Scotiabank Issues Positive Forecast for Invitation Homes (NYSE:INVH) Stock Price

Invitation Homes (NYSE:INVH - Get Free Report) had its price objective hoisted by research analysts at Scotiabank from $36.00 to $38.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a "sector perform" rating on the stock. Scotiabank's price objective would indicate a potential upside of 10.71% from the company's previous close.

INVH has been the subject of several other reports. Morgan Stanley lowered Invitation Homes from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $39.00 to $35.00 in a research report on Friday, January 24th. Oppenheimer boosted their price target on Invitation Homes from $39.00 to $41.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. Barclays boosted their price target on Invitation Homes from $37.00 to $39.00 and gave the stock an "overweight" rating in a research report on Friday. The Goldman Sachs Group boosted their price target on Invitation Homes from $39.00 to $43.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Finally, Keefe, Bruyette & Woods upped their target price on Invitation Homes from $36.00 to $37.00 and gave the company a "market perform" rating in a research report on Monday, May 5th. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $37.94.

Invitation Homes Trading Down 1.3%

INVH traded down $0.45 during trading hours on Monday, reaching $34.33. 815,266 shares of the company's stock traded hands, compared to its average volume of 3,303,377. The firm has a 50-day moving average price of $33.67 and a 200 day moving average price of $32.83. Invitation Homes has a 52-week low of $29.37 and a 52-week high of $37.80. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $21.04 billion, a PE ratio of 48.39, a PEG ratio of 4.70 and a beta of 0.87.

Invitation Homes (NYSE:INVH - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.01. Invitation Homes had a return on equity of 4.36% and a net margin of 17.02%. The business had revenue of $674.48 million during the quarter, compared to analysts' expectations of $663.77 million. During the same period in the prior year, the business earned $0.47 EPS. The business's revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, sell-side analysts predict that Invitation Homes will post 1.83 EPS for the current fiscal year.

Institutional Investors Weigh In On Invitation Homes

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Zions Bancorporation National Association UT purchased a new stake in Invitation Homes in the first quarter valued at approximately $40,000. National Bank of Canada FI lifted its stake in Invitation Homes by 61.1% in the first quarter. National Bank of Canada FI now owns 429,924 shares of the company's stock valued at $14,983,000 after buying an additional 163,128 shares during the last quarter. Citigroup Inc. lifted its stake in Invitation Homes by 15.7% in the first quarter. Citigroup Inc. now owns 553,326 shares of the company's stock valued at $19,283,000 after buying an additional 75,058 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Invitation Homes by 8.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,436,517 shares of the company's stock valued at $50,063,000 after purchasing an additional 110,892 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Invitation Homes by 1.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 6,664,294 shares of the company's stock valued at $232,251,000 after purchasing an additional 65,843 shares during the period. Hedge funds and other institutional investors own 96.79% of the company's stock.

About Invitation Homes

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.

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