Invitation Homes (NYSE:INVH) Hits New 52-Week High on Analyst Upgrade

Shares of Invitation Homes Inc (NYSE:INVH) reached a new 52-week high on Wednesday after Morgan Stanley raised their price target on the stock from $31.00 to $35.00. Morgan Stanley currently has an overweight rating on the stock. Invitation Homes traded as high as $30.15 and last traded at $30.10, with a volume of 112887 shares traded. The stock had previously closed at $29.70.

INVH has been the subject of several other research reports. Credit Suisse Group boosted their target price on Invitation Homes from $28.50 to $32.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. B. Riley set a $30.00 target price on Invitation Homes and gave the stock a “buy” rating in a research note on Friday, August 16th. Zacks Investment Research upgraded Invitation Homes from a “sell” rating to a “hold” rating in a research note on Tuesday. ValuEngine cut Invitation Homes from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Finally, Royal Bank of Canada boosted their target price on Invitation Homes to $30.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 20th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Invitation Homes has an average rating of “Buy” and an average price target of $29.45.

In other Invitation Homes news, EVP Mark A. Solls sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $29.01, for a total value of $870,300.00. Following the completion of the sale, the executive vice president now owns 94,858 shares in the company, valued at $2,751,830.58. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Real Estate Partner Blackstone sold 44,000,000 shares of the business’s stock in a transaction that occurred 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 disclosure for this sale can be found here. In the last quarter, insiders sold 44,061,892 shares of company stock valued at $1,241,696,352. 0.25% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. NEXT Financial Group Inc lifted its stake in Invitation Homes by 18.1% in the second quarter. NEXT Financial Group Inc now owns 2,919 shares of the company’s stock valued at $78,000 after buying an additional 447 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Invitation Homes by 1.7% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 28,274 shares of the company’s stock valued at $688,000 after purchasing an additional 467 shares during the period. First Hawaiian Bank increased its holdings in shares of Invitation Homes by 3.1% in the third quarter. First Hawaiian Bank now owns 16,580 shares of the company’s stock valued at $491,000 after purchasing an additional 500 shares during the period. Metropolitan Life Insurance Co NY increased its holdings in shares of Invitation Homes by 3.5% in the first quarter. Metropolitan Life Insurance Co NY now owns 23,903 shares of the company’s stock valued at $581,000 after purchasing an additional 809 shares during the period. Finally, Royal London Asset Management Ltd. increased its holdings in shares of Invitation Homes by 0.7% in the second quarter. Royal London Asset Management Ltd. now owns 122,725 shares of the company’s stock valued at $3,279,000 after purchasing an additional 898 shares during the period.

The firm has a market cap of $16.18 billion, a price-to-earnings ratio of 130.74, a price-to-earnings-growth ratio of 3.27 and a beta of 0.39. 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 stock has a fifty day moving average price of $28.97 and a 200-day moving average price of $26.81.

Invitation Homes (NYSE:INVH) last released its earnings results on Tuesday, July 30th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.24). The company had revenue of $442.00 million during the quarter, compared to analyst estimates of $442.81 million. Invitation Homes had a net margin of 4.91% and a return on equity of 1.42%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.29 EPS. As a group, research analysts expect that Invitation Homes Inc will post 1.23 earnings per share for the current year.

Invitation Homes Company Profile (NYSE:INVH)

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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