Invitation Homes (NYSE:INVH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The firm currently has a $26.00 target price on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 17.43% from the company’s previous close.
According to Zacks, “Invitation Homes Inc. provides real estate services. It focuses on owning, renovating, leasing and operating single-family residential properties primarily in the United States. Invitation Homes Inc. is headquartered in Dallas, Texas. “
A number of other brokerages have also recently issued reports on INVH. Robert W. Baird assumed coverage on Invitation Homes in a report on Thursday, April 5th. They issued an “outperform” rating for the company. B. Riley assumed coverage on Invitation Homes in a report on Monday, March 12th. They issued a “buy” rating and a $26.00 target price for the company. Finally, Mizuho reissued a “buy” rating and issued a $25.00 target price on shares of Invitation Homes in a report on Tuesday, February 27th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $25.78.
Invitation Homes (NYSE:INVH) last issued its earnings results on Monday, May 14th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.31). Invitation Homes had a negative return on equity of 1.31% and a negative net margin of 6.50%. The company had revenue of $423.70 million during the quarter, compared to analyst estimates of $415.58 million. During the same period in the previous year, the company posted $0.25 earnings per share. The company’s quarterly revenue was up 77.4% on a year-over-year basis. research analysts predict that Invitation Homes will post 1.18 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas bought a new stake in Invitation Homes during the 4th quarter worth approximately $2,121,000. BlackRock Inc. grew its position in Invitation Homes by 344.8% during the 4th quarter. BlackRock Inc. now owns 21,966,336 shares of the company’s stock worth $517,746,000 after acquiring an additional 17,028,345 shares during the last quarter. American Financial Group Inc. bought a new stake in Invitation Homes during the 4th quarter worth approximately $228,000. California State Teachers Retirement System grew its position in Invitation Homes by 250.7% during the 4th quarter. California State Teachers Retirement System now owns 515,998 shares of the company’s stock worth $12,162,000 after acquiring an additional 368,885 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its position in Invitation Homes by 286.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 89,168 shares of the company’s stock worth $2,101,000 after acquiring an additional 66,097 shares during the last quarter.
Invitation Homes Company Profile
Invitation Homes is a leading owner and operator of single-family homes for lease, offering residents high-quality homes across America. With more than 80,000 homes for lease in 17 markets across the country, Invitation Homes is meeting changing lifestyle demands by providing residents access to updated homes with features they value, such as close proximity to jobs and access to good schools.
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