Scotiabank Lowers Invitation Home (NYSE:INVH) Price Target to $36.00

Key Points

• Scotiabank has lowered Invitation Home's price target from $38.00 to $36.00 but maintains a "sector performer" rating, indicating a potential upside of 16.71% from the current price.
• Other analysts have mixed opinions, with some lowering their targets, such as Royal Bank of Canada reducing its target to $34.00, while Goldman Sachs raised their target to $43.00.
• Invitation Home reported earnings of $0.48 per share, meeting consensus estimates, with revenues showing a 4.3% year-over-year increase.

Invitation Home (NYSE:INVH - Free Report) had its price objective lowered by Scotiabank from $38.00 to $36.00 in a research note published on Thursday morning,Benzinga reports. The brokerage currently has a sector performer rating on the stock.

Several other analysts have also recently commented on INVH. Citigroup raised Invitation Home from a "neutral" rating to a "buy" rating and raised their target price for the stock from $35.00 to $38.50 in a research report on Friday, June 6th. Oppenheimer raised their target price on Invitation Home from $39.00 to $41.00 and gave the company an "outperform" rating in a report on Tuesday, May 6th. Royal Bank Of Canada cut their target price on Invitation Home from $35.00 to $34.00 and set a "sector perform" rating on the stock in a report on Friday, August 1st. Keefe, Bruyette & Woods dropped their price objective on Invitation Home from $37.00 to $33.00 and set a "market perform" rating on the stock in a research note on Wednesday, August 6th. Finally, The Goldman Sachs Group lifted their target price on Invitation Home from $39.00 to $43.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Eight analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat, Invitation Home has an average rating of "Hold" and an average target price of $36.85.

Invitation Home Price Performance

NYSE INVH traded down $0.82 on Thursday, reaching $30.47. 1,302,100 shares of the stock traded hands, compared to its average volume of 3,301,820. The firm's fifty day simple moving average is $31.53 and its 200 day simple moving average is $32.81. The company has a quick ratio of 0.02, a current ratio of 0.02 and a debt-to-equity ratio of 0.47. The company has a market cap of $18.68 billion, a price-to-earnings ratio of 34.63, a P/E/G ratio of 3.13 and a beta of 0.82. Invitation Home has a 12 month low of $29.37 and a 12 month high of $37.80.

Invitation Home (NYSE:INVH - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.48 earnings per share for the quarter, hitting the consensus estimate of $0.48. The business had revenue of $681.40 million during the quarter, compared to analyst estimates of $675.01 million. Invitation Home had a return on equity of 5.56% and a net margin of 20.36%.The company's revenue was up 4.3% compared to the same quarter last year. During the same period last year, the company posted $0.47 EPS. Invitation Home has set its FY 2025 guidance at 1.880-1.940 EPS. As a group, research analysts predict that Invitation Home will post 1.83 EPS for the current fiscal year.

Invitation Home Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, June 26th were given a dividend of $0.29 per share. The ex-dividend date was Thursday, June 26th. This represents a $1.16 annualized dividend and a dividend yield of 3.8%. Invitation Home's payout ratio is presently 131.82%.

Insider Activity at Invitation Home

In related news, CEO Dallas B. Tanner sold 148,749 shares of the company's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $33.41, for a total value of $4,969,704.09. Following the completion of the sale, the chief executive officer owned 642,973 shares in the company, valued at $21,481,727.93. This represents a 18.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Invitation Home

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Invitation Home by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 95,026,266 shares of the company's stock worth $3,116,862,000 after purchasing an additional 719,365 shares during the period. Norges Bank bought a new stake in shares of Invitation Home in the 2nd quarter valued at about $1,693,992,000. State Street Corp raised its holdings in shares of Invitation Home by 1.3% in the 2nd quarter. State Street Corp now owns 36,159,024 shares of the company's stock valued at $1,196,334,000 after purchasing an additional 460,747 shares during the period. Geode Capital Management LLC raised its holdings in Invitation Home by 2.0% in the 2nd quarter. Geode Capital Management LLC now owns 15,855,732 shares of the company's stock valued at $518,018,000 after acquiring an additional 309,953 shares during the period. Finally, Daiwa Securities Group Inc. raised its holdings in Invitation Home by 4.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 13,319,490 shares of the company's stock valued at $436,880,000 after acquiring an additional 514,100 shares during the period. 96.79% of the stock is owned by institutional investors and hedge funds.

About Invitation Home

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.