Invitation Homes (INVH)

• Market cap: $21.2B
• 1 day: 1.67%
• 5 days: -1.65%
• 1 month: 3.22%
• 3 months: 6.68%
• 6 months: 0.71%
• Year to date: 8.27%
• 1 year: -4.54%
• 5 years: 41.20%
• 10 years: 70.15%
• Sector: Real Estate
• Industry: Residential REIT

About: Invitation Homes owns a portfolio of over 85,000 single-family rental homes. The company focuses on owning homes in the starter and move-up segments of the housing market with an average sale price around $350,000 and generally less than 1,800 square feet. The portfolio is spread across 16 target markets that feature high employment and household formation growth with almost 70% of the portfolio in the Western U.S. and Florida; 15 of the 16 markets featuring average rents lower than homeownership costs.

Employees: 1,750

Fund manager confidence

Based on 2024 Q4 regulatory disclosures by fund managers ($100M+ AUM)

17% more funds holding in top 10

Funds holding in top 10: 12 [Q3] → 14 (+2) [Q4]

8.49% more ownership

Funds ownership: 91.24% [Q3] → 99.73% (+8.49%) [Q4]

7% more call options, than puts

Call options by funds: $35.9M | Put options by funds: $33.5M

1% less capital invested

Capital invested by funds: $19.7B [Q3] → $19.5B (-$163M) [Q4]

3% less funds holding

Funds holding: 530 [Q3] → 514 (-16) [Q4]

10% less first-time investments, than exits

New positions opened: 70 | Existing positions closed: 78

19% less repeat investments, than reductions

Existing positions increased: 170 | Existing positions reduced: 211

Research analyst outlook

8 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $36 6% upside
• Avg. target: $39 14% upside
• High target: $43 26% upside

8 analyst ratings

• positive: 5 63%
• neutral: 3 38%
• negative: 0 0%

Scotiabank Nicholas Yulico 38% 1-year accuracy 17 / 45 met price target	12% upside $38	Sector Perform Maintained	12 May 2025
Raymond James Buck Horne 31% 1-year accuracy 8 / 26 met price target	15% upside $39	Outperform Maintained	9 May 2025
Barclays Richard Hightower 52% 1-year accuracy 12 / 23 met price target	15% upside $39	Overweight Maintained	9 May 2025
Goldman Sachs Julien Blouin 29% 1-year accuracy 4 / 14 met price target	26% upside $43	Buy Maintained	6 May 2025
Oppenheimer Tyler Batory 24% 1-year accuracy 9 / 38 met price target	20% upside $41	Outperform Maintained	6 May 2025