DALLAS - Invitation Homes Inc . (NYSE: NYSE:INVH), a leading company in the single-family home leasing and management sector, has announced an increase in its regular quarterly cash dividend. The declared dividend of $0.29 per share marks a 3.6% rise from the previous quarter's dividend of $0.28 per share. According to InvestingPro data, this continues the company's impressive track record of raising dividends for 7 consecutive years, with the current yield standing at 3.38%.
Stockholders of record as of the close of business on December 26, 2024, will be eligible for the dividend, which is scheduled for payment on or before January 17, 2025. This increment reflects the company's ongoing commitment to delivering shareholder value.
Invitation Homes, a constituent of the S&P 500 index, specializes in providing high-quality, updated homes that cater to the evolving lifestyle needs of its customers. The company prides itself on offering properties that are conveniently located near employment centers and reputable schools. The corporate mission emphasizes its dedication to transforming houses into homes where individuals and families can prosper, supported by attentive customer service that aims to enhance the living experience for residents continuously.
This announcement is based on a press release statement from Invitation Homes Inc. and underscores the company's financial stewardship and strategic approach to managing its portfolio of single-family homes. As the company continues to navigate the housing market, this dividend increase serves as an indicator of its financial health and optimistic outlook. InvestingPro analysis suggests the stock is currently slightly overvalued, with additional insights available in the comprehensive Pro Research Report, which offers deep-dive analysis of this and 1,400+ other US stocks.
Investors and stakeholders may view this development as a positive signal of the company's performance and management's confidence in its financial stability and prospects for growth. Invitation Homes remains focused on maintaining its position as a premier entity in the single-family home leasing industry.
In other recent news, Invitation Homes Inc. reported a robust financial performance in its Q3 2024 earnings call. The company's core funds from operations (FFO) and adjusted funds from operations (AFFO) per share increased to $0.47 and $0.38 respectively, indicating year-over-year growth. Occupancy rates averaged 97% in Q3, although there was a slight decrease in October. Furthermore, Invitation Homes is expanding its management services, managing over 25,000 homes. The company expects a significant 65% drop in new Build-to-Rent deliveries next year. Full-year 2024 guidance for core FFO and AFFO per share was raised to $1.88 and $1.59. The company's executives remain optimistic about the future, supported by favorable demographic trends and a strong demand for rental housing. Despite some regional supply pressures, the overall outlook for Invitation Homes remains positive as they continue to adapt to market conditions and capitalize on opportunities for acquisition and management expansion.
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