Equities research analysts expect Invitation Homes Inc (NYSE:INVH) to post $448.11 million in sales for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Invitation Homes’ earnings, with the highest sales estimate coming in at $467.23 million and the lowest estimate coming in at $441.86 million. Invitation Homes reported sales of $434.25 million during the same quarter last year, which indicates a positive year over year growth rate of 3.2%. The company is scheduled to report its next earnings results on Monday, November 4th.
On average, analysts expect that Invitation Homes will report full-year sales of $1.78 billion for the current year, with estimates ranging from $1.76 billion to $1.83 billion. For the next financial year, analysts forecast that the business will report sales of $1.86 billion, with estimates ranging from $1.82 billion to $1.94 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Invitation Homes.
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). Invitation Homes had a net margin of 4.91% and a return on equity of 1.42%. The business had revenue of $442.00 million during the quarter, compared to analyst estimates of $442.81 million. During the same quarter last year, the company posted $0.29 earnings per share. The company’s revenue was up 2.3% on a year-over-year basis.
Several equities research analysts recently weighed in on INVH shares. Zacks Investment Research raised shares of Invitation Homes from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research report on Wednesday, June 19th. Raymond James upped their price objective on shares of 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 cut shares of Invitation Homes from an “outperform” rating to an “in-line” rating in a research report on Monday, June 10th. Keefe, Bruyette & Woods cut shares of Invitation Homes from an “outperform” rating to a “market perform” rating and set a $28.50 price objective for the company. in a research report on Friday, July 19th. Finally, BTIG Research set a $27.00 price objective on shares of Invitation Homes and gave the stock a “buy” rating in a research report on Tuesday, May 14th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $27.92.
Shares of INVH stock traded up $0.47 on Monday, hitting $28.32. The company’s stock had a trading volume of 5,234,700 shares, compared to its average volume of 3,380,178. Invitation Homes has a fifty-two week low of $19.21 and a fifty-two week high of $28.42. The stock’s 50 day moving average is $27.51 and its 200-day moving average is $25.34. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.34 and a current ratio of 0.34. The company has a market capitalization of $14.85 billion, a PE ratio of 123.13, a PEG ratio of 2.92 and a beta of 0.42.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Thursday, August 15th will be given a dividend of $0.13 per share. The ex-dividend date is Wednesday, August 14th. This represents a $0.52 annualized dividend and a yield of 1.84%. Invitation Homes’s dividend payout ratio is 226.09%.
In other news, major shareholder Holdings L.P. Blackstone II sold 37,500,000 shares of the stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $27.43, for a total value of $1,028,625,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Brep Ih6 Holdings Llc sold 40,000,000 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $25.21, for a total transaction of $1,008,400,000.00. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Metropolitan Life Insurance Co NY lifted its holdings in shares of Invitation Homes by 3.5% in the first quarter. Metropolitan Life Insurance Co NY now owns 23,903 shares of the company’s stock worth $581,000 after acquiring an additional 809 shares during the last quarter. Strs Ohio lifted its holdings in shares of Invitation Homes by 1.4% in the first quarter. Strs Ohio now owns 478,641 shares of the company’s stock worth $11,645,000 after acquiring an additional 6,557 shares during the last quarter. Gulf International Bank UK Ltd raised its holdings in Invitation Homes by 62.0% in the 2nd quarter. Gulf International Bank UK Ltd now owns 110,826 shares of the company’s stock valued at $2,962,000 after buying an additional 42,400 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in Invitation Homes by 15.5% in the 1st quarter. State of Alaska Department of Revenue now owns 149,830 shares of the company’s stock valued at $3,644,000 after buying an additional 20,098 shares during the last quarter. Finally, Pictet Asset Management Ltd. raised its holdings in Invitation Homes by 31.0% in the 1st quarter. Pictet Asset Management Ltd. now owns 199,666 shares of the company’s stock valued at $4,858,000 after buying an additional 47,200 shares during the last quarter.
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.
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