Scotiabank Cuts Invitation Home (NYSE:INVH) Price Target to $28.00

Invitation Home (NYSE:INVH) had its price target trimmed by Scotiabank from $31.00 to $28.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a sector perform rating on the stock.

A number of other analysts have also recently issued reports on INVH. UBS Group set a $28.00 target price on shares of Invitation Home in a research note on Wednesday. Morgan Stanley cut their price objective on shares of Invitation Home from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Thursday, November 13th. JPMorgan Chase & Co. reduced their price objective on Invitation Home from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Tuesday, November 18th. Wells Fargo & Company lowered their target price on Invitation Home from $33.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Monday, October 13th. Finally, Mizuho reissued a “neutral” rating and set a $27.00 price target (down from $30.00) on shares of Invitation Home in a report on Thursday, January 8th. Eight equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, Invitation Home currently has a consensus rating of “Hold” and a consensus price target of $33.84.

Invitation Home Trading Up 2.2%

Invitation Home stock opened at $27.66 on Wednesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.03 and a current ratio of 0.03. The stock has a 50-day simple moving average of $27.44 and a 200 day simple moving average of $29.19. The stock has a market capitalization of $16.96 billion, a P/E ratio of 29.12, a PEG ratio of 2.56 and a beta of 0.83. Invitation Home has a 52 week low of $25.29 and a 52 week high of $35.80.

Invitation Home (NYSE:INVH) last issued its earnings results on Wednesday, October 29th. The company reported $0.47 EPS for the quarter, hitting the consensus estimate of $0.47. Invitation Home had a return on equity of 6.03% and a net margin of 21.70%.The company had revenue of $688.17 million during the quarter, compared to the consensus estimate of $679.41 million. During the same period in the previous year, the company posted $0.47 EPS. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. Invitation Home has set its FY 2025 guidance at 1.900-1.940 EPS. Analysts expect that Invitation Home will post 1.83 earnings per share for the current year.

Invitation Home Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Tuesday, December 23rd were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 4.3%. This is a boost from Invitation Home’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Tuesday, December 23rd. Invitation Home’s payout ratio is 126.32%.

Institutional Investors Weigh In On Invitation Home

Hedge funds and other institutional investors have recently modified their holdings of the stock. Harbor Capital Advisors Inc. purchased a new stake in Invitation Home during the 2nd quarter valued at $30,000. Hantz Financial Services Inc. raised its stake in shares of Invitation Home by 1,695.2% during the third quarter. Hantz Financial Services Inc. now owns 1,131 shares of the company’s stock valued at $33,000 after acquiring an additional 1,068 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Invitation Home by 59.1% during the third quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock worth $36,000 after purchasing an additional 466 shares during the period. Caitong International Asset Management Co. Ltd grew its stake in shares of Invitation Home by 136,000.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 1,361 shares of the company’s stock worth $40,000 after purchasing an additional 1,360 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its stake in shares of Invitation Home by 49.5% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,272 shares of the company’s stock worth $42,000 after purchasing an additional 421 shares during the last quarter. Institutional investors own 96.79% of the company’s stock.

Invitation Home Company Profile

Invitation Homes (NYSE: INVH) is a real estate investment trust that specializes in the ownership, operation and leasing of single-family rental homes across the United States. The company focuses on acquiring suburban and urban-adjacent single-family residences and managing them as rental properties for households seeking professionally managed, long-term housing alternatives to traditional homeownership or multifamily rentals.

Operationally, Invitation Homes is involved in the full lifecycle of the single-family rental business: sourcing and acquiring homes, performing renovations and ongoing maintenance, marketing and leasing properties, and providing property management and resident services.