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Invitation Homes Inc
NYSE:INVH

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Invitation Homes Inc Logo
Invitation Homes Inc
NYSE:INVH
Watchlist
Price: 34.62 USD -0.97% Market Closed
Updated: Mar 19, 2024

Intrinsic Value

Invitation Homes, Inc. engages in the acquisition, renovation, leasing and operation of single-family homes as rental properties, including single-family homes in planned unit developments. [ Read More ]

The intrinsic value of one INVH stock under the Base Case scenario is 31.55 USD. Compared to the current market price of 34.62 USD, Invitation Homes Inc is Overvalued by 9%.

Key Points:
INVH Intrinsic Value
Base Case
31.55 USD
Overvaluation 9%
Intrinsic Value
Price
Worst Case
Base Case
Best Case

Valuation Backtest
Invitation Homes Inc

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Fundamental Analysis

Positive Financial Trajectory and 2024 Outlook
2023-Q4 Earnings Call

Positive Financial Trajectory and 2024 Outlook

In 2023, the company fortified its investment-grade balance sheet, issuing $800 million in senior notes at 5.5% and enjoying credit rating upgrades, ending the year with $1.7 billion in liquidity. Debt to EBITDA improved to 5.5x, emphasizing strong financial handling. Core FFO per share increased by 4.6% for Q4 and 6% annually. Looking ahead, the company guides a 2024 same-store NOI growth of 3.5%-5.5%, aligning with expected core revenue growth of 4.5%-5.5%. Expenses may grow by 5.5%-7% due to higher fixed costs, like 8%-10% more property taxes. Full year 2024 core FFO guidance is set to $1.82-$1.90 per share, and AFFO $1.54-$1.62 per share, propelling a nearly 8% dividend increase to $0.28 per share.

Financials

Balance Sheet Decomposition
Invitation Homes Inc

Current Assets 761.4m
Cash & Short-Term Investments 700.6m
Receivables 60.8m
Non-Current Assets 18.5B
Long-Term Investments 389.6m
PP&E 17.3B
Intangibles 258.2m
Other Non-Current Assets 477.5m
Current Liabilities 393.8m
Accounts Payable 200.6m
Accrued Liabilities 11.1m
Other Current Liabilities 182.2m
Non-Current Liabilities 8.7B
Long-Term Debt 8.5B
Other Non-Current Liabilities 123m
Efficiency

Earnings Waterfall
Invitation Homes Inc

Revenue
2.4B USD
Cost of Revenue
-976.1m USD
Gross Profit
1.5B USD
Operating Expenses
-756.6m USD
Operating Income
699.5m USD
Other Expenses
-180.8m USD
Net Income
518.8m USD

Free Cash Flow Analysis
Invitation Homes Inc

Last Value
3-Years Average
FCF Margin
Conversion Rate
History
Components
Chart
Table
What is Free Cash Flow?
Fundamental Scores

INVH Profitability Score
Profitability Due Diligence

Invitation Homes Inc's profitability score is 52/100. The higher the profitability score, the more profitable the company is.

Positive Gross Profit
Positive Operating Income
Positive 3-Years Revenue Growth
Positive Net Income
52/100
Profitability
Score

Invitation Homes Inc's profitability score is 52/100. The higher the profitability score, the more profitable the company is.

INVH Solvency Score
Solvency Due Diligence

Invitation Homes Inc's solvency score is 36/100. The higher the solvency score, the more solvent the company is.

Long-Term Solvency
Short-Term Solvency
Low D/E
Low Altman Z-Score
36/100
Solvency
Score

Invitation Homes Inc's solvency score is 36/100. The higher the solvency score, the more solvent the company is.

Wall St
Price Targets

INVH Price Targets Summary
Invitation Homes Inc

Wall Street analysts forecast INVH stock price to rise over the next 12 months.

According to Wall Street analysts, the average 1-year price target for INVH is 38.4 USD with a low forecast of 35.35 USD and a high forecast of 43.05 USD.

Lowest
Price Target
35.35 USD
2% Upside
Average
Price Target
38.4 USD
11% Upside
Highest
Price Target
43.05 USD
24% Upside
View Analyst Estimates
View Analyst Estimates

Competitive Landscape

Ownership

INVH Insider Trading
Buy and sell transactions by insiders

Cumulative Transactions Amount
Period Sold Bought Net
3 Months
6 Months
9 Months
12 Months
Why is insider trading important?

Shareholder Return

INVH Price
Invitation Homes Inc

1M 1M
+6%
6M 6M
+2%
1Y 1Y
+14%
3Y 3Y
+19%
5Y 5Y
+63%
10Y 10Y
+97%
Annual Price Range
34.62
52w Low
28.46
52w High
36.16
Price Metrics
Average Annual Return 13.58%
Standard Deviation of Annual Returns 40.08%
Max Drawdown -51%
Shares Statistics
Market Capitalization 21.2B USD
Shares Outstanding 613 688 569
Percentage of Shares Shorted 2.33%

INVH Return Decomposition
Main factors of price return

What is price return decomposition?

INVH News

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Company Profile

Invitation Homes Inc Logo
Invitation Homes Inc

Country

United States of America

Industry

Real Estate

Market Cap

21.2B USD

Dividend Yield

3.23%

Description

Invitation Homes, Inc. engages in the acquisition, renovation, leasing and operation of single-family homes as rental properties, including single-family homes in planned unit developments. The company is headquartered in Dallas, Texas and currently employs 1,240 full-time employees. The company went IPO on 2017-02-01. The firm operates by acquiring, renovating, leasing, and operating single-family homes as rental properties segment. The firm owns and operates single-family homes for lease, offering residents homes across America. The firm has built a vertically integrated operating platform that allows to acquire, renovate, lease, maintain and manage its homes. The firm's business activity includes property operations, marketing and leasing, digital marketing initiatives and branding, resident relations and property maintenance, and investment and asset management. The company has approximately 80,000 homes for lease in over 16 markets across the United States. The Company, through THR Property Management L.P, provides all management and other administrative services with respect to the properties it owns.

Contact

TEXAS
Dallas
1717 Main St Ste 2000
+19724213600.0
https://www.invitationhomes.com/

IPO

2017-02-01

Employees

1 240

Officers

Co-Founder, CEO & Director
Mr. Dallas B. Tanner
President & COO
Mr. Charles D. Young
Executive VP - Legal, Chief Legal Officer & Secretary
Mr. Mark A. Solls
Advisor
Mr. Ernest M. Freedman CPA
Executive VP, CFO & Treasurer
Mr. Jonathan S. Olsen
Executive VP & Chief Investment Officer
Mr. Scott G. Eisen
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Executive VP & Chief Accounting Officer
Ms. Kimberly K. Norrell
Executive VP and Chief Information & Digital Officer
Ms. Virginia L. Suliman
Senior Vice President of Investor Relations & Tax
Mr. Scott McLaughlin CPA
Senior Vice President of Communications & Media Relations
Ms. Kristi DesJarlais
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See Also

Discover More
What is the Intrinsic Value of one INVH stock?

The intrinsic value of one INVH stock under the Base Case scenario is 31.55 USD.

Is INVH stock undervalued or overvalued?

Compared to the current market price of 34.62 USD, Invitation Homes Inc is Overvalued by 9%.