Invitation Homes
- Home ›
- US ›
- Real Estate
Invitation Homes is a leading owner and operator of single-family rental homes, offering residents high-quality homes across America. The last earnings update was 19 days ago. More info.
Add to Portfolio Compare Print
INVH Share Price and Events
7 Day Returns
1 Year Returns
INVH Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Invitation Homes (INVH) | 1.7% | 3.1% | 12% | 18.1% | - | - |
| US REITs | 0.1% | 2.1% | 3.4% | 13.9% | 11.4% | 25.6% |
| US Market | -1.4% | -3.9% | 0.2% | 1.6% | 33.2% | 38.2% |
1 Year Return vs Industry and Market
- INVH outperformed the REITs industry which returned 13.9% over the past year.
- INVH outperformed the Market in United States of America which returned 1.6% over the past year.
INVH Value
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current
share
price of
Invitation Homes
to its discounted cash flow analysis.value.The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Invitation Homes.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations | |
| Levered Adjusted Funds From Operations | Average of 15 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 7.9% |
| Perpetual Growth Rate | 10-Year US Government Bond Rate | 2.7% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year US Govt Bond Rate | 2.7% |
| Equity Risk Premium | S&P Global | 6% |
| REITs Unlevered Beta | Simply Wall St/ S&P Global | 0.53 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.529 (1 + (1- 21%) (66.56%)) |
0.871 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
0.87 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.871 * 5.96%) |
7.92% |
Discounted Cash Flow Calculation for NYSE:INVH using 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations Model
The calculations below outline how an intrinsic value for Invitation Homes is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.
Invitation Homes is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.
| Adjusted Funds From Operations (AFFO) (USD, Millions) | Source |
Present Value Discounted (@ 7.92%) |
|
|---|---|---|---|
| 2019 | 549.27 | Analyst x10 | 508.97 |
| 2020 | 593.88 | Analyst x9 | 509.92 |
| 2021 | 609.30 | Analyst x3 | 484.77 |
| 2022 | 636.19 | Est @ 4.41% | 469.02 |
| 2023 | 661.06 | Est @ 3.91% | 451.59 |
| 2024 | 684.56 | Est @ 3.56% | 433.33 |
| 2025 | 707.20 | Est @ 3.31% | 414.81 |
| 2026 | 729.37 | Est @ 3.13% | 396.42 |
| 2027 | 751.35 | Est @ 3.01% | 378.39 |
| 2028 | 773.35 | Est @ 2.93% | 360.89 |
| Present value of next 10 years cash flows | $4,408.10 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= $773.35 × (1 + 2.73%) ÷ (7.92% – 2.73%) |
$15,309.25 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= $15,309.25 ÷ (1 + 7.92%)10 |
$7,144.28 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= $4,408.10 + $7,144.28 |
$11,552.38 |
| Equity Value per Share (USD) |
= Total value / Shares Outstanding
= $11,552.38 / 530.45 |
$21.78 |
| Calculation | Result | |
|---|---|---|
| Value per share (USD) | From above. | $21.78 |
| Current discount | Discount to share price of
$25.77
= -1 x ($25.77 - $21.78) / $21.78 |
-18.3% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
- The current share price of Invitation Homes is above its future cash flow value.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for Invitation Homes's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Invitation Homes's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2019-03-31) in USD | $0.06 |
| NYSE:INVH Share Price ** | NYSE (2019-05-24) in USD | $25.77 |
| United States of America REITs Industry PE Ratio | Median Figure of 155 Publicly-Listed REITs Companies | 32.61x |
| United States of America Market PE Ratio | Median Figure of 3,084 Publicly-Listed Companies | 17.44x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Invitation Homes.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = NYSE:INVH Share Price ÷ EPS (both in USD) = 25.77 ÷ 0.06 |
413.44x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Invitation Homes is overvalued based on earnings compared to the US REITs industry average.
