Invitation Homes (NYSE:INVH) Announces Earnings Results, Beats Expectations By $0.09 EPS

Invitation Homes (NYSE:INVH) announced its earnings results on Wednesday. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.09, Zacks reports. The firm had revenue of $731.28 million for the quarter, compared to analyst estimates of $742.55 million. Invitation Homes had a net margin of 23.13% and a return on equity of 7.22%. Invitation Homes’s revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.47 earnings per share.

Invitation Homes Stock Performance

Shares of NYSE:INVH opened at $26.70 on Thursday. The firm has a market capitalization of $15.77 billion, a PE ratio of 24.49, a P/E/G ratio of 4.10 and a beta of 0.82. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.02 and a quick ratio of 0.02. The business has a 50-day moving average of $27.60 and a two-hundred day moving average of $27.79. Invitation Homes has a 12 month low of $24.25 and a 12 month high of $30.89.

Invitation Homes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Thursday, September 24th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend was Thursday, September 24th. Invitation Homes’s payout ratio is 110.09%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. BTIG Research set a $32.00 price target on Invitation Homes in a report on Monday, September 21st. Mizuho upgraded Invitation Homes from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $31.00 to $32.00 in a report on Monday, September 21st. UBS Group lowered their price objective on Invitation Homes from $35.00 to $31.00 and set a “buy” rating for the company in a research report on Monday, October 12th. Scotiabank dropped their target price on Invitation Homes from $30.00 to $28.00 and set a “sector perform” rating for the company in a research note on Thursday, September 17th. Finally, Royal Bank Of Canada dropped their target price on Invitation Homes from $31.00 to $29.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 13th. Eleven investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Invitation Homes presently has an average rating of “Hold” and an average price target of $32.00.

About Invitation Homes

Invitation Homes Inc (NYSE: INVH) is a real estate investment trust that owns, leases and operates single-family homes in the United States. The company provides professionally managed rental housing for individuals and families, with properties generally located in suburban communities and metropolitan areas.

The company’s services include home leasing, property management, resident support, maintenance and renovations. Invitation Homes uses technology and centralized operating systems to market homes, manage lease agreements, collect rent and coordinate property care.