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Invitation HomesNYSE:INVH Stock Report

Last Price


Market Cap







21 Jan, 2022


Company Financials +
INVH fundamental analysis
Snowflake Score
Future Growth2/6
Past Performance3/6
Financial Health2/6

INVH Stock Overview

Invitation Homes is the nation's premier single-family home leasing company, meeting changing lifestyle demands by providing access to high-quality, updated homes with valued features such as close proximity to jobs and access to good schools.

Invitation Homes Competitors

AvalonBay Communities



Mid-America Apartment Communities



Sun Communities



Essex Property Trust



Price History & Performance

Summary of all time highs, changes and price drops for Invitation Homes
Historical stock prices
Current Share PriceUS$41.84
52 Week HighUS$45.80
52 Week LowUS$27.44
1 Month Change-3.46%
3 Month Change2.35%
1 Year Change39.05%
3 Year Change97.64%
5 Year Changen/a
Change since IPO109.20%

Recent News & Updates

Jan 17

Invitation Homes: Ride This Rocket

Invitation Homes may seem unappealing because of their low dividend yield. In several ways detailed here, they are a growth-oriented REIT. Quantitatively, INVH has a real potential to rocket upward for many years.

Dec 23

Invitation Homes: Well Positioned In The Surging Single Family Rental Space

Institutional funds are pouring into Single Family Rental investment. INVH was first and remains the largest. Declining affordability, sustaining demand, and access to low-cost capital pave the way for continued growth.

Dec 15

Invitation Homes Is The Best REIT With Fair Price

Invitation Homes is one of the US public investment funds focused on the purchase of real estate, the main focus of which is on providing single-family house rental services. In 2022, the growth rate of rental payments will increase, and in 2023, the growth rate will be 2 times higher than the level up to 2021. The total revenue by the end of 2021 will grow by 10% YoY to $1996 million, and by the end of 2022, it will grow by 12% YoY to $2245 million.

Shareholder Returns


Return vs Industry: INVH exceeded the US REITs industry which returned 25.7% over the past year.

Return vs Market: INVH exceeded the US Market which returned 7.7% over the past year.

Price Volatility

Is INVH's price volatile compared to industry and market?
INVH volatility
INVH Average Weekly Movement2.8%
REITs Industry Average Movement4.0%
Market Average Movement6.6%
10% most volatile stocks in US Market15.7%
10% least volatile stocks in US Market2.4%

Stable Share Price: INVH is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: INVH's weekly volatility (3%) has been stable over the past year.

About the Company

20121,149Dallas Tanner

Invitation Homes is the nation's premier single-family home leasing company, meeting changing lifestyle demands by providing access to high-quality, updated homes with valued features such as close proximity to jobs and access to good schools. The company's mission, "Together with you, we make a house a home," reflects its commitment to providing homes where individuals and families can thrive and high-touch service that continuously enhances residents' living experiences.

Invitation Homes Fundamentals Summary

How do Invitation Homes's earnings and revenue compare to its market cap?
INVH fundamental statistics
Market CapUS$25.08b
Earnings (TTM)US$257.21m
Revenue (TTM)US$1.94b


P/E Ratio


P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
INVH income statement (TTM)
Cost of RevenueUS$763.22m
Gross ProfitUS$1.18b

Last Reported Earnings

Sep 30, 2021

Next Earnings Date


Earnings per share (EPS)0.43
Gross Margin60.68%
Net Profit Margin13.25%
Debt/Equity Ratio86.0%

How did INVH perform over the long term?

See historical performance and comparison



Current Dividend Yield


Payout Ratio


Is Invitation Homes undervalued compared to its fair value and its price relative to the market?


Price to Earnings (PE) ratio

Share Price vs. Fair Value

Below Fair Value: INVH ($41.84) is trading above our estimate of fair value ($41.11)

Significantly Below Fair Value: INVH is trading above our estimate of fair value.

Price To Earnings Ratio

PE vs Industry: INVH is poor value based on its PE Ratio (97.5x) compared to the US REITs industry average (45.5x).

PE vs Market: INVH is poor value based on its PE Ratio (97.5x) compared to the US market (16.9x).

Price to Earnings Growth Ratio

PEG Ratio: INVH is poor value based on its PEG Ratio (6.3x)

Price to Book Ratio

PB vs Industry: INVH is overvalued based on its PB Ratio (2.6x) compared to the US REITs industry average (2x).

