Subtext

Invitation Homes Inc. INVH

SectorReal Estate
Transcripts21
Date range2020-05-09 – 2025-05-01
Calls charted21

Sentiment timeline

Net Loughran-McDonald sentiment per call (×1000), earliest → latest.

-13-7+0+7+132020 Q12020 Q42021 Q32022 Q22023 Q12023 Q42024 Q32020 Q1 · Overall: +4.82020 Q2 · Overall: +6.32020 Q3 · Overall: +5.62020 Q4 · Overall: +11.32021 Q1 · Overall: +11.72021 Q2 · Overall: +9.52021 Q3 · Overall: +6.32021 Q4 · Overall: +9.02022 Q1 · Overall: +5.82022 Q2 · Overall: +2.42022 Q3 · Overall: -0.82022 Q4 · Overall: +3.62023 Q1 · Overall: +7.32023 Q2 · Overall: +10.72023 Q3 · Overall: +5.82023 Q4 · Overall: +5.92024 Q1 · Overall: -3.42024 Q2 · Overall: +1.82024 Q3 · Overall: +5.82024 Q4 · Overall: +11.02025 Q1 · Overall: +7.8
Overall

CEO vs CFO

Average sentiment of each executive's remarks per call. Divergence is a signal.

-24-12+0+12+242020 Q12020 Q42021 Q32022 Q22023 Q12023 Q42024 Q32020 Q1 · CEO: +10.62020 Q2 · CEO: +15.52020 Q3 · CEO: +12.32020 Q4 · CEO: +19.12021 Q1 · CEO: +20.82021 Q2 · CEO: +15.12021 Q3 · CEO: +7.82021 Q4 · CEO: +9.32022 Q1 · CEO: +15.32022 Q2 · CEO: +14.12022 Q3 · CEO: +13.62022 Q4 · CEO: +11.32023 Q1 · CEO: +19.22023 Q2 · CEO: +19.12023 Q3 · CEO: +11.32023 Q4 · CEO: +19.92024 Q1 · CEO: +9.12024 Q2 · CEO: +10.12024 Q3 · CEO: +11.12024 Q4 · CEO: +19.22025 Q1 · CEO: +13.42020 Q1 · CFO: +7.22020 Q2 · CFO: +6.82020 Q3 · CFO: +5.22020 Q4 · CFO: +6.12021 Q1 · CFO: +14.42021 Q2 · CFO: +6.42021 Q3 · CFO: +9.42021 Q4 · CFO: +8.72022 Q1 · CFO: +1.32022 Q2 · CFO: +2.62022 Q3 · CFO: -2.32022 Q4 · CFO: +4.02023 Q1 · CFO: +5.42023 Q2 · CFO: +11.62023 Q3 · CFO: +1.12023 Q4 · CFO: +7.62024 Q1 · CFO: +7.82024 Q2 · CFO: +4.32024 Q3 · CFO: +11.42024 Q4 · CFO: +15.32025 Q1 · CFO: +12.9
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-42-21+0+21+422020 Q12020 Q42021 Q32022 Q22023 Q12023 Q42024 Q32020 Q1 · Prepared remarks: +11.02020 Q2 · Prepared remarks: +10.82020 Q3 · Prepared remarks: +10.72020 Q4 · Prepared remarks: +20.12021 Q1 · Prepared remarks: +26.32021 Q2 · Prepared remarks: +22.72021 Q3 · Prepared remarks: +16.32021 Q4 · Prepared remarks: +20.32022 Q1 · Prepared remarks: +21.12022 Q2 · Prepared remarks: +13.72022 Q3 · Prepared remarks: +5.22022 Q4 · Prepared remarks: +8.42023 Q1 · Prepared remarks: +23.12023 Q2 · Prepared remarks: +24.92023 Q3 · Prepared remarks: +17.32023 Q4 · Prepared remarks: +17.82024 Q1 · Prepared remarks: +36.62024 Q2 · Prepared remarks: +9.12024 Q3 · Prepared remarks: +17.62024 Q4 · Prepared remarks: +21.62025 Q1 · Prepared remarks: +21.12020 Q1 · Q&A responses: +5.12020 Q2 · Q&A responses: +9.72020 Q3 · Q&A responses: +7.82020 Q4 · Q&A responses: +9.62021 Q1 · Q&A responses: +11.82021 Q2 · Q&A responses: +9.42021 Q3 · Q&A responses: +6.22021 Q4 · Q&A responses: +7.52022 Q1 · Q&A responses: +6.12022 Q2 · Q&A responses: +3.02022 Q3 · Q&A responses: +2.42022 Q4 · Q&A responses: +3.62023 Q1 · Q&A responses: +7.02023 Q2 · Q&A responses: +9.82023 Q3 · Q&A responses: +7.02023 Q4 · Q&A responses: +9.82024 Q1 · Q&A responses: +2.12024 Q2 · Q&A responses: +2.12024 Q3 · Q&A responses: +6.02024 Q4 · Q&A responses: +13.02025 Q1 · Q&A responses: +9.6
Prepared remarksQ&A responses

