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

Invitation Homes (NYSE:INVH) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 1.820-1.900 for the period, compared to the consensus EPS estimate of 1.870. The company issued revenue guidance of -. Invitation Homes also updated its FY24 guidance to $1.82-$1.90 EPS.

Invitation Homes Price Performance

Shares of Invitation Homes stock traded down $0.38 during mid-day trading on Tuesday, reaching $34.20. 4,314,652 shares of the stock were exchanged, compared to its average volume of 3,134,835. Invitation Homes has a fifty-two week low of $28.49 and a fifty-two week high of $36.53. The company has a market cap of $20.95 billion, a price-to-earnings ratio of 41.17, a price-to-earnings-growth ratio of 2.05 and a beta of 0.94. The firm has a 50-day simple moving average of $34.42 and a 200 day simple moving average of $33.46. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.53.

Invitation Homes (NYSE:INVH) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.23). The business had revenue of $624.32 million during 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%. On average, sell-side analysts predict that Invitation Homes will post 1.83 EPS for the current fiscal year.

Invitation Homes Announces Dividend

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

Analysts Set New Price Targets

INVH has been the subject of a number of research analyst reports. Evercore ISI reaffirmed an in-line rating and issued a $36.00 target price on shares of Invitation Homes in a research note on Monday, March 18th. Jefferies Financial Group raised Invitation Homes from a hold rating to a buy rating and upped their price objective for the stock from $33.00 to $41.00 in a report on Tuesday, January 2nd. Oppenheimer lifted their target price on Invitation Homes from $35.00 to $40.00 and gave the company an outperform rating in a research note on Friday, January 5th. Deutsche Bank Aktiengesellschaft began coverage on Invitation Homes in a research note on Tuesday, January 30th. They set a hold rating and a $35.00 price target on the stock. Finally, JMP Securities reiterated a market outperform rating and issued a $40.00 price objective on shares of Invitation Homes in a research report on Thursday, March 7th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $38.19.

Insider Buying and Selling at Invitation Homes

In related news, CFO Jonathan S. Olsen sold 10,000 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $34.75, for a total value of $347,500.00. Following the completion of the transaction, the chief financial officer now directly owns 37,037 shares of the company’s stock, valued at $1,287,035.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company 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.