- Invitation Homes is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does
Invitation Homes's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 413.44x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 15 Analysts |
54.1%per year |
| United States of America REITs Industry PEG Ratio | Median Figure of 141 Publicly-Listed REITs Companies | 2.41x |
| United States of America Market PEG Ratio | Median Figure of 2,121 Publicly-Listed Companies | 1.51x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 413.44x ÷ 54.1% |
7.64x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Invitation Homes is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on
Invitation Homes's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2019-03-31) in USD | $15.50 |
| NYSE:INVH Share Price * | NYSE (2019-05-24) in USD | $25.77 |
| United States of America REITs Industry PB Ratio | Median Figure of 191 Publicly-Listed REITs Companies | 1.89x |
| United States of America Market PB Ratio | Median Figure of 5,207 Publicly-Listed Companies | 1.8x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = NYSE:INVH Share Price ÷ Book Value per Share (both in USD) = 25.77 ÷ 15.50 |
1.66x |
* Primary Listing of Invitation Homes.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Invitation Homes is good value based on assets compared to the US REITs industry average.
Value checks
We assess Invitation Homes's value by looking at:- Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
- Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check) Invitation Homes has a total score of 1/6, see the detailed checks below.
Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
Full details on the Value part of the Simply Wall St company analysis model.
INVH Future Performance
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Earnings growth vs Low Risk Savings
- Invitation Homes's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
- Invitation Homes's earnings growth is expected to exceed the United States of America market average.
- Invitation Homes's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| NYSE:INVH Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 15 Analysts | 54.1% |
| NYSE:INVH Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 15 Analysts | 3.6% |
| United States of America REITs Industry Earnings Growth Rate | Market Cap Weighted Average | 5.8% |
| United States of America REITs Industry Revenue Growth Rate | Market Cap Weighted Average | 4.4% |
| United States of America Market Earnings Growth Rate | Market Cap Weighted Average | 13.7% |
| United States of America Market Revenue Growth Rate | Market Cap Weighted Average | 7.3% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Analysts growth expectations
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (1 month ago) | See Below |
| Future Estimates | Average of up to 15 Analyst Estimates (S&P Global) | See Below |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2021-12-31 | 1,900 | 992 | 195 | 5 |
| 2020-12-31 | 1,842 | 804 | 120 | 14 |
| 2019-12-31 | 1,773 | 773 | 72 | 15 |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2019-03-31 | 1,735 | 624 | 32 |
| 2018-12-31 | 1,723 | 561 | -6 |
| 2018-09-30 | 1,620 | 506 | -77 |
| 2018-06-30 | 1,430 | 403 | -101 |
| 2018-03-31 | 1,239 | 317 | -81 |
| 2017-12-31 | 1,054 | 263 | -89 |
| 2017-09-30 | 959 | 273 | -69 |
| 2017-06-30 | 949 | 264 | -69 |
| 2017-03-31 | 937 | 249 | -94 |
| 2016-12-31 | 923 | 256 | -78 |
| 2016-09-30 | 905 | 249 | -90 |
| 2016-06-30 | 885 | 240 | -100 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (1 month ago) | See Below |
| Future Estimates | Average of up to 15 Analyst Estimates (S&P Global) | See Below |
All data from Invitation Homes Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2021-12-31 | 0.26 | 0.31 | 0.21 | 3.00 |
| 2020-12-31 | 0.20 | 0.27 | 0.14 | 8.00 |
| 2019-12-31 | 0.12 | 0.16 | 0.08 | 8.00 |
| Date (Data in USD Millions) | EPS * |
|---|---|
| 2019-03-31 | 0.06 |
| 2018-12-31 | -0.01 |
| 2018-09-30 | -0.16 |
| 2018-06-30 | -0.23 |
| 2018-03-31 | -0.21 |
| 2017-12-31 | -0.26 |
| 2017-09-30 | -0.22 |
| 2017-06-30 | -0.22 |
| 2017-03-31 | -0.30 |
| 2016-12-31 | -0.25 |
| 2016-09-30 | |
| 2016-06-30 |
*GAAP earnings excluding extraordinary items.
