a pricing tool that analyzes public market data. In-house associates perform ordinary maintenance, while complex work such as roofing, HVAC, plumbing and electrical is outsourced to vetted third-party vendors. Resident screening uses third-party providers. Homebuilders supply newly constructed homes under contracts with periodic deposits and scheduled deliveries. Its principal executive offices are at 5420 LBJ Freeway, Suite 600, Dallas, Texas, and it also has field offices in its core markets.