Invitation Homes (NYSE:INVH) Issues FY24 Earnings Guidance

Invitation Homes (NYSE:INVH) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $1.82-$1.90 for the period, compared to the consensus EPS estimate of $1.87. Invitation Homes also updated its FY 2024 guidance to 1.820-1.900 EPS.

Analyst Ratings Changes

A number of research firms have weighed in on INVH. JMP Securities reaffirmed a market outperform rating and set a $40.00 target price on shares of Invitation Homes in a research note on Thursday, March 7th. KeyCorp boosted their target price on shares of Invitation Homes from $35.00 to $38.00 and gave the stock an overweight rating in a research note on Friday, January 5th. BNP Paribas began coverage on shares of Invitation Homes in a report on Monday, January 22nd. They set an outperform rating and a $39.00 price target on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Invitation Homes in a report on Tuesday, January 30th. They set a hold rating and a $35.00 price target on the stock. Finally, Raymond James lifted their price target on shares of Invitation Homes from $37.00 to $39.00 and gave the stock an outperform rating in a report on Thursday, March 28th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $38.19.

Invitation Homes Trading Up 1.2 %

INVH stock traded up $0.42 during mid-day trading on Thursday, reaching $34.50. The company’s stock had a trading volume of 3,783,154 shares, compared to its average volume of 3,156,603. The company has a market cap of $21.13 billion, a price-to-earnings ratio of 39.17, a price-to-earnings-growth ratio of 2.02 and a beta of 0.95. The business’s 50 day moving average price is $34.47 and its 200 day moving average price is $33.48. 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 has a 12 month low of $28.49 and a 12 month high of $36.53.

Invitation Homes (NYSE:INVH) last issued its earnings results on Tuesday, February 13th. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates 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 return on equity of 5.28% and a net margin of 21.75%. On average, equities research analysts predict that Invitation Homes will post 1.83 EPS for the current year.

Invitation Homes Announces Dividend

The company 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 3.25%. Invitation Homes’s dividend payout ratio is 128.74%.

Insider Activity

In other news, CFO Jonathan S. Olsen sold 10,000 shares of the business’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 transaction of $347,500.00. Following the completion of the sale, the chief financial officer now owns 37,037 shares in the company, valued at $1,287,035.75. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.28% of the company’s stock.

About Invitation Homes

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.