Invitation Homes (INVH) Issues Earnings Results, Meets Estimates

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Invitation Homes (NYSE:INVH) announced its quarterly earnings data on Monday. The company reported $0.29 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.29, reports. Invitation Homes had a negative return on equity of 0.98% and a negative net margin of 6.99%. The firm had revenue of $434.20 million for the quarter, compared to the consensus estimate of $436.18 million. During the same quarter last year, the business posted $0.20 earnings per share. The firm’s revenue was up 78.3% compared to the same quarter last year. Invitation Homes updated its FY 2018 guidance to $1.16-1.18 EPS and its FY18 guidance to $1.16-1.18 EPS.

NYSE:INVH traded up $0.32 on Wednesday, reaching $21.35. The company’s stock had a trading volume of 57,439 shares, compared to its average volume of 1,869,097. Invitation Homes has a 12-month low of $20.25 and a 12-month high of $24.30. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 1.14. The company has a market capitalization of $11.05 billion, a P/E ratio of 82.23, a P/E/G ratio of 3.15 and a beta of 0.03.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Wednesday, November 14th will be given a $0.11 dividend. The ex-dividend date of this dividend is Tuesday, November 13th. This represents a $0.44 dividend on an annualized basis and a yield of 2.06%. Invitation Homes’s dividend payout ratio is currently 169.23%.

In other Invitation Homes news, Director Barry S. Sternlicht sold 1,309,849 shares of Invitation Homes stock in a transaction on Friday, September 14th. The stock was sold at an average price of $23.55, for a total value of $30,846,943.95. Following the sale, the director now owns 5,482 shares in the company, valued at $129,101.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the business. Bank of Montreal Can raised its position in Invitation Homes by 338.8% in the third quarter. Bank of Montreal Can now owns 4,555 shares of the company’s stock valued at $104,000 after purchasing an additional 3,517 shares during the period. Point72 Hong Kong Ltd purchased a new stake in shares of Invitation Homes in the 2nd quarter valued at $175,000. Signition LP purchased a new stake in shares of Invitation Homes in the 3rd quarter valued at $203,000. Engineers Gate Manager LP purchased a new stake in shares of Invitation Homes in the 2nd quarter valued at $205,000. Finally, IFM Investors Pty Ltd purchased a new stake in shares of Invitation Homes in the 3rd quarter valued at $266,000.

Separately, Raymond James lifted their price objective on Invitation Homes from $26.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday, August 21st. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $25.83.

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Invitation Homes Company Profile

Invitation Homes is a leading owner and operator of single-family homes for lease, 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.

Further Reading: Cost of Capital

Earnings History for Invitation Homes (NYSE:INVH)

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