Invitation Homes (NYSE:INVH) Issues FY24 Earnings Guidance

Invitation Homes (NYSE:INVH) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $1.82-$1.90 for the period, compared to the consensus estimate of $1.87. Invitation Homes also updated its FY 2024 guidance to 1.820-1.900 EPS.

Invitation Homes Price Performance

NYSE INVH traded down $0.38 during trading on Tuesday, reaching $34.20. The company’s stock had a trading volume of 4,314,652 shares, compared to its average volume of 3,134,835. Invitation Homes has a one year low of $28.49 and a one year high of $36.53. The stock has a market capitalization of $20.95 billion, a PE ratio of 41.17, a P/E/G ratio of 2.05 and a beta of 0.94. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.20 and a quick ratio of 0.20. The firm has a fifty day moving average of $34.42 and a 200 day moving average of $33.46.

Invitation Homes (NYSE:INVH) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.23). Invitation Homes had a return on equity of 5.06% and a net margin of 21.34%. The business had revenue of $624.32 million during the quarter, compared to the consensus estimate of $623.51 million. Analysts expect that Invitation Homes will post 1.83 EPS for the current fiscal year.

Invitation Homes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Thursday, March 28th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend was Wednesday, March 27th. Invitation Homes’s payout ratio is currently 133.33%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Evercore ISI reiterated an in-line rating and set a $36.00 target price on shares of Invitation Homes in a report on Monday, March 18th. Citigroup reissued a neutral rating and set a $39.00 price objective on shares of Invitation Homes in a research report on Friday, March 22nd. Raymond James upped their target price on shares of Invitation Homes from $37.00 to $39.00 and gave the stock an outperform rating in a research report on Thursday, March 28th. Keefe, Bruyette & Woods decreased their price target on shares of Invitation Homes from $38.00 to $37.00 and set a market perform rating for the company in a research note on Tuesday, February 27th. Finally, Mizuho boosted their price objective on shares of Invitation Homes from $35.00 to $37.00 and gave the stock a neutral rating in a research note on Wednesday, March 20th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $38.19.

Insider Activity at Invitation Homes

In other news, CFO Jonathan S. Olsen sold 10,000 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $34.75, for a total value of $347,500.00. Following the transaction, the chief financial officer now owns 37,037 shares in the company, valued at approximately $1,287,035.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.28% of the stock is owned by company 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.