Invitation Homes (NYSE:INVH) Price Target Cut to $37.00

Invitation Homes (NYSE:INVH) had its target price cut by stock analysts at Royal Bank of Canada from $39.00 to $37.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 8.79% from the stock’s previous close.

A number of other research firms have also recently weighed in on INVH. Mizuho reduced their price objective on shares of Invitation Homes from $37.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, June 3rd. Scotiabank increased their target price on shares of Invitation Homes from $36.00 to $38.00 and gave the company a “sector perform” rating in a research report on Thursday, May 16th. Deutsche Bank Aktiengesellschaft upgraded shares of Invitation Homes from a “hold” rating to a “buy” rating and increased their target price for the company from $35.00 to $41.00 in a research report on Wednesday. Raymond James increased their target price on shares of Invitation Homes from $37.00 to $39.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. Finally, JPMorgan Chase & Co. increased their target price on shares of Invitation Homes from $35.00 to $36.00 and gave the company a “neutral” rating in a research report on Monday, June 17th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $38.44.

Invitation Homes Stock Performance

Shares of INVH traded up $0.81 during trading hours on Friday, hitting $34.01. The stock had a trading volume of 438,552 shares, compared to its average volume of 3,191,607. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.21 and a current ratio of 0.21. The firm has a 50-day moving average price of $35.37 and a 200 day moving average price of $34.52. Invitation Homes has a fifty-two week low of $28.49 and a fifty-two week high of $36.92. The firm has a market capitalization of $20.83 billion, a price-to-earnings ratio of 39.09, a PEG ratio of 2.21 and a beta of 0.99.

Invitation Homes (NYSE:INVH) last posted its earnings results on Tuesday, April 30th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.22). The firm had revenue of $646.04 million during the quarter, compared to analyst estimates of $630.97 million. Invitation Homes had a net margin of 18.75% and a return on equity of 4.67%. As a group, research analysts anticipate that Invitation Homes will post 1.83 EPS for the current year.

Insiders Place Their Bets

In other Invitation Homes news, Director Cohen Jana Barbe sold 7,200 shares of the stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $34.58, for a total transaction of $248,976.00. Following the completion of the transaction, the director now owns 28,068 shares of the company’s stock, valued at $970,591.44. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Invitation Homes news, COO Charles D. Young sold 5,000 shares of the stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $34.85, for a total transaction of $174,250.00. Following the completion of the transaction, the chief operating officer now owns 275,296 shares of the company’s stock, valued at $9,594,065.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Cohen Jana Barbe sold 7,200 shares of the stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $34.58, for a total transaction of $248,976.00. Following the transaction, the director now directly owns 28,068 shares of the company’s stock, valued at approximately $970,591.44. The disclosure for this sale can be found here. 0.28% of the stock is currently owned by insiders.

Institutional Trading of Invitation Homes

Several hedge funds have recently made changes to their positions in the business. BOK Financial Private Wealth Inc. acquired a new stake in Invitation Homes in the first quarter valued at approximately $26,000. Family Firm Inc. acquired a new stake in Invitation Homes in the second quarter valued at approximately $42,000. Creekmur Asset Management LLC acquired a new stake in Invitation Homes in the fourth quarter valued at approximately $46,000. Blue Trust Inc. raised its holdings in Invitation Homes by 644.7% in the second quarter. Blue Trust Inc. now owns 1,549 shares of the company’s stock valued at $55,000 after acquiring an additional 1,341 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its holdings in Invitation Homes by 96.5% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,161 shares of the company’s stock valued at $74,000 after acquiring an additional 1,061 shares in the last quarter. Institutional investors and hedge funds own 96.79% of the company’s stock.

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.