Invitation Homes Inc. 10-K

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”) under the symbol “INVH.” Holders As of February 20, 2023, there were 46 holders of record of 611,411,460 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 income tax purposes, dividends paid to holders of common stock primarily consist of ordinary income, capital gains, qualified dividends, unrecaptured Section 1250 gains, and return of capital, or a combination thereof. For the years ended December 31, 2022 and 2021, dividends per share held for the entire year were estimated to be taxable as follows: 2022 2021 Amount (1) Percentage Amount (1) Percentage Ordinary income (2) $ 0.69 78.7 % $ 0.51 74.5 % Capital gains (3)(4)(5) 0.16 18.1 % 0.15 21.8 % Qualified dividends — — % — — % Unrecaptured Section 1250 gain (3)(4)(5) 0.03 3.2 % 0.02 3.7 % Return of capital — — % — — % Total $ 0.88 100.0 % $ 0.68 100.0 % (1) Amounts are displayed in actual dollars per share; all section references are to the Code. (2) Ordinary income dividends are treated as “qualified REIT dividends” for purposes of Section 199A. (3) Approximately 2.87% of the aggregate amounts allocated in 2022 as capital gains and unrecaptured Section 1250 gain represents One Year Disclosure Amounts and Three Year Disclosure Amounts for purposes of Section 1061. (4) Approximately 97.13% of the aggregate amounts allocated in 2022 as capital gain and unrecaptured Section 1250 gain represents a disposition of a United States real property interest pursuant to Section 897. (5) 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 TCJA, Pub. L. No. 115-97, §13001(b). 51 Stock Performance Graph The following graph shows the total stockholder return of an investment of $100 cash on December 31, 2017 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. Cumulative Total Returns as of December 31, 2017 December 31, 2018 December 31, 2019 December 31, 2020 December 31, 2021 December 31, 2022 Invitation Homes Inc. 100.00 86.90 132.33 133.90 208.33 139.49 S&P 500 Index 100.00 95.62 125.72 148.85 191.58 156.88 MSCI US REIT Index 100.00 95.43 120.09 110.99 158.79 119.87 Repurchases of Equity Securities We made no repurchases of our common stock during the three months ended December 31, 2022. ITEM 6. RESERVED 52