Invitation Homes (NYSE:INVH) Issues FY24 Earnings Guidance

Invitation Homes (NYSE:INVH) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $1.84-$1.90 for the period, compared to the consensus estimate of $1.88. Invitation Homes also updated its FY 2024 guidance to 1.840-1.900 EPS.

Invitation Homes Trading Up 2.4 %

Shares of NYSE INVH traded up $0.80 during trading on Friday, reaching $34.00. The company had a trading volume of 4,092,913 shares, compared to its average volume of 3,216,053. The company’s fifty day moving average price is $35.33 and its 200-day moving average price is $34.51. Invitation Homes has a 12 month low of $28.49 and a 12 month high of $36.92. The stock has a market cap of $20.83 billion, a P/E ratio of 38.92, a PEG ratio of 2.21 and a beta of 0.99. The company has a quick ratio of 0.21, a current ratio of 0.21 and a debt-to-equity ratio of 0.53.

Invitation Homes (NYSE:INVH) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.22). Invitation Homes had a net margin of 18.75% and a return on equity of 4.67%. The company had revenue of $646.04 million during the quarter, compared to the consensus estimate of $630.97 million. As a group, research analysts expect that Invitation Homes will post 1.83 earnings per share for the current year.

Invitation Homes Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Thursday, June 27th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date was Thursday, June 27th. Invitation Homes’s dividend payout ratio (DPR) is currently 128.74%.

Wall Street Analyst Weigh In

A number of brokerages have commented on INVH. Mizuho decreased their price objective on Invitation Homes from $37.00 to $36.00 and set a neutral rating for the company in a report on Monday, June 3rd. Raymond James increased their price objective on Invitation Homes from $37.00 to $39.00 and gave the company an outperform rating in a report on Thursday, March 28th. Keefe, Bruyette & Woods restated a market perform rating and set a $38.00 target price on shares of Invitation Homes in a research report on Monday, June 17th. Barclays dropped their target price on Invitation Homes from $41.00 to $40.00 and set an overweight rating on the stock in a research report on Wednesday, May 29th. Finally, JPMorgan Chase & Co. increased their target price on Invitation Homes from $35.00 to $36.00 and gave the stock a neutral rating in a research report on Monday, June 17th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Invitation Homes currently has a consensus rating of Moderate Buy and a consensus target price of $38.44.

Insider Transactions at Invitation Homes

In other Invitation Homes news, Director Cohen Jana Barbe sold 7,200 shares of Invitation Homes stock in a transaction on 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 approximately $970,591.44. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Cohen Jana Barbe sold 7,200 shares of Invitation Homes stock in a transaction on Friday, May 24th. The stock was sold at an average price of $34.58, for a total transaction of $248,976.00. Following the transaction, the director now directly owns 28,068 shares in the company, valued at $970,591.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Charles D. Young sold 5,000 shares of Invitation Homes stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $34.85, for a total value of $174,250.00. Following the transaction, the chief operating officer now owns 275,296 shares in the company, valued at $9,594,065.60. The disclosure for this sale can be found here. Corporate 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.