Invitation Homes (NYSE:INVH) Downgraded to “Sell” at Zacks Investment Research

Invitation Homes (NYSE:INVHGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Invitation Homes Inc. provides real estate services. It focuses on owning, renovating, leasing and operating single-family residential properties primarily in the United States. Invitation Homes Inc. is headquartered in Dallas, Texas. “

INVH has been the subject of a number of other reports. KeyCorp assumed coverage on shares of Invitation Homes in a research note on Tuesday, February 1st. They set an “overweight” rating and a $46.00 price objective for the company. BMO Capital Markets initiated coverage on shares of Invitation Homes in a research note on Thursday, April 14th. They issued a “market perform” rating and a $45.00 target price for the company. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Invitation Homes from $52.00 to $51.00 and set a “buy” rating for the company in a research note on Thursday, March 24th. Evercore ISI raised shares of Invitation Homes from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $44.00 to $46.00 in a research note on Wednesday, April 6th. Finally, Morgan Stanley lowered their target price on shares of Invitation Homes from $48.50 to $44.50 and set an “overweight” rating for the company in a research note on Friday, March 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $46.26.

INVH stock opened at $43.04 on Wednesday. The firm has a 50 day moving average of $40.11 and a 200-day moving average of $41.19. Invitation Homes has a 12-month low of $33.63 and a 12-month high of $45.80. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.63. The company has a market cap of $26.18 billion, a price-to-earnings ratio of 95.65, a PEG ratio of 2.62 and a beta of 0.93.

Invitation Homes (NYSE:INVHGet Rating) last issued its quarterly earnings data on Monday, February 14th. The company reported $0.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.26). Invitation Homes had a return on equity of 2.85% and a net margin of 13.08%. The business had revenue of $520.23 million for the quarter, compared to analysts’ expectations of $523.34 million. During the same period last year, the business earned $0.32 earnings per share. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. Sell-side analysts forecast that Invitation Homes will post 1.65 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. lifted its holdings in Invitation Homes by 16.3% in the 4th quarter. BlackRock Inc. now owns 50,992,689 shares of the company’s stock worth $2,312,008,000 after buying an additional 7,152,163 shares in the last quarter. Cohen & Steers Inc. raised its stake in shares of Invitation Homes by 249.1% in the 3rd quarter. Cohen & Steers Inc. now owns 34,664,520 shares of the company’s stock valued at $1,328,813,000 after purchasing an additional 24,734,553 shares in the last quarter. Norges Bank acquired a new stake in shares of Invitation Homes in the 4th quarter valued at about $1,359,468,000. State Street Corp raised its stake in shares of Invitation Homes by 9.5% in the 4th quarter. State Street Corp now owns 25,760,607 shares of the company’s stock valued at $1,167,986,000 after purchasing an additional 2,243,639 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Invitation Homes by 5.1% during the 4th quarter. Invesco Ltd. now owns 14,503,611 shares of the company’s stock valued at $657,593,000 after buying an additional 706,414 shares during the last quarter. Hedge funds and other institutional investors own 93.87% of the company’s stock.

About Invitation Homes (Get Rating)

Invitation Homes is the nation's premier single-family home leasing 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.

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