Wall Street brokerages expect Invitation Homes Inc (NYSE:INVH) to announce sales of $448.74 million for the current quarter, Zacks reports. Six analysts have issued estimates for Invitation Homes’ earnings, with the lowest sales estimate coming in at $441.86 million and the highest estimate coming in at $467.22 million. Invitation Homes posted sales of $434.25 million during the same quarter last year, which suggests a positive year over year growth rate of 3.3%. The business is expected to report its next earnings report on Monday, November 4th.
On average, analysts expect that Invitation Homes will report full-year sales of $1.78 billion for the current financial year, with estimates ranging from $1.77 billion to $1.82 billion. For the next year, analysts expect that the company will post sales of $1.86 billion, with estimates ranging from $1.83 billion to $1.95 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Invitation Homes.
Invitation Homes (NYSE:INVH) last posted its earnings results on Tuesday, July 30th. The company reported $0.07 EPS for the quarter, missing the Zacks’ 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 for the quarter, compared to analyst estimates of $442.81 million. During the same quarter last year, the business earned $0.29 earnings per share. Invitation Homes’s revenue was up 2.3% on a year-over-year basis.
INVH has been the topic of several research analyst reports. Raymond James lifted their price objective on Invitation Homes from $27.00 to $30.00 and gave the stock a “strong-buy” rating in a report on Wednesday, May 15th. Keefe, Bruyette & Woods cut Invitation Homes from an “outperform” rating to a “market perform” rating and set a $28.50 price objective on the stock. in a report on Friday, July 19th. B. Riley set a $30.00 price objective on Invitation Homes and gave the stock a “buy” rating in a report on Friday, August 16th. Zacks Investment Research upgraded Invitation Homes from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a report on Wednesday, June 19th. Finally, BTIG Research set a $27.00 price objective on Invitation Homes and gave the stock a “buy” rating in a report on Tuesday, May 14th. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $28.44.
INVH stock traded up $0.07 during trading on Tuesday, hitting $28.68. The stock had a trading volume of 109,535 shares, compared to its average volume of 3,178,401. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.34 and a quick ratio of 0.34. Invitation Homes has a twelve month low of $19.21 and a twelve month high of $29.33. The stock has a market capitalization of $15.47 billion, a P/E ratio of 124.67, a PEG ratio of 3.07 and a beta of 0.39. The company’s 50-day moving average price is $28.01 and its two-hundred day moving average price is $25.89.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 15th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date was Wednesday, August 14th. Invitation Homes’s dividend payout ratio (DPR) is 226.09%.
In other Invitation Homes news, EVP Mark A. Solls sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $29.01, for a total value of $870,300.00. Following the transaction, the executive vice president now directly owns 94,858 shares of the company’s stock, valued at approximately $2,751,830.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Holdings L.P. Blackstone II sold 37,500,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $27.43, for a total transaction of $1,028,625,000.00. The disclosure for this sale can be found here. Insiders sold a total of 37,561,892 shares of company stock worth $1,030,401,352 over the last three months. Corporate insiders own 0.25% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Metropolitan Life Insurance Co NY raised its position in shares of Invitation Homes by 3.5% during the 1st quarter. Metropolitan Life Insurance Co NY now owns 23,903 shares of the company’s stock valued at $581,000 after buying an additional 809 shares during the period. Gulf International Bank UK Ltd raised its position in shares of Invitation Homes by 62.0% during 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 period. Centersquare Investment Management LLC raised its position in shares of Invitation Homes by 41.3% during the 2nd quarter. Centersquare Investment Management LLC now owns 6,232,985 shares of the company’s stock valued at $166,608,000 after buying an additional 1,820,464 shares during the period. Pictet Asset Management Ltd. raised its position in shares of Invitation Homes by 31.0% during 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 period. Finally, Penn Capital Management Co. Inc. raised its position in shares of Invitation Homes by 182.9% during the 1st quarter. Penn Capital Management Co. Inc. now owns 130,476 shares of the company’s stock valued at $3,174,000 after buying an additional 84,349 shares during the period.
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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