Invitation Homes (NYSE:INVH) Raised to “Outperform” at Evercore ISI

Invitation Homes (NYSE:INVH) was upgraded by research analysts at Evercore ISI from an “in-line” rating to an “outperform” rating in a note issued to investors on Friday, StockNewsAPI reports. The brokerage currently has a $37.00 price target on the stock. Evercore ISI’s price objective indicates a potential upside of 11.41% from the company’s current price.

Several other brokerages have also commented on INVH. Raymond James upped their price target on Invitation Homes from $37.00 to $39.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. JPMorgan Chase & Co. upped their price target on Invitation Homes from $35.00 to $36.00 and gave the company a “neutral” rating in a research note on Monday, June 17th. Scotiabank boosted their price objective on Invitation Homes from $36.00 to $38.00 and gave the company a “sector perform” rating in a report on Thursday, May 16th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $38.00 price objective on shares of Invitation Homes in a report on Monday, June 17th. Finally, Mizuho cut their price objective on Invitation Homes from $37.00 to $36.00 and set a “neutral” rating on the stock in a report on Monday, June 3rd. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $38.39.

Invitation Homes Stock Performance

NYSE INVH opened at $33.21 on Friday. The stock’s fifty day moving average is $35.37 and its two-hundred day moving average is $34.52. The firm has a market capitalization of $20.34 billion, a P/E ratio of 38.17, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.21 and a current ratio of 0.21. Invitation Homes has a fifty-two week low of $28.49 and a fifty-two week high of $36.92.

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

Insider Transactions at Invitation Homes

In other news, Director Cohen Jana Barbe sold 7,200 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was 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 SEC, which is available at this hyperlink. In related news, Director Cohen Jana Barbe sold 7,200 shares of the firm’s stock in a transaction that occurred 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 owns 28,068 shares in the company, valued at approximately $970,591.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Charles D. Young sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was 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 approximately $9,594,065.60. The disclosure for this sale can be found here. Insiders own 0.28% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in INVH. Norges Bank purchased a new position in Invitation Homes during the 4th quarter worth approximately $1,346,883,000. Canada Pension Plan Investment Board grew its stake in shares of Invitation Homes by 27.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 15,686,912 shares of the company’s stock valued at $558,611,000 after purchasing an additional 3,351,424 shares during the last quarter. Boston Partners purchased a new position in shares of Invitation Homes in the 4th quarter valued at approximately $105,282,000. Goldman Sachs Group Inc. grew its stake in shares of Invitation Homes by 66.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 5,424,752 shares of the company’s stock valued at $185,038,000 after purchasing an additional 2,169,522 shares during the last quarter. Finally, First Financial Bankshares Inc purchased a new position in shares of Invitation Homes in the 4th quarter valued at approximately $45,104,000. Hedge funds and other institutional investors own 96.79% 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.