Invitation Homes (NYSE:INVH) Updates FY24 Earnings Guidance

Invitation Homes (NYSE:INVH) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $1.82-$1.90 for the period, compared to the consensus earnings per share estimate of $1.87.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Citigroup reissued a neutral rating and issued a $39.00 price objective on shares of Invitation Homes in a report on Friday, March 22nd. Raymond James lifted their price objective on shares of Invitation Homes from $37.00 to $39.00 and gave the company an outperform rating in a research report on Thursday, March 28th. Royal Bank of Canada reaffirmed an outperform rating and issued a $36.00 target price on shares of Invitation Homes in a report on Thursday, February 15th. Mizuho lifted their price target on Invitation Homes from $35.00 to $37.00 and gave the stock a neutral rating in a report on Wednesday, March 20th. Finally, BNP Paribas assumed coverage on Invitation Homes in a research report on Monday, January 22nd. They set an outperform rating and a $39.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $38.19.

Invitation Homes Stock Performance

Shares of INVH stock traded down $0.38 on Tuesday, hitting $34.20. The company’s stock had a trading volume of 4,314,653 shares, compared to its average volume of 3,134,224. Invitation Homes has a fifty-two week low of $28.49 and a fifty-two week high of $36.53. The company has a market capitalization of $20.95 billion, a PE ratio of 41.17, a PEG ratio of 2.05 and a beta of 0.94. The stock’s 50 day moving average is $34.42 and its 200-day moving average is $33.46. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.20 and a current ratio of 0.20.

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

Invitation Homes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Thursday, March 28th were given a dividend of $0.28 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.12 annualized dividend and a yield of 3.27%. Invitation Homes’s dividend payout ratio is currently 133.33%.

Insider Transactions at Invitation Homes

In other news, CFO Jonathan S. Olsen sold 10,000 shares of the 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 completion of the transaction, the chief financial officer now owns 37,037 shares of the company’s stock, valued at $1,287,035.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.28% of the stock is 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.