Shares of Invitation Home (NYSE: INVH) are currently rated as a “Moderate Buy” by analysts, with a consensus target price set at $35.16. This figure is based on evaluations from eighteen analysts who cover the company, as reported by MarketBeat.com. The breakdown reveals that nine analysts have assigned a hold rating, while the other nine have recommended a buy rating.
Leading brokerages have recently made adjustments to their price targets for the stock. For instance, Keefe, Bruyette & Woods lowered its target from $33.00 to $31.00, designating the stock as “market perform.” Similarly, Scotiabank revised its price target down from $36.00 to $31.00, classifying it as “sector perform.” Wells Fargo & Company also adjusted its projection, reducing the target from $33.00 to $31.00 while maintaining an “equal weight” rating. The Evercore ISI firm slightly decreased its target from $34.00 to $33.00 and kept an “outperform” rating. Additionally, Bank of America lowered its price target from $37.00 to $36.00, issuing a “neutral” rating.
Quarterly Earnings and Revenue Growth
Invitation Home recently announced its quarterly earnings on October 29, 2023. The company reported earnings per share (EPS) of $0.47, aligning with analysts’ expectations. The firm achieved a return on equity of 6.03% and a net margin of 21.70%. Revenue for the quarter reached $688.17 million, surpassing the consensus estimate of $679.41 million. This represents a 4.2% increase in revenue compared to the same quarter last year. Looking ahead, Invitation Home has projected its fiscal year 2025 EPS guidance to be between $1.90 and $1.94. Analysts forecast an EPS of $1.83 for the current fiscal year.
In conjunction with its earnings report, Invitation Home declared a quarterly dividend of $0.29 per share, which was paid on October 17, 2023. Shareholders who were on record as of September 25, 2023, received this dividend, equating to an annualized total of $1.16 and a yield of 4.1%. The ex-dividend date was also marked on September 25. Currently, the company’s dividend payout ratio stands at 122.11%.
Institutional Investor Activity
Recent trading activity indicates significant interest from institutional investors in Invitation Home. Creative Planning increased its stake in the company by 100.8% during the third quarter, now holding 90,512 shares valued at approximately $2.65 million. In an even more substantial move, Lazard Asset Management LLC expanded its holdings by an extraordinary 18,089.3%, accumulating 108,590 shares worth around $3.19 million.
Furthermore, AQR Capital Management LLC raised its position by 46.5%, now owning 2,513,862 shares valued at about $72.93 million. SummitTX Capital L.P. also increased its holdings by 193.3%, acquiring 332,274 shares valued at $9.75 million. Credit Agricole S.A. entered the scene with a new investment worth approximately $4.95 million. Currently, institutional investors hold 96.79% of Invitation Home’s shares.
Invitation Home continues to position itself as a key player in the single-family home leasing and management sector, responding to evolving lifestyle demands. The company’s mission highlights its commitment to providing high-quality homes and enhancing residents’ living experiences. As investor interest grows, the upcoming quarters will be crucial in assessing the company’s performance in a competitive market.
