Invitation Homes (NYSE:INVH) Releases FY 2024 Earnings Guidance

Invitation Homes (NYSE:INVH) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 1.820-1.900 for the period, compared to the consensus earnings per share estimate of 1.870. The company issued revenue guidance of -. Invitation Homes also updated its FY24 guidance to $1.82-$1.90 EPS.

Invitation Homes Stock Performance

Shares of NYSE:INVH traded down $0.38 during midday trading on Tuesday, reaching $34.20. 4,314,652 shares of the company traded hands, compared to its average volume of 3,134,835. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.53. Invitation Homes has a 12 month low of $28.49 and a 12 month high of $36.53. The firm has a market capitalization of $20.95 billion, a price-to-earnings ratio of 40.71, a price-to-earnings-growth ratio of 2.05 and a beta of 0.94. The firm’s fifty day moving average price is $34.45 and its two-hundred day moving average price is $33.47.

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

Invitation Homes Dividend Announcement

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

Wall Street Analyst Weigh In

INVH has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Invitation Homes in a research report on Tuesday, January 30th. They set a hold rating and a $35.00 target price for the company. Royal Bank of Canada reiterated an outperform rating and issued a $36.00 price objective on shares of Invitation Homes in a report on Thursday, February 15th. Citigroup reiterated a neutral rating and issued a $39.00 price objective on shares of Invitation Homes in a report on Friday, March 22nd. JMP Securities reiterated a market outperform rating and issued a $40.00 price objective on shares of Invitation Homes in a report on Thursday, March 7th. Finally, KeyCorp upped their price objective on Invitation Homes from $35.00 to $38.00 and gave the stock an overweight rating in a report on Friday, January 5th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Invitation Homes has a consensus rating of Moderate Buy and a consensus price target of $38.19.

Insider Activity at Invitation Homes

In related news, CFO Jonathan S. Olsen sold 10,000 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $34.75, for a total value of $347,500.00. Following the completion of the transaction, the chief financial officer now directly owns 37,037 shares of the company’s stock, valued at $1,287,035.75. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.28% of the stock is currently owned by company insiders.

Invitation Homes Company Profile

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.