Invitation Home Inc. (NYSE:INVH) Issues Quarterly Earnings Results
Invitation Home Inc. (NYSE:INVH) announced its earnings results on Thursday. The company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.01, Bloomberg Earnings reports. The business had revenue of $242.22 million for the quarter, compared to analyst estimates of $240.58 million. The firm’s revenue was up 5.1% on a year-over-year basis. Invitation Home updated its FY17 guidance to $0.96-1.04 EPS.
Invitation Home (NYSE:INVH) traded up 3.91% on Thursday, hitting $21.81. The stock had a trading volume of 10,985,818 shares. Invitation Home has a one year low of $19.80 and a one year high of $22.43. The stock’s 50 day moving average is $21.44 and its 200 day moving average is $21.45. The stock’s market cap is $6.77 billion.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Tuesday, August 15th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.47%. The ex-dividend date is Friday, August 11th. This is a positive change from Invitation Home’s previous quarterly dividend of $0.06.
Several equities research analysts have issued reports on INVH shares. Zacks Investment Research raised shares of Invitation Home from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research note on Wednesday, July 12th. Zelman & Associates raised shares of Invitation Home from a “hold” rating to a “buy” rating in a research note on Friday, June 23rd. FBR & Co reaffirmed a “buy” rating on shares of Invitation Home in a research note on Saturday, May 13th. Evercore ISI started coverage on shares of Invitation Home in a research note on Monday, June 5th. They set an “outperform” rating and a $24.00 target price on the stock. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $24.00 target price (up previously from $23.00) on shares of Invitation Home in a research note on Tuesday, May 16th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Invitation Home currently has a consensus rating of “Buy” and a consensus price target of $24.08.
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Hedge funds have recently bought and sold shares of the stock. Blackstone Group L.P. bought a new stake in Invitation Home during the first quarter worth approximately $4,801,407,000. APG Asset Management US Inc. raised its stake in Invitation Home by 41.4% in the second quarter. APG Asset Management US Inc. now owns 9,188,089 shares of the company’s stock worth $198,738,000 after buying an additional 2,688,089 shares during the last quarter. Vanguard Group Inc. bought a new stake in Invitation Home during the first quarter worth approximately $159,769,000. FMR LLC bought a new stake in Invitation Home during the first quarter worth approximately $149,699,000. Finally, Principal Financial Group Inc. raised its stake in Invitation Home by 59.9% in the second quarter. Principal Financial Group Inc. now owns 6,538,202 shares of the company’s stock worth $141,422,000 after buying an additional 2,448,615 shares during the last quarter.
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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