Morgan Stanley, a leading financial services firm, has increased its target price for Invitation Homes (INVH) from $36.50 to $38.00. This new target price suggests a potential upside of 11.18% from the current stock price. The brokerage currently has an “overweight” rating on the stock.
Other equities research analysts have also recently provided updates on INVH. BTIG Research downgraded shares of Invitation Homes from a “buy” rating to a “neutral” rating, while Barclays raised their price objective on the stock from $38.00 to $41.00. Raymond James also increased their target price from $35.00 to $38.00 and maintained an “outperform” rating.
In total, nine research analysts have given INVH a hold rating, while seven have assigned a buy rating. The average rating for the stock is “hold,” with an average target price of $35.47.
Invitation Homes is a premier single-family home leasing company that provides high-quality, updated homes that meet the changing lifestyle demands of individuals and families. Their mission is to make a house a home by offering residences that are close to jobs and good schools.
In terms of financial performance, Invitation Homes reported $0.22 earnings per share for the quarter, falling short of analysts’ expectations of $0.44. The company had revenue of $600.37 million during the quarter.
In terms of market performance, INVH stock traded at $34.18 on Friday, with a market cap of $20.92 billion. The company’s fifty-day moving average is $34.62, and its 200-day moving average is $33.26.
Several institutional investors and hedge funds have made changes to their positions in Invitation Homes. Twin Tree Management LP, Coppell Advisory Solutions Corp., OLD Mission Capital LLC, and Ameritas Advisory Services LLC are among the companies that have acquired new positions in the company.
In conclusion, Morgan Stanley’s target price increase for Invitation Homes reflects a positive outlook for the company. With a focus on providing high-quality homes to meet changing lifestyle demands, Invitation Homes aims to enhance the living experiences of its residents and continue to thrive in the market.
Sources:
– Benzinga (www.benzinga.com)
– MarketBeat (www.marketbeat.com)