Invitation Homes Inc. raised its full-year earnings outlook, following an update on May results. The single-family home leasing company now expects core funds from operation of $1.38 to $1.46, up from a previous guidance range of $1.34 to $1.42, and surrounding the FactSet consensus of $1.41. The company said same-store new lease rate growth was 14.1%, up from 10.8% in April, while same-store renewal growth rate of 5.9% was an improvement from April’s 5.5% growth. Same-store average occupancy was 98.3%. The stock, which was still inactive in premarket trading, has rallied 24.3% year to date, while the S&P 500 has gained 12.6%.
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