Invitation Homes (NYSE:INVH) Releases FY24 Earnings Guidance

Invitation Homes (NYSE:INVH) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $1.82-$1.90 for the period, compared to the consensus earnings per share estimate of $1.87. Invitation Homes also updated its FY 2024 guidance to 1.820-1.900 EPS.

Invitation Homes Price Performance

Shares of NYSE INVH traded down $0.38 on Tuesday, hitting $34.20. The company’s stock had a trading volume of 4,314,652 shares, compared to its average volume of 3,134,835. The company has a market capitalization of $20.95 billion, a price-to-earnings ratio of 41.17, a price-to-earnings-growth ratio of 2.05 and a beta of 0.94. The stock has a 50 day moving average of $34.42 and a 200-day moving average of $33.46. Invitation Homes has a 12-month low of $28.49 and a 12-month high of $36.53. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.20 and a quick ratio of 0.20.

Invitation Homes (NYSE:INVH) last released its earnings results on Tuesday, February 13th. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.23). The business had revenue of $624.32 million for the quarter, compared to analysts’ expectations of $623.51 million. Invitation Homes had a net margin of 21.34% and a return on equity of 5.06%. As a group, research analysts predict that Invitation Homes will post 1.83 EPS for the current year.

Invitation Homes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Thursday, March 28th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 3.27%. The ex-dividend date of this dividend was Wednesday, March 27th. Invitation Homes’s dividend payout ratio is 133.33%.

Analyst Upgrades and Downgrades

INVH has been the topic of several analyst reports. Evercore ISI reissued an in-line rating and set a $36.00 target price on shares of Invitation Homes in a research report on Monday, March 18th. JMP Securities reissued a market outperform rating and issued a $40.00 price objective on shares of Invitation Homes in a research note on Thursday, March 7th. Royal Bank of Canada reiterated an outperform rating and set a $36.00 price target on shares of Invitation Homes in a report on Thursday, February 15th. BNP Paribas started coverage on shares of Invitation Homes in a research report on Monday, January 22nd. They issued an outperform rating and a $39.00 price target on the stock. Finally, Oppenheimer increased their target price on Invitation Homes from $35.00 to $40.00 and gave the company an outperform rating in a research note on Friday, January 5th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Invitation Homes presently has a consensus rating of Moderate Buy and a consensus price target of $38.19.

Insider Transactions at Invitation Homes

In other news, CFO Jonathan S. Olsen sold 10,000 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $34.75, for a total transaction of $347,500.00. Following the sale, the chief financial officer now owns 37,037 shares in the company, valued at $1,287,035.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.28% of the stock is owned by company insiders.

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.