Invitation Homes (NYSE:INVH) Stock Rating Lowered by Bank of America

Invitation Homes (NYSE:INVH) was downgraded by research analysts at Bank of America from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, Marketbeat.com reports. They presently have a $37.00 price objective on the stock, down from their prior price objective of $39.00. Bank of America‘s price objective indicates a potential upside of 3.99% from the stock’s current price.

A number of other brokerages have also recently weighed in on INVH. Royal Bank of Canada cut Invitation Homes from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $37.00 to $36.00 in a research note on Monday, September 9th. Scotiabank cut their price objective on shares of Invitation Homes from $38.00 to $37.00 and set a “sector perform” rating on the stock in a report on Tuesday, September 10th. Keefe, Bruyette & Woods dropped their price target on Invitation Homes from $38.00 to $37.00 and set a “market perform” rating for the company in a research note on Tuesday, July 30th. UBS Group lifted their target price on shares of Invitation Homes from $41.00 to $42.00 and gave the company a “buy” rating in a report on Friday, August 16th. Finally, Evercore ISI upped their price target on Invitation Homes from $37.00 to $38.00 and gave the stock an “outperform” rating in a report on Monday, September 16th. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $39.00.

Invitation Homes Stock Up 0.1 %

Shares of INVH opened at $35.58 on Tuesday. The company’s 50-day moving average price is $35.83 and its 200 day moving average price is $35.25. Invitation Homes has a 12-month low of $28.49 and a 12-month high of $37.80. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.54. The firm has a market cap of $21.80 billion, a P/E ratio of 40.90, a price-to-earnings-growth ratio of 4.56 and a beta of 1.01.

Invitation Homes (NYSE:INVH) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.34). The company had revenue of $653.45 million during the quarter, compared to analysts’ expectations of $654.70 million. Invitation Homes had a net margin of 18.75% and a return on equity of 4.68%. On average, sell-side analysts forecast that Invitation Homes will post 1.83 earnings per share for the current year.

Hedge Funds Weigh In On Invitation Homes

Several institutional investors have recently modified their holdings of the business. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Invitation Homes by 264.9% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 270,000 shares of the company’s stock worth $9,690,000 after buying an additional 196,000 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Invitation Homes during the second quarter worth approximately $120,000. Sanctuary Advisors LLC bought a new stake in Invitation Homes in the 2nd quarter valued at $200,000. Brown Financial Advisors acquired a new position in shares of Invitation Homes in the second quarter valued at about $321,000. Finally, Point72 Asset Management L.P. increased its holdings in shares of Invitation Homes by 28.8% during the second quarter. Point72 Asset Management L.P. now owns 82,971 shares of the company’s stock worth $2,978,000 after purchasing an additional 18,571 shares during the period. Institutional investors own 96.79% of the company’s stock.

About Invitation Homes

Invitation Homes, an S&P 500 company, is the nation's premier single-family home leasing and management company, meeting changing lifestyle demands by providing access to high-quality, updated homes with valued features such as close proximity to jobs and access to good schools. The company's mission, Together with you, we make a house a home, reflects its commitment to providing homes where individuals and families can thrive and high-touch service that continuously enhances residents' living experiences.