Streetbeat News

INVH

Invitation Homes Inc.

https://www.InvitationHomes.com

Industry

REIT - Residential

Invitation Homes is the nation's premier single-family home leasing company, meeting changing lifestyle demands by providing access to high-quality, updated homes with valued features such as close proximity to jobs and access to good schools. The company's mission, "Together with you, we make a house a home," reflects its commitment to providing homes where individuals and families can thrive and high-touch service that continuously enhances residents' living experiences.

Open

33.93

Mkt cap

21B

Volume

1.6M

High

34.09

P/E Ratio

47.06

52-wk high

37.80

Low

33.77

Div yield

0.03

52-wk low

31.01

Invitation Homes Inc. (NYSE:INVH), a residential REIT, has shown significant share price appreciation and dividend growth over the past five years. An initial investment of $10,000 in December 2018 would have grown to $17,115.28, with dividends contributing $1,498.59. The company recently increased its quarterly dividend by 7.7% and reported mixed Q3 earnings, with FFO slightly missing estimates but revenue exceeding expectations. Analysts from Oppenheimer and Raymond James have given positive ratings with price targets of $35 and $37, respectively. However, the proposed End Hedge Fund Control of American Homes Act of 2023 could pressure shares of Invitation Homes and similar REITs if it passes, as it aims to restrict and reduce investments in single-family homes by REITs.

Portfolio Pulse from Ethan Roberts

December 14, 2023 | 3:44 pm

Congressional Democrats introduced the End Hedge Fund Control of American Homes Act of 2023, which aims to prevent hedge funds from indefinitely owning single-family homes. If passed, these entities must divest from such properties within 10 years. The bill responds to concerns that hedge funds are distorting the housing market, particularly in areas where they own a significant percentage of single-family rentals. Companies like Invitation Homes, American Homes 4 Rent, Tricon Residential, and Zillow Group, which are involved in the single-family home market, could be affected by this legislation.

Portfolio Pulse from Piero Cingari

December 09, 2023 | 2:40 pm

Invitation Homes has declared a regular quarterly cash dividend of $0.28 per share on its common stock, marking a 7.7% increase from the previous dividend. The dividend is scheduled to be paid on or before January 19, 2024.