B.Riley FBR Believes Invitation Homes Inc (NYSE: INVH) Won’t Stop Here

By Ryan Adsit

B.Riley FBR analyst David Corak reiterated a Buy rating on Invitation Homes Inc (NYSE: INVH) today and set a price target of $26. The company’s shares closed yesterday at $23.57, close to its 52-week high of $23.94.

Corak commented:

“We are adjusting estimates for INVH in order to reflect commentary from management on its 3Q earnings call, as well as the release of the company’s 10-Q. We believe that INVH is poised for an exciting 2018 as the potential merger with SFR is expected to close before year end, pending certain closing conditions. We reiterate our Buy rating and $26.00 price target.”

According to TipRanks.com, Corak is a 3-star analyst with an average return of 2.4% and a 56.4% success rate. Corak covers the Financial sector, focusing on stocks such as National Storage Affiliates Trust, Preferred Apartment Communities, and NorthStar Realty Europe Corp.

Currently, the analyst consensus on Invitation Homes Inc is Strong Buy and the average price target is $25.67, representing an 8.9% upside.

In a report issued on November 2, KBW also reiterated a Buy rating on the stock with a $25 price target.

Based on Invitation Homes Inc’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $239 million and GAAP net loss of $26.5 million. In comparison, last year the company earned revenue of $225 million and had a GAAP net loss of $19.17 million.

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Invitation Homes Inc engages in the acquisition of rental homes in situations such as foreclosure or short sale, rehabilitating, and leasing. Its services include property management, selection of homes in desirable neighborhoods, homes recently updated and renovated, maintenance program, pet-friendly environment and online payment system.