Invitation Homes (NYSE:INVH) Releases FY24 Earnings Guidance

Invitation Homes (NYSE:INVH) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $1.82-$1.90 for the period, compared to the consensus estimate of $1.87.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Raymond James lifted their price target on Invitation Homes from $37.00 to $39.00 and gave the company an outperform rating in a report on Thursday, March 28th. KeyCorp increased their price target on shares of Invitation Homes from $35.00 to $38.00 and gave the stock an overweight rating in a research report on Friday, January 5th. Oppenheimer boosted their price objective on shares of Invitation Homes from $35.00 to $40.00 and gave the company an outperform rating in a research report on Friday, January 5th. Evercore ISI reissued an in-line rating and set a $36.00 target price on shares of Invitation Homes in a research note on Monday, March 18th. Finally, Citigroup reaffirmed a neutral rating and issued a $39.00 price target on shares of Invitation Homes in a research note on Friday, March 22nd. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $38.19.

Invitation Homes Stock Performance

Shares of NYSE:INVH traded down $0.38 during trading on Tuesday, reaching $34.20. The stock had a trading volume of 4,314,653 shares, compared to its average volume of 3,134,224. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.53. The stock has a fifty day simple moving average of $34.42 and a two-hundred day simple moving average of $33.46. The firm has a market capitalization of $20.95 billion, a price-to-earnings ratio of 41.17, a P/E/G ratio of 2.05 and a beta of 0.94. Invitation Homes has a 52 week low of $28.49 and a 52 week high of $36.53.

Invitation Homes (NYSE:INVH) last announced its earnings results on Tuesday, February 13th. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.23). The business had revenue of $624.32 million for the quarter, compared to the consensus estimate of $623.51 million. Invitation Homes had a net margin of 21.34% and a return on equity of 5.06%. As a group, analysts anticipate that Invitation Homes will post 1.83 earnings per share for the current fiscal year.

Invitation Homes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 19th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.12 annualized dividend and a dividend yield of 3.27%. Invitation Homes’s payout ratio is 133.33%.

Insider Activity

In other Invitation Homes news, CFO Jonathan S. Olsen sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $34.75, for a total value of $347,500.00. Following the completion of the sale, the chief financial officer now owns 37,037 shares in the company, valued at approximately $1,287,035.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.28% of the stock is owned by company insiders.

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.