Future performance checks
We assess Invitation Homes's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Invitation Homes has a total score of 3/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
INVH Past Performance
How has Invitation Homes performed over the past 5 years?
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Past Earnings growth analysis
- Invitation Homes has delivered over 20% year on year earnings growth in the past 5 years.
- Invitation Homes has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
- Invitation Homes has become profitable in the last year making it difficult to compare the US REITs industry average.
Earnings and Revenue History
All data from Invitation Homes Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2019-03-31 | 1,734.79 | 32.46 | 74.11 | |
| 2018-12-31 | 1,722.96 | -5.74 | 73.63 | |
| 2018-09-30 | 1,620.30 | -77.06 | 84.95 | |
| 2018-06-30 | 1,429.59 | -100.63 | 83.32 | |
| 2018-03-31 | 1,239.38 | -81.05 | 83.02 | |
| 2017-12-31 | 1,054.46 | -89.07 | 118.02 | |
| 2017-09-30 | 959.05 | -69.49 | 101.55 | |
| 2017-06-30 | 948.56 | -68.69 | 102.05 | |
| 2017-03-31 | 936.84 | -93.78 | 99.03 | |
| 2016-12-31 | 922.59 | -78.24 | 56.12 | |
| 2016-09-30 | 904.72 | -90.13 | 65.39 | |
| 2016-06-30 | 885.02 | -99.52 | 60.57 | |
| 2016-03-31 | 857.54 | -125.02 | 69.98 | |
| 2015-12-31 | 836.05 | -160.21 | 79.43 | |
| 2014-12-31 | 658.72 | -269.86 | 88.18 |
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
- Invitation Homes has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- Invitation Homes used its assets less efficiently than the US REITs industry average last year based on Return on Assets.
- Invitation Homes has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Invitation Homes's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Invitation Homes has a total score of 2/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
INVH Health
How is Invitation Homes's financial health and their level of debt?
A company's financial position is much like your own financial position,
it includes everything you own
(assets)
and owe
(liabilities).The boxes below represent the relative size of what makes up Invitation Homes's finances.
The net worth of a company is the difference between its assets and liabilities.
- Invitation Homes is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- Invitation Homes's long term commitments exceed its cash and other short term assets.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
All data from Invitation Homes Company Filings, last reported 1 month ago.
| Date (Data in USD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2019-03-31 | 8,221.37 | 9,098.99 | 168.55 |
| 2018-12-31 | 8,369.19 | 9,340.78 | 220.35 |
| 2018-09-30 | 8,564.65 | 9,457.02 | 287.43 |
| 2018-06-30 | 8,583.58 | 9,675.27 | 304.11 |
| 2018-03-31 | 8,636.90 | 9,668.85 | 250.02 |
| 2017-12-31 | 8,649.88 | 9,651.66 | 237.49 |
| 2017-09-30 | 3,602.01 | 5,652.34 | 139.97 |
| 2017-06-30 | 3,643.97 | 5,655.07 | 161.89 |
| 2017-03-31 | 3,658.04 | 5,714.39 | 198.36 |
| 2016-12-31 | 1,957.42 | 7,578.96 | 198.12 |
| 2016-09-30 | 1,986.47 | 7,680.96 | 274.14 |
| 2016-06-30 | 2,003.70 | 7,693.83 | 299.55 |
| 2016-03-31 | 1,887.03 | 7,725.96 | 274.82 |
| 2015-12-31 | 1,887.03 | 7,725.96 | 274.82 |
| 2014-12-31 | 2,456.60 | 6,564.64 | 285.60 |
- Invitation Homes's level of debt (110.7%) compared to net worth is high (greater than 40%).
- Unable to establish if Invitation Homes's debt level has increased without past 5-year debt data.
- Debt is not well covered by operating cash flow (6.9%, less than 20% of total debt).
