Invitation Homes (NYSE:INVH) Price Target Raised to $38.00 at Scotiabank

Invitation Homes (NYSE:INVH) had its price target raised by research analysts at Scotiabank from $36.00 to $38.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s price objective indicates a potential upside of 12.73% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Oppenheimer increased their target price on shares of Invitation Homes from $39.00 to $41.00 and gave the stock an “outperform” rating in a report on Tuesday, May 6th. Royal Bank of Canada increased their target price on shares of Invitation Homes from $35.00 to $36.00 and gave the stock a “sector perform” rating in a report on Friday, May 2nd. Mizuho raised shares of Invitation Homes from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $33.00 to $36.00 in a report on Thursday, March 13th. Barclays raised their target price on shares of Invitation Homes from $37.00 to $39.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Finally, The Goldman Sachs Group raised their target price on shares of Invitation Homes from $39.00 to $43.00 and gave the company a “buy” rating in a report on Tuesday, May 6th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $37.94.

Invitation Homes Price Performance

Shares of NYSE:INVH opened at $33.71 on Monday. The firm’s 50 day moving average price is $33.68 and its 200-day moving average price is $32.84. Invitation Homes has a twelve month low of $29.37 and a twelve month high of $37.80. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $20.66 billion, a PE ratio of 47.48, a price-to-earnings-growth ratio of 4.70 and a beta of 0.87.

Invitation Homes (NYSE:INVH) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.01. The firm had revenue of $674.48 million for the quarter, compared to analysts’ expectations of $663.77 million. Invitation Homes had a net margin of 17.02% and a return on equity of 4.36%. The business’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.47 EPS. Equities research analysts expect that Invitation Homes will post 1.83 EPS for the current year.

Hedge Funds Weigh In On Invitation Homes

Hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its holdings in Invitation Homes by 21.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,287,830 shares of the company’s stock valued at $221,709,000 after acquiring an additional 1,089,281 shares during the period. Czech National Bank boosted its holdings in Invitation Homes by 6.4% during the 4th quarter. Czech National Bank now owns 123,528 shares of the company’s stock valued at $3,949,000 after acquiring an additional 7,472 shares during the period. Park Avenue Securities LLC boosted its holdings in Invitation Homes by 24.1% during the 4th quarter. Park Avenue Securities LLC now owns 11,352 shares of the company’s stock valued at $363,000 after acquiring an additional 2,202 shares during the period. Exchange Traded Concepts LLC raised its position in Invitation Homes by 19.9% in the 4th quarter. Exchange Traded Concepts LLC now owns 11,756 shares of the company’s stock valued at $376,000 after purchasing an additional 1,948 shares in the last quarter. Finally, Presima Securities ULC raised its position in Invitation Homes by 10.1% in the 4th quarter. Presima Securities ULC now owns 717,940 shares of the company’s stock valued at $22,953,000 after purchasing an additional 66,040 shares in the last quarter. 96.79% of the stock is currently owned by hedge funds and other institutional investors.

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.