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Item 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS, AND ISSUER PURCHASES OF EQUITY SECURITIES

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Item 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS, AND ISSUER PURCHASES OF EQUITY SECURITIES

Market Information

Our common stock is listed on the New York Stock Exchange (NYSE) and NYSE Texas, Inc. under the symbol “INVH.”

Holders

As of February 18, 2026, there were 41 holders of record of 609,386,093 shares of common stock outstanding. This does not include the number of stockholders who hold shares of our common stock through banks, brokers, and other financial institutions.

Dividends

We have elected to qualify as a REIT for United States federal income tax purposes. The Code generally requires that a REIT annually distribute at least 90% of its REIT taxable income, determined without regard to the deduction for dividends paid and excluding any net capital gain, and imposes tax on any REIT taxable income retained by a REIT, including capital gains. We intend to pay quarterly dividends to our stockholders that in the aggregate are approximately equal to or exceed our net taxable income in the relevant year. The timing, form, and amount of distributions, if any, to our stockholders, will be at the sole discretion of our board of directors.

For the years ended December 31, 2025 and 2024, dividends per share held for the entire year were estimated to be taxable as follows:

20252024
Amount**(1)**PercentageAmount**(1)**Percentage
Ordinary income$0.9480.3%$0.8070.8%
Capital gains(2)0.1815.4%0.2623.0%
Unrecaptured Section 1250(2)0.054.3%0.076.2%
Total$1.17100.0%$1.13100.0%

(1)Amounts are displayed in actual dollars per share; all section references are to the Code unless otherwise specified. Pursuant to Section 857(b)(9), cash dividends paid in January with a record date in December of the prior year are treated as received by stockholders in the prior year to the extent of the Company’s earnings and profits. For a complete understanding of dividend taxability, stockholders must consult their Form 1099-DIV or speak with their tax advisor.

(2)Capital gains and unrecaptured Section 1250 gain are designated as a capital gain dividend in accordance with Section 857(b)(3)(B), as redesignated by the Tax Cuts and Jobs Act, Pub. L. No. 115-97, §13001(b).

Stock Performance Graph

The following graph shows the total stockholder return of an investment of $100 cash on December 31, 2020 for (1) our common stock, (2) the S&P 500 Total Return Index, and (3) the MSCI US REIT (RMS) Total Return Index. All values assume reinvestment of the full amount of all dividends. Stockholder returns over the indicated period are based on historical data and are not necessarily indicative of future stockholder returns.

2391

Cumulative Total Returns as of
December 31, 2020December 31, 2021December 31, 2022December 31, 2023December 31, 2024December 31, 2025
Invitation Homes Inc.100.00155.58104.17124.71120.81109.12
S&P 500 Index100.00128.71105.40133.10166.40196.16
MSCI US REIT Index100.00143.06108.00122.84133.59137.53

Repurchases of Equity Securities

We made the following share repurchases during the three months ended December 31, 2025:

PeriodTotal Number of Shares PurchasedAverage Price Paid Per Share**(1)**Total Number of Shares Purchased as Part of Publicly Announced Plan or ProgramApproximate Dollar Value of Shares that May Yet be Purchased Under the Plan or Program**(2)** ($ in thousands)
October 1 — October 31, 2025—$——$500,000
November 1 — November 30, 2025———500,000
December 1 — December 31, 20252,232,68527.432,232,685438,765
Total2,232,685$27.432,232,685

(1)Average Price Paid Per Share excludes cash paid for legal fees and commissions.

(2)On October 28, 2025, our board of directors authorized a share repurchase program pursuant to which we may acquire shares of our common stock up to an aggregate purchase price of $500.0 million (the “Share Repurchase Program”) in the open market or negotiated transactions, including through Rule 10b5-1 plans. The Share Repurchase Program does not have an expiration date.

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