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

Invitation Homes (NYSE:INVH) issued an update on its FY 2024 earnings guidance on Wednesday morning. 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

A number of brokerages have recently issued reports on INVH. Barclays reduced their price objective on shares of Invitation Homes from $41.00 to $40.00 and set an overweight rating for the company in a research note on Wednesday, May 29th. Keefe, Bruyette & Woods reaffirmed a market perform rating and issued a $38.00 price objective on shares of Invitation Homes in a research note on Monday, June 17th. Scotiabank lifted their target price on Invitation Homes from $36.00 to $38.00 and gave the company a sector perform rating in a research note on Thursday, May 16th. Royal Bank of Canada dropped their price target on Invitation Homes from $39.00 to $37.00 and set an outperform rating for the company in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Invitation Homes from a hold rating to a buy rating and lifted their price objective for the company from $35.00 to $41.00 in a research report on Wednesday. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $38.44.

Invitation Homes Trading Up 2.6 %

Invitation Homes stock traded up $0.87 during midday trading on Friday, reaching $34.07. The stock had a trading volume of 7,097,638 shares, compared to its average volume of 3,737,952. Invitation Homes has a 52-week low of $28.49 and a 52-week high of $36.92. The company has a fifty day moving average of $35.30 and a 200 day moving average of $34.51. The firm has a market cap of $20.87 billion, a price-to-earnings ratio of 39.16, a price-to-earnings-growth ratio of 2.04 and a beta of 0.99. The company has a quick ratio of 0.21, a current ratio of 0.20 and a debt-to-equity ratio of 0.54.

Invitation Homes (NYSE:INVH) last issued its quarterly 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 4.68% and a net margin of 18.75%. The business had revenue of $646.04 million for the quarter, compared to the consensus estimate of $630.97 million. On average, analysts anticipate that Invitation Homes will post 1.83 earnings per share for the current fiscal year.

Invitation Homes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Thursday, June 27th were given a $0.28 dividend. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $1.12 annualized dividend and a yield of 3.29%. Invitation Homes’s dividend payout ratio (DPR) is 128.74%.

Insider Transactions at Invitation Homes

In other Invitation Homes news, Director Cohen Jana Barbe sold 7,200 shares of the firm’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $34.58, for a total transaction of $248,976.00. Following 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 is available at the SEC website. In other news, Director Cohen Jana Barbe sold 7,200 shares of the firm’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 sale, the director now directly owns 28,068 shares in the company, valued at approximately $970,591.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Charles D. Young sold 5,000 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was 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 in the company, valued at $9,594,065.60. The disclosure for this sale can be found here. Corporate 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.