Invitation Homes (NYSE:INVH) Releases Quarterly Earnings Results, Misses Expectations By $0.24 EPS

Invitation Homes (NYSE:INVH) released its quarterly earnings data on Tuesday. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.24), Fidelity Earnings reports. The company had revenue of $442.00 million for the quarter, compared to the consensus estimate of $442.81 million. Invitation Homes had a return on equity of 1.10% and a net margin of 1.89%. The business’s revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.29 earnings per share. Invitation Homes updated its FY 2019 guidance to $1.23-1.29 EPS and its FY19 guidance to $1.23-1.29 EPS.

Shares of INVH traded down $0.29 during mid-day trading on Wednesday, reaching $27.47. The company’s stock had a trading volume of 4,536,931 shares, compared to its average volume of 3,795,666. The company has a fifty day moving average price of $27.35. The company has a market cap of $14.37 billion, a P/E ratio of 119.43, a price-to-earnings-growth ratio of 3.48 and a beta of 0.42. Invitation Homes has a 1 year low of $19.21 and a 1 year high of $28.17. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.68 and a current ratio of 0.68.

In related news, COO Charles D. Young sold 29,925 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $24.83, for a total transaction of $743,037.75. Following the completion of the sale, the chief operating officer now directly owns 176,184 shares in the company, valued at $4,374,648.72. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Holdings L.P. Blackstone II sold 37,500,000 shares of the stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $27.43, for a total value of $1,028,625,000.00. The disclosure for this sale can be found here. Insiders sold 77,529,925 shares of company stock valued at $2,037,768,038 in the last 90 days. Corporate insiders own 0.25% of the company’s stock.

A number of analysts have recently issued reports on the company. Keefe, Bruyette & Woods lowered Invitation Homes from an “outperform” rating to a “market perform” rating and set a $28.50 target price for the company. in a report on Friday, July 19th. BTIG Research set a $27.00 target price on Invitation Homes and gave the company a “buy” rating in a report on Tuesday, May 14th. Evercore ISI lowered Invitation Homes from an “outperform” rating to an “in-line” rating in a report on Monday, June 10th. Zacks Investment Research upgraded Invitation Homes from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a report on Wednesday, June 19th. Finally, Raymond James increased their target price on Invitation Homes from $27.00 to $30.00 and gave the company a “strong-buy” rating in a report on Wednesday, May 15th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $27.92.

Invitation Homes Company Profile

Invitation Homes is a leading owner and operator of single-family rental homes, offering residents high-quality homes across America. With over 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.

Further Reading: Leveraged Buyout (LBO) Explained

Earnings History for Invitation Homes (NYSE:INVH)

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