Future Growth

How is Invitation Homes forecast to perform in the next 1 to 3 years based on estimates from 13 analysts?


Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: INVH's forecast earnings growth (15.4% per year) is above the savings rate (2%).

Earnings vs Market: INVH's earnings (15.4% per year) are forecast to grow faster than the US market (13.1% per year).

High Growth Earnings: INVH's earnings are forecast to grow, but not significantly.

Revenue vs Market: INVH's revenue (5.7% per year) is forecast to grow slower than the US market (9.3% per year).

High Growth Revenue: INVH's revenue (5.7% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: INVH's Return on Equity is forecast to be low in 3 years time (4.3%).

Past Performance

How has Invitation Homes performed over the past 5 years?


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: INVH has a large one-off gain of $80.7M impacting its September 30 2021 financial results.

Growing Profit Margin: INVH's current net profit margins (13.3%) are higher than last year (9.8%).

Past Earnings Growth Analysis

Earnings Trend: INVH has become profitable over the past 5 years, growing earnings by 66.3% per year.

Accelerating Growth: INVH's earnings growth over the past year (45.2%) is below its 5-year average (66.3% per year).

Earnings vs Industry: INVH earnings growth over the past year (45.2%) exceeded the REITs industry 29.5%.

Return on Equity

High ROE: INVH's Return on Equity (2.7%) is considered low.

Financial Health

How is Invitation Homes's financial position?

Financial Position Analysis

Short Term Liabilities: INVH's short term assets ($959.4M) exceed its short term liabilities ($677.9M).

Long Term Liabilities: INVH's short term assets ($959.4M) do not cover its long term liabilities ($8.0B).

Debt to Equity History and Analysis

Debt Level: INVH's net debt to equity ratio (80%) is considered high.

Reducing Debt: INVH's debt to equity ratio has reduced from 386.7% to 86% over the past 5 years.

Debt Coverage: INVH's debt is not well covered by operating cash flow (10.4%).

Interest Coverage: INVH's interest payments on its debt are not well covered by EBIT (1.5x coverage).

Balance Sheet


What is Invitation Homes's current dividend yield, its reliability and sustainability?


Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: INVH's dividend (1.63%) is higher than the bottom 25% of dividend payers in the US market (1.34%).

High Dividend: INVH's dividend (1.63%) is low compared to the top 25% of dividend payers in the US market (3.49%).

Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, INVH has been paying a dividend for less than 10 years.

Growing Dividend: INVH's dividend payments have increased, but the company has only paid a dividend for 5 years.

Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (48.5%), INVH's dividend payments are well covered by earnings.

Future Payout to Shareholders

Future Dividend Coverage: INVH's dividends in 3 years are forecast to be well covered by earnings (45.2% payout ratio).

Next Steps


How experienced are the management team and are they aligned to shareholders interests?


Average management tenure


Dallas Tanner (40 yo)





Mr. Dallas B. Tanner has been President, Chief Executive Officer and Director of Invitation Homes Inc since January 16, 2019. He served as Interim President and Interim Chief Executive Officer of Invitatio...

CEO Compensation Analysis

Compensation vs Market: Dallas's total compensation ($USD5.52M) is below average for companies of similar size in the US market ($USD11.31M).

Compensation vs Earnings: Dallas's compensation has been consistent with company performance over the past year.

Leadership Team

Experienced Management: INVH's management team is considered experienced (3.8 years average tenure).

Board Members

Experienced Board: INVH's board of directors are considered experienced (4.2 years average tenure).


Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: INVH insiders have only sold shares in the past 3 months.

Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 6.3%.

Top Shareholders

Company Information

Invitation Homes Inc.'s employee growth, exchange listings and data sources

Key Information

  • Name: Invitation Homes Inc.
  • Ticker: INVH
  • Exchange: NYSE
  • Founded: 2012
  • Industry: Residential REITs
  • Sector: Real Estate
  • Implied Market Cap: US$25.078b
  • Market Cap: US$24.969b
  • Shares outstanding: 599.31m
  • Website:

Number of Employees


  • Invitation Homes Inc.
  • 1717 Main Street
  • Suite 2000
  • Dallas
  • Texas
  • 75201
  • United States


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/01/21 00:14
End of Day Share Price2022/01/20 00:00
Annual Earnings2020/12/31

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.