Invitation Home Inc. (NYSE:INVH) posted its quarterly earnings data on Thursday. The company reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.01, Bloomberg Earnings reports. The company had revenue of $242.22 million for the quarter, compared to the consensus estimate of $240.58 million. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. Invitation Home updated its FY17 guidance to $0.96-1.04 EPS.
Invitation Home (INVH) traded up 0.87% on Friday, hitting $21.92. 4,896,880 shares of the stock were exchanged. The company’s 50 day moving average is $21.47 and its 200 day moving average is $21.46. The stock’s market cap is $6.80 billion. Invitation Home has a 1-year low of $19.80 and a 1-year high of $22.43.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Tuesday, August 15th will be given a $0.08 dividend. This is an increase from Invitation Home’s previous quarterly dividend of $0.06. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend is Friday, August 11th.
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A number of research analysts have commented on INVH shares. Royal Bank Of Canada reiterated an “outperform” rating and set a $24.00 price objective (up from $23.00) on shares of Invitation Home in a research note on Tuesday, May 16th. Evercore ISI began coverage on shares of Invitation Home in a research note on Monday, June 5th. They set an “outperform” rating and a $24.00 price objective on the stock. Zelman & Associates upgraded shares of Invitation Home from a “hold” rating to a “buy” rating in a research report on Friday, June 23rd. Zacks Investment Research upgraded shares of Invitation Home from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Wednesday, July 12th. Finally, FBR & Co restated a “buy” rating on shares of Invitation Home in a research report on Saturday, May 13th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $24.08.
A number of hedge funds have recently made changes to their positions in INVH. Blackstone Group L.P. purchased a new stake in shares of Invitation Home during the first quarter valued at $4,801,407,000. Bank of New York Mellon Corp purchased a new stake in shares of Invitation Home during the first quarter valued at $54,770,000. Advantus Capital Management Inc purchased a new stake in shares of Invitation Home during the first quarter valued at $8,712,000. Quantitative Systematic Strategies LLC purchased a new stake in shares of Invitation Home during the first quarter valued at $413,000. Finally, Lazard Asset Management LLC purchased a new stake in shares of Invitation Home during the first quarter valued at $866,000.
About Invitation Home
Invitation Homes Inc is a real estate investment trust. The Company owns and operates single-family homes for lease in the United States. The Company’s segment relates to acquiring, renovating, leasing and operating single-family homes as rental properties, including single-family homes in planned unit developments.
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