Zacks Investment Research Upgrades Invitation Home Inc. (INVH) to “Buy”
Invitation Home Inc. (NYSE:INVH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The firm presently has a $26.00 target price on the stock. Zacks Investment Research‘s target price indicates a potential upside of 13.54% from the stock’s previous close.
According to Zacks, “Invitation Homes Inc. provides real estate services. It focuses on owning, renovating, leasing and operating single-family residential properties primarily in the United States. Invitation Homes Inc. is headquartered in Dallas, Texas. “
Other equities research analysts have also issued reports about the stock. FBR & Co reissued a “buy” rating on shares of Invitation Home in a report on Saturday, May 13th. Evercore ISI began coverage on shares of Invitation Home in a report on Monday, June 5th. They set an “outperform” rating and a $24.00 target price on the stock. Royal Bank Of Canada reissued an “outperform” rating and set a $24.00 target price (up from $23.00) on shares of Invitation Home in a report on Tuesday, May 16th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $25.00 target price on shares of Invitation Home in a report on Friday, August 18th. Finally, Zelman & Associates raised shares of Invitation Home from a “hold” rating to a “buy” rating in a report on Friday, June 23rd. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $24.46.
Invitation Home (INVH) traded down 0.61% during midday trading on Wednesday, hitting $22.76. The stock had a trading volume of 185,653 shares. The stock’s 50 day moving average price is $21.87 and its 200-day moving average price is $21.59. The company’s market cap is $7.09 billion. Invitation Home has a 52 week low of $19.80 and a 52 week high of $23.56.
Invitation Home (NYSE:INVH) last posted its earnings results on Thursday, August 10th. The company reported $0.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.01. The business had revenue of $242.22 million for the quarter, compared to the consensus estimate of $240.58 million. Invitation Home’s revenue for the quarter was up 5.1% on a year-over-year basis. Equities research analysts predict that Invitation Home will post ($0.14) earnings per share for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of INVH. Salem Investment Counselors Inc. purchased a new position in shares of Invitation Home during the first quarter worth about $109,000. PNC Financial Services Group Inc. purchased a new position in shares of Invitation Home during the first quarter worth about $111,000. SG Americas Securities LLC purchased a new position in shares of Invitation Home during the first quarter worth about $112,000. State of Alaska Department of Revenue purchased a new position in shares of Invitation Home during the second quarter worth about $136,000. Finally, Meeder Asset Management Inc. purchased a new position in shares of Invitation Home during the second quarter worth about $157,000.
Invitation Home Company Profile
Invitation Homes Inc is a real estate investment trust. The Company owns and operates single-family homes for lease in the United States. The Company’s segment relates to acquiring, renovating, leasing and operating single-family homes as rental properties, including single-family homes in planned unit developments.
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