Invitation Homes (NYSE:INVH) Price Target Cut to $37.00

Invitation Homes (NYSE:INVH) had its price objective cut by analysts at Royal Bank of Canada from $39.00 to $37.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 8.79% from the stock’s previous close.

INVH has been the topic of a number of other reports. Raymond James increased their target price on Invitation Homes from $37.00 to $39.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Deutsche Bank Aktiengesellschaft upgraded Invitation Homes from a “hold” rating to a “buy” rating and raised their price objective for the company from $35.00 to $41.00 in a research note on Wednesday. Keefe, Bruyette & Woods restated a “market perform” rating and set a $38.00 price objective on shares of Invitation Homes in a research note on Monday, June 17th. Mizuho dropped their price objective on Invitation Homes from $37.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday, June 3rd. Finally, JPMorgan Chase & Co. raised their price objective on Invitation Homes from $35.00 to $36.00 and gave the company a “neutral” rating in a research note on Monday, June 17th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Invitation Homes presently has a consensus rating of “Moderate Buy” and an average target price of $38.44.

Invitation Homes Stock Up 2.4 %

Shares of INVH traded up $0.81 during trading hours on Friday, reaching $34.01. The stock had a trading volume of 438,552 shares, compared to its average volume of 3,191,607. Invitation Homes has a 12 month low of $28.49 and a 12 month high of $36.92. The firm has a 50-day simple moving average of $35.37 and a 200 day simple moving average of $34.52. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $20.83 billion, a price-to-earnings ratio of 39.09, a P/E/G ratio of 2.21 and a beta of 0.99.

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

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in INVH. BOK Financial Private Wealth Inc. purchased a new position in Invitation Homes during the 1st quarter valued at about $26,000. Family Firm Inc. bought a new stake in Invitation Homes in the 2nd quarter worth approximately $42,000. Creekmur Asset Management LLC bought a new stake in Invitation Homes in the 4th quarter worth approximately $46,000. Blue Trust Inc. lifted its position in Invitation Homes by 644.7% in the 2nd quarter. Blue Trust Inc. now owns 1,549 shares of the company’s stock worth $55,000 after buying an additional 1,341 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its position in Invitation Homes by 96.5% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,161 shares of the company’s stock worth $74,000 after buying an additional 1,061 shares during the last quarter. Hedge funds and other institutional investors own 96.79% of the company’s stock.

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.