Morgan Stanley Increases Invitation Homes (NYSE:INVH) Price Target to $35.00

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Invitation Homes (NYSE:INVH) had its price objective boosted by Morgan Stanley from $31.00 to $35.00 in a report released on Wednesday morning, BenzingaRatingsTable reports. The brokerage currently has an overweight rating on the stock.

INVH has been the topic of a number of other research reports. ValuEngine lowered Invitation Homes from a hold rating to a sell rating in a research report on Wednesday, October 2nd. Royal Bank of Canada upped their price objective on Invitation Homes to $30.00 and gave the stock an outperform rating in a research report on Tuesday, August 20th. Credit Suisse Group upped their price objective on Invitation Homes from $28.50 to $32.00 and gave the stock an outperform rating in a research report on Wednesday, October 2nd. Zacks Investment Research raised Invitation Homes from a sell rating to a hold rating in a report on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods lowered Invitation Homes from an outperform rating to a market perform rating and set a $28.50 target price on the stock. in a report on Friday, July 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Invitation Homes has a consensus rating of Buy and an average target price of $29.45.

Shares of Invitation Homes stock traded down $0.10 during trading hours on Wednesday, reaching $30.25. 2,341,081 shares of the company were exchanged, compared to its average volume of 5,890,961. Invitation Homes has a 1 year low of $19.21 and a 1 year high of $30.56. The stock’s fifty day moving average is $29.08 and its 200 day moving average is $26.91. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.34 and a current ratio of 0.34. The firm has a market cap of $16.32 billion, a PE ratio of 131.52, a PEG ratio of 3.30 and a beta of 0.39.

Invitation Homes (NYSE:INVH) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.24). Invitation Homes had a return on equity of 1.42% and a net margin of 4.91%. The company had revenue of $442.00 million for the quarter, compared to analysts’ expectations of $442.81 million. During the same period in the prior year, the company posted $0.29 EPS. The firm’s revenue was up 2.3% compared to the same quarter last year. Research analysts expect that Invitation Homes will post 1.23 earnings per share for the current year.

In other Invitation Homes news, EVP Mark A. Solls sold 30,000 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $29.01, for a total value of $870,300.00. Following the completion of the transaction, the executive vice president now owns 94,858 shares in the company, valued at $2,751,830.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Real Estate Partner Blackstone sold 44,000,000 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $28.18, for a total transaction of $1,239,920,000.00. The disclosure for this sale can be found here. Insiders sold 44,061,892 shares of company stock worth $1,241,696,352 in the last three months. 0.25% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its stake in shares of Invitation Homes by 1,373.2% during the second quarter. Bank of America Corp DE now owns 23,768,299 shares of the company’s stock worth $635,327,000 after buying an additional 22,154,878 shares during the period. Vanguard Group Inc. boosted its stake in shares of Invitation Homes by 27.6% during the second quarter. Vanguard Group Inc. now owns 62,328,263 shares of the company’s stock worth $1,666,034,000 after buying an additional 13,491,691 shares during the period. Nuveen Asset Management LLC boosted its stake in shares of Invitation Homes by 195.1% during the second quarter. Nuveen Asset Management LLC now owns 6,530,891 shares of the company’s stock worth $174,570,000 after buying an additional 4,317,595 shares during the period. BlackRock Inc. boosted its stake in shares of Invitation Homes by 13.5% during the second quarter. BlackRock Inc. now owns 32,366,010 shares of the company’s stock worth $865,142,000 after buying an additional 3,837,192 shares during the period. Finally, Resolution Capital Ltd acquired a new stake in shares of Invitation Homes during the second quarter worth about $89,444,000.

About Invitation Homes

Invitation Homes is a leading owner and operator of single-family rental homes, 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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Analyst Recommendations for Invitation Homes (NYSE:INVH)

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