Invitation Homes (NYSE:INVH) Releases FY 2024 Earnings Guidance

Invitation Homes (NYSE:INVH) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 1.860-1.900 for the period, compared to the consensus earnings per share estimate of 1.880. The company issued revenue guidance of -. Invitation Homes also updated its FY24 guidance to $1.86 to $1.90 EPS.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. The Goldman Sachs Group assumed coverage on Invitation Homes in a research note on Wednesday, September 4th. They issued a “buy” rating and a $46.00 price objective for the company. Wells Fargo & Company cut Invitation Homes from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $37.00 to $38.00 in a research report on Monday, August 26th. Evercore ISI lifted their target price on Invitation Homes from $37.00 to $38.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. Bank of America cut Invitation Homes from a “buy” rating to a “neutral” rating and cut their target price for the company from $39.00 to $37.00 in a research report on Tuesday, September 24th. Finally, Mizuho cut their target price on Invitation Homes from $36.00 to $35.00 and set a “neutral” rating on the stock in a research report on Thursday, October 10th. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Invitation Homes presently has a consensus rating of “Moderate Buy” and an average target price of $39.00.

Invitation Homes Price Performance

Invitation Homes stock traded up $0.04 during midday trading on Wednesday, hitting $33.25. 5,984,136 shares of the company’s stock were exchanged, compared to its average volume of 3,341,784. Invitation Homes has a 52-week low of $29.23 and a 52-week high of $37.80. The stock has a 50-day moving average price of $35.23 and a two-hundred day moving average price of $35.12. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.20 and a current ratio of 0.20. The company has a market cap of $20.37 billion, a P/E ratio of 38.22, a PEG ratio of 4.82 and a beta of 1.01.

Invitation Homes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, September 26th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date of this dividend was Thursday, September 26th. Invitation Homes’s payout ratio is currently 128.74%.

Invitation Homes Company Profile

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.