Invitation Homes Inc. (NYSE:INVH) Expected to Announce Quarterly Sales of $497.42 Million

Wall Street brokerages predict that Invitation Homes Inc. (NYSE:INVH) will post $497.42 million in sales for the current quarter, Zacks reports. Five analysts have issued estimates for Invitation Homes’ earnings, with estimates ranging from $487.38 million to $503.62 million. Invitation Homes reported sales of $459.18 million in the same quarter last year, which would suggest a positive year over year growth rate of 8.3%. The company is expected to report its next earnings report on Wednesday, October 27th.

On average, analysts expect that Invitation Homes will report full-year sales of $1.96 billion for the current financial year, with estimates ranging from $1.93 billion to $1.98 billion. For the next financial year, analysts anticipate that the business will post sales of $2.08 billion, with estimates ranging from $2.02 billion to $2.16 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Invitation Homes.

Invitation Homes (NYSE:INVH) last posted its quarterly earnings results on Wednesday, July 28th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.23). Invitation Homes had a return on equity of 2.59% and a net margin of 11.69%. The firm had revenue of $491.63 million for the quarter, compared to analyst estimates of $482.59 million.

INVH has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft increased their price objective on Invitation Homes from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, May 26th. Morgan Stanley increased their price objective on Invitation Homes from $45.00 to $48.50 and gave the stock an “overweight” rating in a research note on Friday, August 20th. Credit Suisse Group increased their price objective on Invitation Homes from $36.00 to $41.00 and gave the stock an “outperform” rating in a research note on Friday, June 11th. Barclays initiated coverage on Invitation Homes in a research note on Wednesday, September 1st. They issued an “overweight” rating and a $46.00 price objective for the company. Finally, Wolfe Research initiated coverage on Invitation Homes in a research note on Monday, June 14th. They issued an “outperform” rating and a $46.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Invitation Homes currently has a consensus rating of “Buy” and an average target price of $41.65.

In other Invitation Homes news, Director Janice L. Sears sold 2,850 shares of the stock in a transaction on Monday, July 12th. The stock was sold at an average price of $40.00, for a total transaction of $114,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.23% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in INVH. First Trust Advisors LP grew its holdings in Invitation Homes by 148.6% during the first quarter. First Trust Advisors LP now owns 148,549 shares of the company’s stock valued at $3,614,000 after purchasing an additional 88,801 shares during the period. Amundi Pioneer Asset Management Inc. grew its holdings in Invitation Homes by 123.5% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 691,213 shares of the company’s stock valued at $16,818,000 after purchasing an additional 381,913 shares during the period. Alliancebernstein L.P. grew its holdings in Invitation Homes by 1.8% during the first quarter. Alliancebernstein L.P. now owns 1,149,939 shares of the company’s stock valued at $36,787,000 after purchasing an additional 20,613 shares during the period. Swiss National Bank boosted its holdings in shares of Invitation Homes by 1.7% in the first quarter. Swiss National Bank now owns 2,319,007 shares of the company’s stock worth $74,185,000 after acquiring an additional 39,400 shares during the period. Finally, Mariner LLC boosted its holdings in shares of Invitation Homes by 5.1% in the first quarter. Mariner LLC now owns 17,556 shares of the company’s stock worth $562,000 after acquiring an additional 854 shares during the period. 94.82% of the stock is owned by institutional investors and hedge funds.

Shares of Invitation Homes stock opened at $40.52 on Thursday. The company has a market cap of $23.36 billion, a PE ratio of 103.90, a price-to-earnings-growth ratio of 3.02 and a beta of 0.84. Invitation Homes has a 52 week low of $26.35 and a 52 week high of $42.48. The business has a 50 day moving average price of $40.38 and a 200-day moving average price of $36.77. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.95.

The firm also recently announced a quarterly dividend, which was paid on Friday, August 27th. Stockholders of record on Tuesday, August 10th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.68%. The ex-dividend date was Monday, August 9th. Invitation Homes’s dividend payout ratio is presently 53.13%.

About Invitation Homes

Invitation Homes, Inc engages in the acquisition, renovation, leasing and operating single-family homes as rental properties, including single-family homes in planned unit developments. Its services include property management, selection of homes, maintenance program, and online payment. The company was founded by Marcus Ridgway, Dallas Tanner, and Brad Greiwe in 2012 and is headquartered in Dallas, TX.

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