Tone vs forward expectations

Management tone next to Wall Street's forward-looking numbers (glopardo): the 12-month forward EPS estimate and the forward P/E per call.

Forward EPS estimate

$0.19$0.50$0.822020 Q12020 Q42021 Q32022 Q22023 Q12023 Q42024 Q32020 Q1: $0.252020 Q2: $0.232020 Q3: $0.282020 Q4: $0.292021 Q1: $0.312021 Q2: $0.372021 Q3: $0.462021 Q4: $0.562022 Q1: $0.642022 Q2: $0.662022 Q3: $0.732022 Q4: $0.702023 Q1: $0.682023 Q2: $0.712023 Q3: $0.782023 Q4: $0.722024 Q1: $0.742024 Q2: $0.772024 Q3: $0.75

Forward P/E

37.7583.79129.832020 Q12020 Q42021 Q32022 Q22023 Q12023 Q42024 Q32020 Q1: 77.202020 Q2: 123.482020 Q3: 104.252020 Q4: 100.662021 Q1: 99.972021 Q2: 100.412021 Q3: 88.312021 Q4: 76.542022 Q1: 62.432022 Q2: 52.272022 Q3: 52.522022 Q4: 45.732023 Q1: 46.612023 Q2: 47.612023 Q3: 44.102023 Q4: 48.402024 Q1: 47.592024 Q2: 46.402024 Q3: 47.65

Divergence watch ⚑

Quarters where tone and the forward EPS estimate moved opposite ways.

  • 2021 Q2 tone ↓ -2.2 fwd EPS ↑ +0.06 Tone cooled even as the forward EPS estimate rose.
  • 2021 Q3 tone ↓ -3.2 fwd EPS ↑ +0.09 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q1 tone ↓ -3.3 fwd EPS ↑ +0.08 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q2 tone ↓ -3.4 fwd EPS ↑ +0.02 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q3 tone ↓ -3.1 fwd EPS ↑ +0.07 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q4 tone ↑ +4.4 fwd EPS ↓ -0.03 Tone rose while the forward EPS estimate was cut.
  • 2023 Q1 tone ↑ +3.7 fwd EPS ↓ -0.02 Tone rose while the forward EPS estimate was cut.
  • 2023 Q3 tone ↓ -4.9 fwd EPS ↑ +0.06 Tone cooled even as the forward EPS estimate rose.
  • 2024 Q1 tone ↓ -9.3 fwd EPS ↑ +0.02 Tone cooled even as the forward EPS estimate rose.
  • 2024 Q3 tone ↑ +3.9 fwd EPS ↓ -0.02 Tone rose while the forward EPS estimate was cut.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q12025-05-01+7.8——View →
2024 Q42025-02-27+11.0——View →
2024 Q32024-10-31+5.8$0.7547.6View →
2024 Q22024-07-25+1.8$0.7746.4View →
2024 Q12024-05-01-3.4$0.7447.6View →
2023 Q42024-02-14+5.9$0.7248.4View →
2023 Q32023-10-26+5.8$0.7844.1View →
2023 Q22023-07-27+10.7$0.7147.6View →