What is Invitation Homes's phoenix — encumbrances?

Invitation Homes (INVH) reported phoenix — encumbrances of $184.16M in Q4 2025.

How has Invitation Homes's phoenix — encumbrances changed year-over-year?

Invitation Homes's phoenix — encumbrances decreased by 1.6% year-over-year, from $187.08M to $184.16M.

What does phoenix — encumbrances mean?

The total financial obligations or liens attached to the real estate assets within the Phoenix market. This represents the extent to which the regional portfolio is leveraged through secured debt instruments.

Invitation Homes INVH Phoenix — Encumbrances

Other geography segments

Atlanta

$173.42M+0.9%

Southern California

$171.49M-0.2%

Tampa

$148.57M-4.9%

Orlando

$125.19M-0.3%

Northern California

$119.29M+0.8%

South Florida

$118.78M-0.1%

Carolinas

$81.64M+1.1%

Denver

$67.93M+3.6%

Dallas

$58.99M+0.4%

Jacksonville

$41.28M0.0%

Las Vegas

$38.41M+0.8%

Seattle

$34.29M+2.8%

Houston

$24.33M+1.0%

Minneapolis

$632K+5.5%

Chicago

$0—

Nashville

$0—

Salt Lake City

$0—

Similar metrics at other companies

PSAPhoenix — Encumbrances

$0—

PSAPhiladelphia — Encumbrances

$0—

PSAPortland — Encumbrances

$0—

OFinancial Services — Encumbrances

$0—

PSALas Vegas — Encumbrances

$0—

PSABoston — Encumbrances

$0—

Other financials

Income statement

See full

Revenue$734.1M+8.8%

Net income$160.5M-3.2%

EPS (diluted)$0.26-3.7%

Balance sheet

See full

Cash & equivalents$373.0M+17.1%

Total debt$9.8B+21.0%

Total equity$9.1B-6.5%

Total assets$18.7B+0.7%

Cash flow

See full

Operating cash flow$293.0M-2.5%

CapEx$6.3M-19.4%

Free cash flow$122.4M-2.1%

Valuation

See full

Market cap$18.07B-8.9%

Enterprise value$27.54B-0.8%

P/E31×-5.4×

P/S6.5×-0.9×

Profitability

See full

Operating margin15.5%—

Net margin20.9%+2.9pp

FCF margin43.2%+3.0pp

Returns & leverage

See full

Return on equity6.2%+1.4pp

Debt / equity1.1×+0.2×

Where this comes from

Reported directly by Invitation Homes in its filing.

Tagged under the XBRL concept srt:RealEstateAndAccumulatedDepreciationAmountOfEncumbrances.

The official record: Invitation Homes’s 10-K, filed February 19, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Invitation Homes's phoenix — encumbrances?: Invitation Homes (INVH) reported phoenix — encumbrances of $184.16M in Q4 2025.
How has Invitation Homes's phoenix — encumbrances changed year-over-year?: Invitation Homes's phoenix — encumbrances decreased by 1.6% year-over-year, from $187.08M to $184.16M.
What does phoenix — encumbrances mean?: The total financial obligations or liens attached to the real estate assets within the Phoenix market. This represents the extent to which the regional portfolio is leveraged through secured debt instruments.