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

Invitation Homes (NYSE:INVH) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 1.840-1.900 for the period, compared to the consensus earnings per share estimate of 1.880. The company issued revenue guidance of -. Invitation Homes also updated its FY24 guidance to $1.84-$1.90 EPS.

Analysts Set New Price Targets

Several research analysts have weighed in on INVH shares. JPMorgan Chase & Co. increased their target price on shares of Invitation Homes from $35.00 to $36.00 and gave the stock a neutral rating in a research note on Monday, June 17th. Evercore ISI increased their target price on shares of Invitation Homes from $36.00 to $37.00 and gave the stock an in-line rating in a research note on Tuesday, July 9th. Scotiabank increased their target price on shares of Invitation Homes from $36.00 to $38.00 and gave the stock a sector perform rating in a research note on Thursday, May 16th. Keefe, Bruyette & Woods reissued a market perform rating and issued a $38.00 price objective on shares of Invitation Homes in a research note on Monday, June 17th. Finally, Raymond James raised their price objective on shares of Invitation Homes from $37.00 to $39.00 and gave the company an outperform rating in a research note on Thursday, March 28th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Invitation Homes currently has a consensus rating of Moderate Buy and an average target price of $38.39.

Invitation Homes Stock Performance

NYSE:INVH traded down $2.76 during midday trading on Thursday, reaching $33.21. The stock had a trading volume of 12,325,714 shares, compared to its average volume of 3,210,865. The firm has a fifty day simple moving average of $35.37 and a two-hundred day simple moving average of $34.52. Invitation Homes has a 12-month low of $28.49 and a 12-month high of $36.92. The company has a quick ratio of 0.21, a current ratio of 0.21 and a debt-to-equity ratio of 0.53. The stock has a market cap of $20.34 billion, a P/E ratio of 38.30, a P/E/G ratio of 2.24 and a beta of 0.99.

Invitation Homes (NYSE:INVH) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.23 earnings per share 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 during the quarter, compared to analysts’ expectations of $630.97 million. On average, equities analysts expect that Invitation Homes will post 1.83 EPS for the current year.

Invitation Homes Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Thursday, June 27th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $1.12 annualized dividend and a dividend yield of 3.37%. Invitation Homes’s payout ratio is currently 128.74%.

Insiders Place Their Bets

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

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.