Invitation Homes (NYSE:INVH) Releases FY24 Earnings Guidance

Invitation Homes (NYSE:INVH) issued an update on its FY24 earnings guidance on Wednesday morning. 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

Several equities analysts have recently commented on the stock. Mizuho lowered their price target on shares of Invitation Homes from $37.00 to $36.00 and set a neutral rating for the company in a research report on Monday, June 3rd. Keefe, Bruyette & Woods reiterated a market perform rating and issued a $38.00 target price on shares of Invitation Homes in a research report on Monday, June 17th. Evercore ISI increased their target price on shares of Invitation Homes from $36.00 to $37.00 and gave the company an in-line rating in a research report on Tuesday, July 9th. Barclays decreased their target price on shares of Invitation Homes from $41.00 to $40.00 and set an overweight rating for the company in a research report on Wednesday, May 29th. Finally, JPMorgan Chase & Co. increased their target price on shares of Invitation Homes from $35.00 to $36.00 and gave the company a neutral rating in a research report on Monday, June 17th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $38.39.

Invitation Homes Trading Down 1.4 %

INVH stock traded down $0.52 during mid-day trading on Wednesday, reaching $35.97. 3,493,211 shares of the stock traded hands, compared to its average volume of 3,144,768. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.53. Invitation Homes has a 52-week low of $28.49 and a 52-week high of $36.92. The company has a market cap of $22.03 billion, a P/E ratio of 42.05, a P/E/G ratio of 2.23 and a beta of 0.99. The stock’s fifty day moving average is $35.37 and its 200-day moving average is $34.51.

Invitation Homes (NYSE:INVH) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.22). Invitation Homes had a net margin of 21.75% and a return on equity of 5.29%. The firm had revenue of $646.04 million for the quarter, compared to analysts’ expectations of $630.97 million. As a group, sell-side analysts expect that Invitation Homes will post 1.83 earnings per share for the current year.

Invitation Homes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Thursday, June 27th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date was Thursday, June 27th. Invitation Homes’s dividend payout ratio (DPR) is 128.74%.

Insider Transactions at Invitation Homes

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