Invitation Homes (NYSE:INVH) had its price target raised by Morgan Stanley from $31.00 to $35.00 in a report issued on Wednesday, BenzingaRatingsTable reports. They currently have an overweight rating on the stock.
Other analysts have also recently issued reports about the company. Credit Suisse Group upped their target price on Invitation Homes from $28.50 to $32.00 and gave the company an outperform rating in a report on Wednesday, October 2nd. Zacks Investment Research upgraded Invitation Homes from a sell rating to a hold rating in a report on Tuesday. ValuEngine cut Invitation Homes from a hold rating to a sell rating in a report on Wednesday, October 2nd. Keefe, Bruyette & Woods cut Invitation Homes from an outperform rating to a market perform rating and set a $28.50 target price for the company. in a report on Friday, July 19th. Finally, B. Riley set a $30.00 target price on Invitation Homes and gave the company a buy rating in a report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $29.45.
NYSE:INVH traded up $0.12 during trading hours on Wednesday, reaching $30.31. The company had a trading volume of 240,688 shares, compared to its average volume of 5,600,685. Invitation Homes has a 1-year low of $19.21 and a 1-year high of $30.34. The firm has a market cap of $16.09 billion, a PE ratio of 131.78, a price-to-earnings-growth ratio of 3.26 and a beta of 0.39. The business’s 50 day moving average price is $29.00 and its 200-day moving average price is $26.84. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.34 and a quick ratio of 0.34.
Invitation Homes (NYSE:INVH) last announced its earnings results on Tuesday, July 30th. The company reported $0.07 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.24). The business had revenue of $442.00 million for the quarter, compared to analyst estimates of $442.81 million. Invitation Homes had a return on equity of 1.42% and a net margin of 4.91%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.29 earnings per share. On average, analysts expect that Invitation Homes will post 1.23 earnings per share for the current fiscal year.
In other news, EVP Mark A. Solls sold 30,000 shares of the stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $29.01, for a total value of $870,300.00. Following the transaction, the executive vice president now owns 94,858 shares in the company, valued at approximately $2,751,830.58. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Real Estate Partner Blackstone sold 44,000,000 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $28.18, for a total value of $1,239,920,000.00. The disclosure for this sale can be found here. Insiders sold a total of 44,061,892 shares of company stock worth $1,241,696,352 in the last ninety days. 0.25% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. CSat Investment Advisory L.P. purchased a new position in shares of Invitation Homes in the 2nd quarter valued at approximately $37,000. NEXT Financial Group Inc grew its stake in shares of Invitation Homes by 18.1% in the 2nd quarter. NEXT Financial Group Inc now owns 2,919 shares of the company’s stock valued at $78,000 after purchasing an additional 447 shares during the last quarter. Whittier Trust Co. purchased a new position in shares of Invitation Homes in the 2nd quarter valued at approximately $83,000. North Star Investment Management Corp. purchased a new position in shares of Invitation Homes in the 3rd quarter valued at approximately $139,000. Finally, Steward Partners Investment Advisory LLC purchased a new position in shares of Invitation Homes in the 2nd quarter valued at approximately $194,000.
About Invitation Homes
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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