Morgan Stanley Increases Invitation Homes (NYSE:INVH) Price Target to $35.00

Invitation Homes (NYSE:INVH) had its price objective increased by Morgan Stanley from $31.00 to $35.00 in a research note published on Wednesday morning, BenzingaRatingsTable reports. Morgan Stanley currently has an overweight rating on the stock.

A number of other brokerages have also recently weighed in on INVH. Keefe, Bruyette & Woods cut shares of Invitation Homes from an outperform rating to a market perform rating and set a $28.50 price objective for the company. in a research note on Friday, July 19th. ValuEngine lowered shares of Invitation Homes from a hold rating to a sell rating in a research report on Wednesday, October 2nd. Zacks Investment Research upgraded shares of Invitation Homes from a sell rating to a hold rating in a research report on Tuesday, October 8th. Credit Suisse Group raised their target price on shares of Invitation Homes from $28.50 to $32.00 and gave the stock an outperform rating in a research report on Wednesday, October 2nd. Finally, Royal Bank of Canada raised their target price on shares of Invitation Homes to $30.00 and gave the stock an outperform rating in a research report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Invitation Homes currently has a consensus rating of Buy and a consensus target price of $29.45.

Shares of INVH traded down $0.10 during mid-day trading on Wednesday, reaching $30.25. 2,341,081 shares of the company’s stock were exchanged, compared to its average volume of 5,890,961. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 1.13. The company has a 50-day simple moving average of $29.08 and a two-hundred day simple moving average of $26.91. Invitation Homes has a 52-week low of $19.21 and a 52-week high of $30.56. The company has a market cap of $16.32 billion, a price-to-earnings ratio of 131.52, a PEG ratio of 3.30 and a beta of 0.39.

Invitation Homes (NYSE:INVH) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.24). Invitation Homes had a return on equity of 1.42% and a net margin of 4.91%. The business had revenue of $442.00 million for the quarter, compared to analysts’ expectations of $442.81 million. During the same period last year, the business earned $0.29 earnings per share. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, equities research analysts predict that Invitation Homes will post 1.23 EPS for the current fiscal year.

In other Invitation Homes news, major shareholder Real Estate Partner Blackstone sold 44,000,000 shares of Invitation Homes stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $28.18, for a total value of $1,239,920,000.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Ernest Michael Freedman sold 31,892 shares of Invitation Homes stock in a transaction on Monday, August 19th. The shares were sold at an average price of $28.41, for a total transaction of $906,051.72. Following the completion of the transaction, the chief financial officer now owns 342,786 shares in the company, valued at approximately $9,738,550.26. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,061,892 shares of company stock worth $1,241,696,352. 0.25% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in INVH. CSat Investment Advisory L.P. acquired a new position in shares of Invitation Homes during the 2nd quarter valued at $37,000. NEXT Financial Group Inc lifted its holdings in shares of Invitation Homes by 18.1% during the 2nd quarter. NEXT Financial Group Inc now owns 2,919 shares of the company’s stock valued at $78,000 after acquiring an additional 447 shares in the last quarter. Whittier Trust Co. acquired a new position in shares of Invitation Homes during the 2nd quarter valued at $83,000. North Star Investment Management Corp. acquired a new position in shares of Invitation Homes during the 3rd quarter valued at $139,000. Finally, Steward Partners Investment Advisory LLC acquired a new position in shares of Invitation Homes during the 2nd quarter valued at $194,000.

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.

Featured Story: Earnings Reports

Analyst Recommendations for Invitation Homes (NYSE:INVH)

Receive News & Ratings for Invitation Homes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Invitation Homes and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit