Invitation Homes (NYSE:INVH) Issues FY24 Earnings Guidance

Invitation Homes (NYSE:INVH) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $1.84-$1.90 for the period, compared to the consensus estimate of $1.88. Invitation Homes also updated its FY 2024 guidance to 1.840-1.900 EPS.

Analyst Ratings Changes

INVH has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price objective on Invitation Homes from $35.00 to $36.00 and gave the stock a neutral rating in a report on Monday, June 17th. Royal Bank of Canada decreased their price objective on Invitation Homes from $39.00 to $37.00 and set an outperform rating for the company in a research report on Friday. Scotiabank boosted their target price on Invitation Homes from $36.00 to $38.00 and gave the company a sector perform rating in a research note on Thursday, May 16th. Keefe, Bruyette & Woods reiterated a market perform rating and set a $38.00 price objective on shares of Invitation Homes in a research note on Monday, June 17th. Finally, Deutsche Bank Aktiengesellschaft upgraded Invitation Homes from a hold rating to a buy rating and upped their price objective for the stock from $35.00 to $41.00 in a research note on Wednesday. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Invitation Homes presently has a consensus rating of Moderate Buy and an average price target of $38.44.

Invitation Homes Stock Up 2.4 %

Invitation Homes stock traded up $0.80 during mid-day trading on Friday, reaching $34.00. The stock had a trading volume of 4,092,913 shares, compared to its average volume of 3,216,053. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.21 and a current ratio of 0.21. Invitation Homes has a fifty-two week low of $28.49 and a fifty-two week high of $36.92. The stock’s 50-day simple moving average is $35.33 and its 200-day simple moving average is $34.51. The firm has a market capitalization of $20.83 billion, a PE ratio of 38.92, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99.

Invitation Homes (NYSE:INVH) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.22). The business had revenue of $646.04 million for the quarter, compared to the consensus estimate of $630.97 million. Invitation Homes had a return on equity of 4.67% and a net margin of 18.75%. On average, sell-side analysts forecast that Invitation Homes will post 1.83 EPS for the current fiscal year.

Invitation Homes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Thursday, June 27th were paid a $0.28 dividend. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $1.12 annualized dividend and a dividend yield of 3.29%. Invitation Homes’s payout ratio is presently 128.74%.

Insider Activity at Invitation Homes

In other Invitation Homes news, Director Cohen Jana Barbe sold 7,200 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $34.58, for a total value of $248,976.00. Following the transaction, the director now directly owns 28,068 shares in the company, valued at approximately $970,591.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Invitation Homes news, COO Charles D. Young sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $34.85, for a total transaction of $174,250.00. Following the sale, the chief operating officer now directly owns 275,296 shares of the company’s stock, valued at $9,594,065.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Cohen Jana Barbe sold 7,200 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $34.58, for a total value of $248,976.00. Following the sale, the director now owns 28,068 shares of the company’s stock, valued at approximately $970,591.44. The disclosure for this sale can be found here. 0.28% of the stock is currently owned by corporate insiders.

About Invitation Homes

Invitation Homes, an S&P 500 company, is the nation's premier single-family home leasing and management company, meeting changing lifestyle demands by providing access to high-quality, updated homes with valued features such as close proximity to jobs and access to good schools. The company's mission, Together with you, we make a house a home, reflects its commitment to providing homes where individuals and families can thrive and high-touch service that continuously enhances residents' living experiences.