- Interest payments on debt are not well covered by earnings (EBIT is 1x annual interest expense, ideally 3x coverage).
Financial health checks
We assess Invitation Homes's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Invitation Homes has a total score of 1/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Full details on the Health part of the Simply Wall St company analysis model.
INVH Dividends
What is Invitation Homes's current dividend yield, its reliability and sustainability?
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
$2,000 of
Invitation Homes
shares you are expected to receive
$40
in your first year as a dividend.
Dividend Amount
- Invitation Homes's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.47%).
- Invitation Homes's dividend is below the markets top 25% of dividend payers in United States of America (3.75%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 15 Analyst Estimates (S&P Global) | See Below |
| United States of America REITs Industry Average Dividend Yield | Market Cap Weighted Average of 184 Stocks | 3.8% |
| United States of America Market Average Dividend Yield | Market Cap Weighted Average of 2007 Stocks | 2.5% |
| United States of America Minimum Threshold Dividend Yield | 10th Percentile | 0.8% |
| United States of America Bottom 25% Dividend Yield | 25th Percentile | 1.5% |
| United States of America Top 25% Dividend Yield | 75th Percentile | 3.8% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in $) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2021-12-31 | 0.58 | 6.00 |
| 2020-12-31 | 0.55 | 13.00 |
| 2019-12-31 | 0.51 | 14.00 |
| Date (Data in $) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-05-03 | 0.520 | 2.075 |
| 2019-02-01 | 0.520 | 2.188 |
| 2018-11-02 | 0.440 | 2.097 |
| 2018-08-03 | 0.440 | 1.932 |
| 2018-05-04 | 0.440 | 1.934 |
| 2018-02-02 | 0.440 | 1.976 |
| 2017-10-13 | 0.320 | 1.388 |
| 2017-08-04 | 0.320 | 1.418 |
| 2017-05-05 | 0.240 | 1.116 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Whilst dividend payments have been stable, Invitation Homes has been paying a dividend for less than 10 years.
- Dividend payments have increased, but Invitation Homes only paid a dividend in the past 2 years.
Income/ dividend checks
We assess Invitation Homes's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Invitation Homes afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Invitation Homes has a total score of 3/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
INVH Management
CEO
| COMPENSATION | $3,342,458 |
| AGE | 37 |
| TENURE AS CEO | 0.3 years |
CEO Bio
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 Invitation Homes Inc since August 27, 2018 until January 16, 2019. Mr. Tanner is the Co-Founder of Invitation Homes Inc. He served as the Chief Investment Officer of Invitation Homes Inc. since April 2012 until January 16, 2019 and was its Executive Vice President since April 2012 until August 27, 2018. Mr. Tanner has over 18 years of real estate experience through the establishment of numerous real estate platforms prior to Invitation Homes. In 2005, he founded Treehouse Group, for which he privately sourced funds for platform investments, including single-family homes, multifamily properties, manufactured housing, residential land, bridge financing and property management. In addition, Mr. Tanner was a Partner in a successful acquisition of First Scottsdale Bank of Arizona. He served as a Director of Invitation Homes Inc. since April 2012. He continues to serves on the board of Treehouse Group’s Pathfinder Ventures, a Southwest-focused commercial real estate fund established in 2011. Mr. Tanner served on the Maricopa County Flood Control board in Phoenix, Arizona and on the advisory board of First Scottsdale Bank. He is actively involved in American Indian Services and served as a missionary in the Netherlands and Belgium.
CEO Compensation
- Dallas's compensation has been consistent with company performance over the past year, both up more than 20%.
- Dallas's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure
Average tenure and age of the Invitation Homes management team in years:
- The tenure for the Invitation Homes management team is about average.
