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invitation homes NEWS RELEASE Invitation Homes Reports Third Quarter 2021 Results 10/27/2021 DALLAS -- ( BUSINESS WIRE ) -- Invitation Homes Inc. ( NYSE : INVH ) ( " Invitation Homes " or the " Company " ) , the nation's premier single - family home leasing company , today announced its Q3 2021 financial and operating results . Third Quarter 2021 Highlights • Year over year , total revenues increased 11.0 % to $ 510 million , and property operating and maintenance costs increased 3.6 % to $ 184 million . • Net income available to common stockholders totaled $ 69 million or $ 0.12 per diluted common share . • Year over year , Core FFO per share increased 27.0 % to $ 0.38 , and AFFO per share increased 32.7 % to $ 0.32 . • Same Store NOI grew 11.9 % year over year on 7.9 % Same Store Core Revenues growth and 0.6 % Same Store Core Operating Expenses growth . • Same Store Average Occupancy was 98.1 % , up 30 basis points year over year . • Same Store new lease rent growth of 18.4 % and Same Store renewal rent growth of 7.8 % drove Same Store blended rent growth of 10.6 % , up 660 basis points year over year . • Revenue collections were approximately 98 % of the Company's historical average collection rate . Bad debt as a percentage of gross rental revenue decreased from 2.0 % in 3Q 2020 to 1.0 % in 3Q 2021 . • The Company accelerated its acquisition pace in 3Q 2021. Acquisitions by the Company and the Company's joint ventures totaled 1,684 homes for $ 722 million while dispositions totaled 161 homes for $ 57 million . • The Company issued and sold 17,451,969 shares of common stock for net proceeds of $ 693 million . Subsequent to quarter end , in October 2021 , the Company sold an additional 1,875,000 shares pursuant to the underwriters ' full exercise of the option to purchase additional shares , generating net proceeds of $ 75 million . The proceeds from these issuances were and will be used primarily for general corporate purposes , including acquisitions . • As previously announced in August 2021 , the Company closed its first public bond offering of $ 650 million 1