With a market cap of $21.4 billion, Invitation Homes Inc. (INVH) is a real estate investment trust (REIT) that engages in owning, renovating, leasing, and operating single-family residential properties. Based in Dallas, Texas, the company has approximately 85,138 homes for lease, and also manages properties on behalf of others.
Shares of the REIT have lagged behind the broader market over the past 52 weeks. INVH has risen 1.7% over this time frame, while the broader S&P 500 Index ($SPX) has gained 10.2%. However, shares of INVH are up 9.5% on a YTD basis, compared to SPX’s 3.9% decline.
Zooming in further, Invitation Homes has also underperformed the Real Estate Select Sector SPDR Fund’s (XLRE) 13.1% rise over the past 52 weeks.
Invitation Homes’ stock prices rose 2.7% the next day after the release of its strong Q1 2025 results on Apr. 30. The company reported revenues of $674 million, up 4.4% year-over-year, exceeding the consensus estimate of $669.4 million. Its adjusted FFO came in at $0.42 per share, marking a 2.4% increase from the prior-year quarter. Looking ahead to fiscal 2025, INVH expects Joint venture (JV) acquisitions to range between $100 million and $200 million, with AFFO projected between $1.58 per share and $1.64 per share.
For the current fiscal year, ending in December 2025, analysts expect INVH's core FFO to decline nearly 1.1% year-over-year to $1.86. However, the company's earnings surprise history is strong. It beat the consensus estimates in the last four quarters.
Among the 22 analysts covering the stock, the consensus rating is a “Moderate Buy.” That’s based on eight “Strong Buy” ratings, one “Moderate Buy,” and 13 “Holds.”
This configuration is slightly more bullish than three months ago, with seven “Strong Buy” ratings on the stock.
On May 5, Keefe, Bruyette & Woods analyst Jade Rahmani raised INVH’s price target to $37 while maintaining a “Market Perform” rating.
As of writing, Invitation Homes is trading below the mean price target of $36.53. The Street-high target of $40 suggests a 14.3% upside potential.
