Invitation Homes Inc. (INVH) offers real estate services, specializing in the ownership, renovation, leasing, and operation of single-family residential properties primarily within the United States. The company is based in Dallas, Texas, and its market cap currently stands at $21.7 billion. Invitation Homes is scheduled to release its fiscal 2024 Q2 earnings results after the market close on Wednesday, Jul. 24.
Ahead of the event, analysts expect Invitation Home to report an FFO of $0.46 per share, up 4.6% from $0.44 per share in the year-ago quarter. The company has exceeded or met Wall Street’s earnings estimates in each of the last four quarters.
Invitation Home’s FFO of $0.47 for the last reported quarter grew 6.8% year over year and beat the consensus estimate by 4.4%, fueled by its robust the company’s expansion strategies.
Looking ahead, analysts expect Invitation Home to report an FFO of $1.83 in fiscal 2024, up 3.4% from $1.77 in fiscal year 2023. Its fiscal 2025 FFO is projected to rise 4.9% annually to $1.92.
In 2024, INVH stock surged 3.9%, trailing behind the broader S&P 500 Index's ($SPX) 17.1% gains on a YTD basis. However, the stock has surpassed the Real Estate Select Sector SPDR Fund’s (XLRE) marginal decline during the same period.
INVH stock fell 1.1% following its Q1 earnings release on Apr. 30, despite topping its earnings and revenue earnings estimates. The company reported a 9.5% year-over-year increase in revenue to $646 million. Besides, acquisitions by the company and the company's joint ventures totaled 273 homes for approximately $96 million, while dispositions totaled 399 homes for approximately $157 million.
The current consensus opinion on Invitation Home stock is “Moderate Buy” overall. Out of 21 analysts covering the stock, nine suggest a “Strong Buy,” three recommend a “Moderate Buy,” and nine analysts advise a “Hold.”
Furthermore, the average analyst price target for INVH is $38.10, indicating a potential upside of 7.5% from the current price levels.
On the date of publication, Kritika Sarmah did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
