Invitation Homes (NYSE:INVH) Issues Earnings Results, Beats Estimates By $0.30 EPS

Key Points

• Invitation Homes beat earnings expectations: The company reported quarterly EPS of $0.48, exceeding analysts’ $0.18 consensus estimate by $0.30. Revenue totaled $731.28 million, slightly below the $742.55 million forecast.
• Shares declined 1.8% to $26.70 following the results, while the company’s market capitalization stood at approximately $15.77 billion.
• Invitation Homes paid a quarterly dividend of $0.30 per share, equal to an annualized $1.20 and a 4.5% yield. Analysts maintain a consensus “Hold” rating with an average price target of $32.00.

Invitation Homes (NYSE:INVH - Get Free Report) announced its earnings results on Wednesday. The company reported $0.48 earnings per share for the quarter, topping analysts' consensus estimates of $0.18 by $0.30, Zacks reports. The firm had revenue of $731.28 million during the quarter, compared to analyst estimates of $742.55 million. Invitation Homes had a net margin of 23.13% and a return on equity of 7.22%.

Invitation Homes Stock Down 1.8%

Invitation Homes stock traded down $0.49 during mid-day trading on Wednesday, reaching $26.70. The company's stock had a trading volume of 4,936,697 shares, compared to its average volume of 5,757,713. The company has a market capitalization of $15.77 billion, a price-to-earnings ratio of 24.49, a price-to-earnings-growth ratio of 4.10 and a beta of 0.82. Invitation Homes has a 12 month low of $24.25 and a 12 month high of $30.89. The business's 50 day simple moving average is $27.66 and its 200 day simple moving average is $27.79. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.02 and a current ratio of 0.02.

Invitation Homes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Thursday, September 24th were issued a dividend of $0.30 per share. The ex-dividend date was Thursday, September 24th. This represents a $1.20 annualized dividend and a yield of 4.5%. Invitation Homes's dividend payout ratio is presently 110.09%.

Wall Street Analyst Weigh In

INVH has been the topic of several recent research reports. Wells Fargo & Company dropped their price target on Invitation Homes from $33.00 to $30.00 and set an "overweight" rating on the stock in a research note on Monday, October 19th. UBS Group reduced their price objective on Invitation Homes from $35.00 to $31.00 and set a "buy" rating for the company in a research report on Monday, October 12th. BTIG Research set a $32.00 price objective on Invitation Homes in a research report on Monday, September 21st. Royal Bank Of Canada decreased their price objective on Invitation Homes from $31.00 to $29.00 and set a "sector perform" rating for the company in a report on Tuesday, October 13th. Finally, Scotiabank dropped their target price on Invitation Homes from $30.00 to $28.00 and set a "sector perform" rating on the stock in a research report on Thursday, September 17th. Eleven investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $32.00.

Invitation Homes Company Profile

Invitation Homes Inc NYSE: INVH is a real estate investment trust that owns, leases and operates single-family homes in the United States. The company provides professionally managed rental housing for individuals and families, with properties generally located in suburban communities and metropolitan areas.

The company’s services include home leasing, property management, resident support, maintenance and renovations. Invitation Homes uses technology and centralized operating systems to market homes, manage lease agreements, collect rent and coordinate property care.

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