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Invitation Homes Provides Preliminary Assessment of Hurricane Ian Impact
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Rhea-AI Summary
Invitation Homes (NYSE: INVH) has reported a preliminary assessment of Hurricane Ian's impact on its properties in Florida. The Company has identified limited damage across the Tampa, Orlando, and Jacksonville markets. Importantly, there have been no reported injuries among residents or associates. Invitation Homes is covered by insurance for wind and flood damages, subject to specific deductibles. The Company has also partnered with the American Red Cross for hurricane relief donations, demonstrating a commitment to community support.
Positive
Limited damage identified at properties in Florida.
No reported injuries among residents or associates.
Partnership with American Red Cross for relief efforts.
Negative
None.
DALLAS--(BUSINESS WIRE)--
Invitation Homes Inc. (NYSE: INVH) ("Invitation Homes" or the "Company") today announced a preliminary assessment of the impact of Hurricane Ian on its homes and communities in Florida. While the Company’s evaluation of the storm’s impact remains ongoing, the Company has identified limited damage to date at its homes in the Tampa, Orlando and Jacksonville markets. Invitation Homes carries insurance for wind damage, flood damage, and business interruption, subject to deductibles and limits.
“Our number one priority is the safety of our residents and associates, and we are very fortunate that there have been no reported injuries at this time,” said Dallas Tanner, Invitation Homes’ President and CEO. “I am so thankful for all of our teams who have been working around the clock in responding to resident and associate needs with genuine care. Our thoughts and prayers are with all who have been affected by this storm.”
The Company has partnered with the American Red Cross for hurricane relief donations with a matching corporate contribution.
About Invitation Homes:
Invitation Homes, an S&P 500 company, is the nation's premier single-family home leasing company, meeting changing lifestyle demands by providing access to high-quality, updated homes with valued features such as close proximity to jobs and access to good schools. The company's mission, "Together with you, we make a house a home," reflects its commitment to providing homes where individuals and families can thrive and high-touch service that continuously enhances residents' living experiences.
Forward Looking Statements:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), which include, but are not limited to, statements related to the Company's expectations regarding the performance of the Company's business, its financial results, its liquidity and capital resources, and other non-historical statements. In some cases, you can identify these forward-looking statements by the use of words such as “outlook,” “guidance,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “could,” “seeks,” “projects,” “predicts,” “intends,” “plans,” “estimates,” “anticipates,” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties, including, among others, risks inherent to the single-family rental industry and the Company's business model, macroeconomic factors beyond the Company's control, competition in identifying and acquiring properties, competition in the leasing market for quality residents, increasing property taxes, homeowners’ association and insurance costs, the Company's dependence on third parties for key services, risks related to the evaluation of properties, poor resident selection and defaults and non-renewals by the Company's residents, performance of the Company's information technology systems, risks related to the Company's indebtedness, and risks related to the potential negative impact of unfavorable global and United States economic conditions (including inflation and interest rates), uncertainty in financial markets, geopolitical tensions, natural disasters, climate change, and public health crises, including the ongoing COVID-19 pandemic, on the Company’s financial condition, results of operations, cash flows, business, associates, and residents. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. The Company believes these factors include, but are not limited to, those described under Part I. Item 1A. “Risk Factors” of the Annual Report on Form 10-K for the year ended December 31, 2021, as such factors may be updated from time to time in the Company's periodic filings with the Securities and Exchange Commission (the "SEC"), which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release and in the Company's other periodic filings. The forward-looking statements speak only as of the date of this press release, and the Company expressly disclaims any obligation or undertaking to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except to the extent otherwise required by law.
