Invitation Homes (NYSE:INVH) PT Raised to $30.00

Invitation Homes (NYSE:INVH) had its target price hoisted by investment analysts at Royal Bank of Canada to $30.00 in a research note issued on Tuesday, The Fly reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective suggests a potential upside of 5.04% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. Raymond James upped their price objective on shares of Invitation Homes from $27.00 to $30.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, May 15th. Keefe, Bruyette & Woods downgraded shares of Invitation Homes from an “outperform” rating to a “market perform” rating and set a $28.50 price objective for the company. in a research report on Friday, July 19th. BTIG Research set a $27.00 price objective on shares of Invitation Homes and gave the stock a “buy” rating in a research report on Tuesday, May 14th. B. Riley set a $30.00 price objective on shares of Invitation Homes and gave the stock a “buy” rating in a research report on Friday. Finally, Evercore ISI downgraded shares of Invitation Homes from an “outperform” rating to an “in-line” rating in a research report on Monday, June 10th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $28.44.

INVH stock traded down $0.02 on Tuesday, hitting $28.56. The company’s stock had a trading volume of 8,797 shares, compared to its average volume of 3,463,625. The stock has a market cap of $15.23 billion, a price-to-earnings ratio of 124.17, a price-to-earnings-growth ratio of 3.00 and a beta of 0.42. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 1.13. Invitation Homes has a 1 year low of $19.21 and a 1 year high of $28.64. The firm has a 50 day moving average of $27.61 and a two-hundred day moving average of $25.38.

Invitation Homes (NYSE:INVH) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.07 EPS for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.24). The firm had revenue of $442.00 million for the quarter, compared to analysts’ expectations of $442.81 million. Invitation Homes had a return on equity of 1.42% and a net margin of 4.91%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.29 EPS. As a group, equities analysts forecast that Invitation Homes will post 1.26 EPS for the current fiscal year.

In other news, major shareholder Brep Ih6 Holdings Llc sold 40,000,000 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $25.21, for a total value of $1,008,400,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Holdings L.P. Blackstone II sold 37,500,000 shares of the stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $27.43, for a total transaction of $1,028,625,000.00. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Magnetar Financial LLC acquired a new stake in shares of Invitation Homes during the 2nd quarter worth about $4,010,000. Royal Bank of Canada boosted its stake in shares of Invitation Homes by 704.0% during the 2nd quarter. Royal Bank of Canada now owns 582,708 shares of the company’s stock worth $15,576,000 after purchasing an additional 510,229 shares during the last quarter. UBS Group AG boosted its stake in shares of Invitation Homes by 98.3% during the 2nd quarter. UBS Group AG now owns 560,920 shares of the company’s stock worth $14,994,000 after purchasing an additional 277,992 shares during the last quarter. Eaton Vance Management boosted its stake in shares of Invitation Homes by 41.9% during the 2nd quarter. Eaton Vance Management now owns 296,709 shares of the company’s stock worth $7,382,000 after purchasing an additional 87,542 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. boosted its stake in shares of Invitation Homes by 64.2% during the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 1,135,067 shares of the company’s stock worth $30,341,000 after purchasing an additional 443,854 shares during the last quarter.

Invitation Homes Company Profile

Invitation Homes is a leading owner and operator of single-family rental homes, offering residents high-quality homes across America. With over 80,000 homes for lease in 17 markets across the country, Invitation Homes is meeting changing lifestyle demands by providing residents access to updated homes with features they value, such as close proximity to jobs and access to good schools.

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The Fly

Analyst Recommendations for Invitation Homes (NYSE:INVH)

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