Management Team
Bryce Blair
Chairperson of the Board
$740K
59
Dallas Tanner
Co-Founder
$3M
37
0.3 yrs
Ernie Freedman
Executive VP & CFO
$3M
47
3.6 yrs
Charles Young
Executive VP & COO
$3M
50
1.5 yrs
Mark Solls
Executive VP
$2M
61
3.8 yrs
Kimberly Norrell
Senior VP & Chief Accounting Officer
Larry Gorman
Executive VP & CTO
50
Greg Winkle
Senior Director of Investor Relations
2.8 yrs
Kristi DesJarlais
Senior Vice President of Communications
0.7 yrs
John Gibson
Senior VP of Asset Management
2.2 yrs
Board of Directors Tenure
Average tenure and age of the Invitation Homes board of directors in years:
- The average tenure for the Invitation Homes board of directors is less than 3 years, this suggests a new board.
Board of Directors
Dallas Tanner
Co-Founder
$3M
37
0.3 yrs
John Rhea
Director
$200K
52
2.3 yrs
Bryce Blair
Chairperson of the Board
$740K
59
2.3 yrs
Janice Sears
Director
$200K
57
2.3 yrs
Bill Stein
Director
56
2.3 yrs
Rob Harper
Director
40
2.3 yrs
Ken Caplan
Director
45
1 yrs
Barry Sternlicht
Director
$180K
57
1.5 yrs
Jeffrey Kelter
Director
$180K
64
1.5 yrs
Skip Bronson
Director
$180K
73
1.5 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price ($) | Value ($) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 14. May 19 | Sell | Charles Young | Individual | 13. May 19 | 13. May 19 | -29,925 | $24.83 | $-743,038 | ||
| 14. Sep 18 | Sell | Starwood Capital Operations, LLC | Company | 14. Sep 18 | 14. Sep 18 | -199,374 | $23.55 | $-4,695,258 | ||
| 27. Mar 19 | Sell | The Blackstone Group L.P. | Company | 25. Mar 19 | 25. Mar 19 | -40,000,000 | $23.22 | $-928,800,000 | ||
| 14. Sep 18 | Sell | Barry Sternlicht | Individual | 14. Sep 18 | 14. Sep 18 | -1,110,475 | $23.55 | $-26,151,686 | ||
Management checks
We assess Invitation Homes's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Invitation Homes has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
INVH News
Simply Wall St News
Is Invitation Homes Inc. (NYSE:INVH) A Smart Choice For Dividend Investors?
(NYSE:INVH) be an attractive dividend share to own for the long haul? Investors are often drawn to strong companies with the idea of reinvesting the dividends. If you are hoping to live on the income from dividends, it's important to be a lot more stringent with your investments than the average punter. Some readers mightn't know much about Invitation Homes's 2.1% dividend, as it has only been paying distributions for the last two years. A low dividend might not be a bad thing, if the company is reinvesting heavily and growing its sales and profits. Some simple research can reduce the risk of buying Invitation Homes for its dividend - read on to learn more. Explore this interactive chart for our latest analysis on Invitation Homes! NYSE:INVH Historical Dividend Yield, May 17th 2019 Want to participate in a short research study? Help shape the future of investing tools and you could win a $250 gift card! Payout ratios Dividends are usually paid out of company earnings. If a company is paying more than it earns, then the dividend might become unsustainable - hardly an ideal situation. As a result, we should always investigate whether a company can afford its dividend, measured as a percentage of a company's net income after tax. Looking at the data, we can see that 46% of Invitation Homes's profits were paid out as dividends in the last 12 months. This is a middling range that strikes a nice balance between paying dividends to shareholders, and retaining enough earnings to invest in future growth. Besides, if reinvestment opportunities dry up, the company has room to increase the dividend. In addition to comparing dividends against profits, we should inspect whether the company generated enough cash to pay its dividend. Of the free cash flow it generated last year, Invitation Homes paid out 37% as dividends, suggesting the dividend is affordable. REITs like Invitation Homes often have different rules governing their distributions, so a higher payout ratio on its own is not unusual. Is Invitation Homes's Balance Sheet Risky? As Invitation Homes has a meaningful amount of debt, we need to check its balance sheet to see if the company might have debt risks. A rough way to check this is with these two simple ratios: a) net debt divided by EBITDA (earnings before interest, tax, depreciation and amortisation), and b) net interest cover. Net debt to EBITDA is a measure of a company's total debt. Net interest cover measures the ability to meet interest payments on debt. Essentially we check that a) a company does not have too much debt, and b) that it can afford to pay the interest. … With net debt of more than 5x EBITDA, Invitation Homes could be described as a highly leveraged company. … It's great to see that Invitation Homes is paying out a low percentage of its earnings and cash flow.
