Invitation Homes (NYSE:INVH) Updates FY 2024 Earnings Guidance

Invitation Homes (NYSE:INVH) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 1.820-1.900 for the period, compared to the consensus EPS estimate of 1.870. The company issued revenue guidance of -. Invitation Homes also updated its FY24 guidance to $1.82-$1.90 EPS.

Invitation Homes Stock Down 1.1 %

INVH stock traded down $0.38 during midday trading on Tuesday, hitting $34.20. The company’s stock had a trading volume of 4,314,652 shares, compared to its average volume of 3,134,835. Invitation Homes has a 52-week low of $28.49 and a 52-week high of $36.53. The firm has a 50-day simple moving average of $34.42 and a 200-day simple moving average of $33.46. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $20.95 billion, a P/E ratio of 41.17, a PEG ratio of 2.05 and a beta of 0.94.

Invitation Homes (NYSE:INVH) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.23). Invitation Homes had a net margin of 21.34% and a return on equity of 5.06%. The company had revenue of $624.32 million during the quarter, compared to analysts’ expectations of $623.51 million. As a group, equities analysts forecast that Invitation Homes will post 1.83 EPS for the current year.

Invitation Homes Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend was Wednesday, March 27th. Invitation Homes’s dividend payout ratio (DPR) is 133.33%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on INVH shares. Royal Bank of Canada restated an outperform rating and issued a $36.00 target price on shares of Invitation Homes in a report on Thursday, February 15th. Raymond James raised their price objective on Invitation Homes from $37.00 to $39.00 and gave the stock an outperform rating in a report on Thursday, March 28th. Keefe, Bruyette & Woods reduced their target price on Invitation Homes from $38.00 to $37.00 and set a market perform rating for the company in a report on Tuesday, February 27th. JMP Securities restated a market outperform rating and set a $40.00 price target on shares of Invitation Homes in a research note on Thursday, March 7th. Finally, Oppenheimer boosted their price objective on Invitation Homes from $35.00 to $40.00 and gave the company an outperform rating in a research note on Friday, January 5th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $38.19.

Insider Buying and Selling

In related news, CFO Jonathan S. Olsen sold 10,000 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $34.75, for a total value of $347,500.00. Following the sale, the chief financial officer now directly owns 37,037 shares in the company, valued at approximately $1,287,035.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.28% of the stock is currently owned by insiders.

Invitation Homes Company Profile

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.