Royal Bank of Canada Increases Invitation Homes (NYSE:INVH) Price Target to $30.00

Invitation Homes (NYSE:INVH) had its price target boosted by Royal Bank of Canada to $30.00 in a report issued on Tuesday, The Fly reports. Royal Bank of Canada currently has an outperform rating on the stock.

Other research analysts have also issued research reports about the company. Keefe, Bruyette & Woods lowered Invitation Homes from an outperform rating to a market perform rating and set a $28.50 price target for the company. in a research report on Friday, July 19th. BTIG Research set a $27.00 price target on Invitation Homes and gave the stock a buy rating in a research report on Tuesday, May 14th. Raymond James lifted their price target on Invitation Homes from $27.00 to $30.00 and gave the stock a strong-buy rating in a research report on Wednesday, May 15th. Evercore ISI lowered Invitation Homes from an outperform rating to an in-line rating in a research report on Monday, June 10th. Finally, B. Riley set a $30.00 price target on Invitation Homes and gave the stock a buy rating in a research report on Friday, August 16th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $28.44.

INVH opened at $28.59 on Tuesday. The firm has a market cap of $15.36 billion, a P/E ratio of 129.82, a P/E/G ratio of 3.02 and a beta of 0.42. Invitation Homes has a 12 month low of $19.21 and a 12 month high of $29.13. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 1.13. The stock has a 50-day moving average of $27.73 and a 200 day moving average of $25.51.

Invitation Homes (NYSE:INVH) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.07 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.24). The company had revenue of $442.00 million during the quarter, compared to analysts’ expectations of $442.81 million. Invitation Homes had a return on equity of 1.42% and a net margin of 4.91%. The company’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.29 EPS. On average, research analysts forecast that Invitation Homes will post 1.27 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Thursday, August 15th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $0.52 annualized dividend and a dividend yield of 1.82%. Invitation Homes’s dividend payout ratio (DPR) is presently 226.09%.

In other Invitation Homes news, CFO Ernest Michael Freedman sold 31,892 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $28.41, for a total transaction of $906,051.72. Following the completion of the transaction, the chief financial officer now owns 342,786 shares in the company, valued at $9,738,550.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Brep Ih6 Holdings Llc sold 40,000,000 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $25.21, for a total value of $1,008,400,000.00. The disclosure for this sale can be found here. Insiders have sold 77,531,892 shares of company stock valued at $2,037,931,052 in the last 90 days. Company insiders own 0.25% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Metropolitan Life Insurance Co NY raised its stake in shares of Invitation Homes by 3.5% during the first quarter. Metropolitan Life Insurance Co NY now owns 23,903 shares of the company’s stock valued at $581,000 after acquiring an additional 809 shares in the last quarter. Strs Ohio raised its stake in shares of Invitation Homes by 1.4% during the first quarter. Strs Ohio now owns 478,641 shares of the company’s stock valued at $11,645,000 after acquiring an additional 6,557 shares in the last quarter. Gulf International Bank UK Ltd raised its stake in shares of Invitation Homes by 62.0% during the second quarter. Gulf International Bank UK Ltd now owns 110,826 shares of the company’s stock valued at $2,962,000 after acquiring an additional 42,400 shares in the last quarter. Pictet Asset Management Ltd. raised its stake in shares of Invitation Homes by 31.0% during the first quarter. Pictet Asset Management Ltd. now owns 199,666 shares of the company’s stock valued at $4,858,000 after acquiring an additional 47,200 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its stake in shares of Invitation Homes by 1.7% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 28,274 shares of the company’s stock valued at $688,000 after acquiring an additional 467 shares in the last quarter.

About Invitation Homes

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.

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