Invitation Homes (NYSE:INVH) Rating Increased to Buy at Citigroup

Citigroup upgraded shares of Invitation Homes (NYSE:INVH) from a neutral rating to a buy rating in a report released on Friday morning, Marketbeat reports. They currently have $38.50 price objective on the stock, up from their previous price objective of $35.00.

Other analysts have also issued research reports about the stock. Royal Bank of Canada boosted their price target on shares of Invitation Homes from $35.00 to $36.00 and gave the company a “sector perform” rating in a research report on Friday, May 2nd. Oppenheimer boosted their price objective on shares of Invitation Homes from $39.00 to $41.00 and gave the company an “outperform” rating in a research note on Tuesday, May 6th. Barclays boosted their price objective on shares of Invitation Homes from $37.00 to $39.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. Mizuho raised shares of Invitation Homes from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $33.00 to $36.00 in a research note on Thursday, March 13th. Finally, Scotiabank lifted their price objective on shares of Invitation Homes from $36.00 to $38.00 and gave the stock a “sector perform” rating in a report on Monday, May 12th. Nine investment analysts have rated the stock with a hold rating and nine have assigned 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 price target of $37.97.

Invitation Homes Stock Performance

Shares of INVH stock opened at $33.19 on Friday. The firm has a market cap of $20.34 billion, a price-to-earnings ratio of 46.74, a P/E/G ratio of 4.70 and a beta of 0.82. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.24 and a current ratio of 0.24. Invitation Homes has a 52 week low of $29.37 and a 52 week high of $37.80. The firm’s 50-day simple moving average is $33.51 and its two-hundred day simple moving average is $32.88.

Invitation Homes (NYSE:INVH) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.01. Invitation Homes had a net margin of 17.02% and a return on equity of 4.36%. The company had revenue of $674.48 million for the quarter, compared to analyst estimates of $663.77 million. During the same quarter in the previous year, the firm posted $0.47 earnings per share. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. As a group, equities analysts forecast that Invitation Homes will post 1.83 earnings per share for the current year.

Invitation Homes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 17th. Shareholders of record on Monday, March 17th were issued a $0.29 dividend. The ex-dividend date of this dividend was Thursday, March 27th. This represents a $1.16 annualized dividend and a yield of 3.50%. Invitation Homes’s dividend payout ratio (DPR) is presently 150.65%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Invitation Homes by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 94,306,901 shares of the company’s stock worth $3,286,595,000 after acquiring an additional 829,212 shares in the last quarter. Cohen & Steers Inc. grew its position in Invitation Homes by 1.7% during the 4th quarter. Cohen & Steers Inc. now owns 61,645,138 shares of the company’s stock valued at $1,970,744,000 after purchasing an additional 1,019,377 shares during the last quarter. Norges Bank purchased a new stake in Invitation Homes during the 4th quarter valued at about $1,646,794,000. Geode Capital Management LLC grew its position in Invitation Homes by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 15,059,390 shares of the company’s stock valued at $480,276,000 after purchasing an additional 365,954 shares during the last quarter. Finally, Centersquare Investment Management LLC grew its position in Invitation Homes by 42.9% during the 4th quarter. Centersquare Investment Management LLC now owns 12,898,533 shares of the company’s stock valued at $412,366,000 after purchasing an additional 3,870,432 shares during the last quarter. 96.79% of the stock is currently owned by institutional investors.

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.