Invitation Homes Inc (INVH) Expected to Announce Quarterly Sales of $436.24 Million

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Wall Street brokerages expect Invitation Homes Inc (NYSE:INVH) to report $436.24 million in sales for the current fiscal quarter, according to Zacks. Six analysts have made estimates for Invitation Homes’ earnings. The lowest sales estimate is $433.12 million and the highest is $444.73 million. Invitation Homes reported sales of $243.54 million in the same quarter last year, which would suggest a positive year over year growth rate of 79.1%. The business is scheduled to report its next earnings results on Wednesday, November 14th.

According to Zacks, analysts expect that Invitation Homes will report full-year sales of $1.73 billion for the current year, with estimates ranging from $1.70 billion to $1.75 billion. For the next year, analysts forecast that the firm will post sales of $1.81 billion, with estimates ranging from $1.76 billion to $1.85 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Invitation Homes.

Invitation Homes (NYSE:INVH) last announced its quarterly earnings data on Thursday, August 9th. The company reported $0.29 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.29. The firm had revenue of $432.00 million during the quarter, compared to analyst estimates of $431.24 million. Invitation Homes had a negative net margin of 6.99% and a negative return on equity of 0.98%. The business’s quarterly revenue was up 78.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.25 EPS.

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley lowered their price objective on shares of Invitation Homes from $27.00 to $24.50 and set an “overweight” rating for the company in a report on Thursday, June 14th. TheStreet downgraded shares of Invitation Homes from a “c-” rating to a “d+” rating in a research note on Wednesday, June 13th. Finally, Raymond James lifted their target price on shares of Invitation Homes from $26.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, August 21st. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Invitation Homes presently has a consensus rating of “Buy” and an average target price of $25.85.

Shares of INVH traded down $0.12 during mid-day trading on Friday, reaching $22.09. The company’s stock had a trading volume of 838,401 shares, compared to its average volume of 2,284,523. The firm has a market cap of $11.93 billion, a price-to-earnings ratio of 84.96, a PEG ratio of 3.40 and a beta of -0.41. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.75 and a current ratio of 0.75. Invitation Homes has a 52 week low of $20.25 and a 52 week high of $24.30.

In related news, Director Barry S. Sternlicht sold 1,309,849 shares of Invitation Homes stock in a transaction on Friday, September 14th. The shares were sold at an average price of $23.55, for a total value of $30,846,943.95. Following the transaction, the director now directly owns 5,482 shares of the company’s stock, valued at $129,101.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.50% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of INVH. Bristol John W & Co. Inc. NY purchased a new position in Invitation Homes during the 1st quarter valued at $112,000. PNC Financial Services Group Inc. increased its position in Invitation Homes by 115.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,980 shares of the company’s stock valued at $160,000 after purchasing an additional 3,740 shares during the period. Point72 Hong Kong Ltd purchased a new position in Invitation Homes during the 2nd quarter valued at $175,000. Engineers Gate Manager LP purchased a new position in Invitation Homes during the 2nd quarter valued at $205,000. Finally, IBM Retirement Fund purchased a new position in Invitation Homes during the 1st quarter valued at $249,000.

About Invitation Homes

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.

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