A month has gone by since the last earnings report for Invitation Home (INVH Quick QuoteINVH - Free Report) . Shares have lost about 2.7% in that time frame, outperforming the S&P 500.

Will the recent negative trend continue leading up to its next earnings release, or is Invitation Home due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.

Invitation Homes' Q4 FFO Meets Estimates, Revenues Top, Rents Rise Y/Y

Invitation Homes reported a fourth-quarter 2025 core FFO per share of 48 cents, meeting the Zacks Consensus Estimate. This compared favorably with the FFO per share of 47 cents a year ago.

The results reflected higher same-store NOI and same-store blended rent. However, lower occupancy marred the performance to an extent.

Total revenues of $685.3 million surpassed the Zacks Consensus Estimate of $677.1 million. The figure also improved 4% year over year.

Quarter in Detail

During the fourth quarter, Invitation Homes’ same-store core revenues grew 1.7%, and same-store core operating expenses increased 4% year over year. As a result, same-store NOI improved only 0.7% year over year.

Invitation Homes witnessed yearly same-store renewal rent growth of 4.2% and a same-store new lease rent decrease of 4.1%, resulting in same-store blended rent growth of 1.8%.

Same-store average occupancy was 95.9%, down 90 basis points year over year.

Portfolio Activity

In the fourth quarter of 2025, the company acquired 368 wholly owned homes for around $123 million and 122 homes in its joint ventures for around $41 million.

During the same period, the company disposed of 315 wholly owned homes for gross proceeds amounting to around $138 million and 13 homes in its joint venture for gross proceeds of $6 million.

In January 2026, Invitation Homes acquired Resibuilt Homes, a leading build-to-rent developer in the high-growth Southeastern markets. The company acquired Resibuilt for a contract price of $89 million and up to $7.5 million in potential incentive-based earn-out payments linked to third-party fee-build performance.

Balance Sheet

Invitation Homes exited the fourth quarter of 2025 with total liquidity of $1.74 billion, including unrestricted cash and undrawn capacity on its revolving credit facility.

Secured and unsecured debt aggregated $8.46 billion as of Dec. 31, 2025, and its Net Debt/TTM adjusted EBITDAre was 5.3X.

2026 Guidance

Invitation Homes provided its initial 2026 outlook.

It expects core FFO per share between $1.90 and $1.98, with a midpoint of $1.94. The full-year guidance is based on the assumption of 1.30% to 2.50% growth in same-store revenues and a 3-4% increase in same-store expenses. Same-store NOI is projected to rise 0.30% to 2%.

How Have Estimates Been Moving Since Then?

Investors have witnessed a downward trend in estimates review over the past two months.

VGM Scores

At this time, Invitation Home has a poor Growth Score of F, however its Momentum Score is doing a bit better with a D. Following the exact same course, the stock has a score of D on the value side, putting it in the bottom 40% for value investors.

Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.

Outlook

Invitation Home has a Zacks Rank #4 (Sell). We expect a below average return from the stock in the next few months.