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Goldman Sachs Group Initiates Coverage on Invitation Homes (NYSE:INVH)

Investment analysts at Goldman Sachs Group assumed coverage on shares of Invitation Homes (NYSE:INVH) in a note issued to investors on Friday, Marketbeat Ratings reports. The firm set a “sell” rating and a $29.00 price target on the stock. Goldman Sachs Group’s target price suggests a potential downside of 1.73% from the company’s current price.

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INVH has been the subject of several other research reports. Zacks Investment Research raised Invitation Homes from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th. ValuEngine cut Invitation Homes from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Credit Suisse Group increased their price target on Invitation Homes from $28.50 to $32.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. BTIG Research lowered Invitation Homes from a “buy” rating to a “neutral” rating in a report on Thursday, October 31st. Finally, B. Riley set a $30.00 price objective on Invitation Homes and gave the company a “buy” rating in a report on Friday, August 16th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $29.79.

Shares of NYSE:INVH traded down $0.01 on Friday, hitting $29.51. The company’s stock had a trading volume of 1,968,848 shares, compared to its average volume of 3,854,910. Invitation Homes has a 12 month low of $19.21 and a 12 month high of $31.32. The company has a market capitalization of $15.95 billion, a price-to-earnings ratio of 128.30, a price-to-earnings-growth ratio of 3.14 and a beta of 0.40. The stock’s 50-day moving average is $30.17 and its two-hundred day moving average is $27.76. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.29 and a current ratio of 0.29.

Invitation Homes (NYSE:INVH) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.24). Invitation Homes had a return on equity of 1.83% and a net margin of 6.76%. The business had revenue of $443.33 million during the quarter, compared to the consensus estimate of $446.66 million. During the same period in the previous year, the company posted $0.29 EPS. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. Equities analysts expect that Invitation Homes will post 1.23 earnings per share for the current fiscal year.

In other news, EVP Mark A. Solls sold 30,000 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $29.01, for a total transaction of $870,300.00. Following the completion of the sale, the executive vice president now directly owns 94,858 shares of the company’s stock, valued at $2,751,830.58. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Ernest Michael Freedman sold 31,892 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $28.41, for a total value of $906,051.72. Following the sale, the chief financial officer now directly owns 342,786 shares of the company’s stock, valued at $9,738,550.26. The disclosure for this sale can be found here. In the last 90 days, insiders sold 44,649,323 shares of company stock valued at $1,259,523,023. Insiders own 0.25% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in INVH. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Invitation Homes during the third quarter valued at $30,000. CSat Investment Advisory L.P. purchased a new stake in shares of Invitation Homes during the second quarter valued at $37,000. NEXT Financial Group Inc lifted its holdings in shares of Invitation Homes by 18.1% during the second quarter. NEXT Financial Group Inc now owns 2,919 shares of the company’s stock valued at $78,000 after purchasing an additional 447 shares during the last quarter. Whittier Trust Co. purchased a new stake in shares of Invitation Homes during the second quarter valued at $83,000. Finally, North Star Investment Management Corp. purchased a new stake in shares of Invitation Homes during the third quarter valued at $139,000.

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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