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

Invitation Homes (NYSE:INVH) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 1.840-1.900 for the period, compared to the consensus estimate of 1.880. The company issued revenue guidance of -. Invitation Homes also updated its FY24 guidance to $1.84-$1.90 EPS.

Invitation Homes Price Performance

Shares of NYSE:INVH traded down $0.52 during mid-day trading on Wednesday, reaching $35.97. The stock had a trading volume of 3,502,988 shares, compared to its average volume of 3,143,238. The company has a market cap of $22.03 billion, a P/E ratio of 42.05, a price-to-earnings-growth ratio of 2.23 and a beta of 0.99. The business’s 50 day moving average price is $35.37 and its 200 day moving average price is $34.51. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.53. Invitation Homes has a 1 year low of $28.49 and a 1 year high of $36.92.

Invitation Homes (NYSE:INVH) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.22). Invitation Homes had a return on equity of 5.29% and a net margin of 21.75%. The firm had revenue of $646.04 million for the quarter, compared to analysts’ expectations of $630.97 million. Research analysts expect that Invitation Homes will post 1.83 EPS for the current fiscal year.

Invitation Homes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Thursday, June 27th were issued a $0.28 dividend. The ex-dividend date was Thursday, June 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.11%. Invitation Homes’s dividend payout ratio (DPR) is presently 128.74%.

Wall Street Analyst Weigh In

INVH has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft upgraded Invitation Homes from a hold rating to a buy rating and lifted their price target for the stock from $35.00 to $41.00 in a research report on Wednesday. Raymond James lifted their target price on Invitation Homes from $37.00 to $39.00 and gave the stock an outperform rating in a report on Thursday, March 28th. Keefe, Bruyette & Woods reiterated a market perform rating and set a $38.00 price objective on shares of Invitation Homes in a research report on Monday, June 17th. Scotiabank raised their target price on shares of Invitation Homes from $36.00 to $38.00 and gave the stock a sector perform rating in a report on Thursday, May 16th. Finally, JPMorgan Chase & Co. upped their price target on shares of Invitation Homes from $35.00 to $36.00 and gave the company a neutral rating in a report on Monday, June 17th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $38.39.

Insider Activity at Invitation Homes

In other Invitation Homes news, Director Cohen Jana Barbe sold 7,200 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $34.58, for a total value of $248,976.00. Following the completion of the sale, the director now owns 28,068 shares of the company’s stock, valued at $970,591.44. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Invitation Homes news, Director Cohen Jana Barbe sold 7,200 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $34.58, for a total transaction of $248,976.00. Following the completion of the transaction, the director now directly owns 28,068 shares of the company’s stock, valued at approximately $970,591.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Charles D. Young sold 5,000 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $34.85, for a total transaction of $174,250.00. Following the completion of the sale, the chief operating officer now owns 275,296 shares in the company, valued at approximately $9,594,065.60. The disclosure for this sale can be found here. 0.28% of the stock is currently owned by corporate 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.