Simply Wall St - – Full articleRead This Before Buying Invitation Homes Inc. (NYSE:INVH) Shares
So we'll take a look at whether insiders have been buying or selling shares in Invitation Homes Inc. … But logic dictates you should pay some attention to whether insiders are buying or selling shares. … That means that an insider was selling shares at slightly below the current price (US$24.50).
Simply Wall St - – Full articleInvitation Homes Inc. (NYSE:INVH) Insiders Have Been Selling
So we'll take a look at whether insiders have been buying or selling shares in Invitation Homes Inc. … That means that an insider was selling shares at around the current price of US$20.75. … We usually pause to reflect on the potential that a stock has a high valuation, if insiders have been selling at around the current price
Simply Wall St - – Full articleWhat You Need To Know Before Investing In Invitation Homes Inc (NYSE:INVH)
real estate investment trust (REIT) based in Dallas, United States. … REITs are basically a portfolio of income-producing real estate investments, which are owned and operated by management of that trust company. … They have to meet certain requirements in order to become a REIT, meaning they should be analyzed a different way.
Simply Wall St - – Full articleIs Invitation Homes Inc (NYSE:INVH) A Healthy REIT?
real estate investment trust (REIT) based in Dallas, United States. … REITs are basically a portfolio of income-producing real estate investments, which are owned and operated by management of that trust company. … They have to meet certain requirements in order to become a REIT, meaning they should be analyzed a different way
Simply Wall St - – Full articleBeyond Invitation Homes Inc's (NYSE:INVH) Growth
Invitation Homes Inc (NYSE:INVH) continues to post impressive revenue growth and its prospects have never been brighter. … I will conduct a high level fundamental analysis on the company by looking at its past financials and growth prospects moving forward. … NYSE:INVH Future Profit May 14th 18 The company is growing incredibly fast, with a year-on-year revenue growth of 14.29% over the past financial year.
Simply Wall St - – Full article3 Days Left To Cash In On Invitation Homes Inc (NYSE:INVH) Dividend, Should Investors Buy?
Investors looking for higher income-generating stocks to add to their portfolio should keep reading, as I take a deeper dive into Invitation Homes's latest financial data to analyse its dividend attributes. … View our latest analysis for Invitation Homes 5 questions I ask before picking a dividend stock When assessing a stock as a potential addition to my dividend Portfolio, I look at these five areas: Is its annual yield among the top 25% of dividend-paying companies? … Invitation Homes has a negative payout ratio, which means that it is loss-making, and paying its dividend from its retained earnings.
Simply Wall St - – Full articleOnly 3 Days Left Before Invitation Homes Inc (NYSE:INVH) Will Start Trading Ex-Dividend, Should Investors Buy?
See our latest analysis for Invitation Homes 5 questions to ask before buying a dividend stock When researching a dividend stock, I always follow the following screening criteria: Is it the top 25% annual dividend yield payer? … NYSE:INVH Historical Dividend Yield Feb 8th 18 How does Invitation Homes fare? … Unfortunately, it is really too early to view Invitation Homes as a dividend investment.
Simply Wall St - – Full articleIs Invitation Homes Inc's (INVH) CEO Paid At A Competitive Rate?
See our latest analysis for INVH What has been the trend in INVH's earnings? … In the past year, INVH produced negative earnings of -$69.5M. … Typically I'd use market cap and profit as factors determining performance, however, INVH's negative earnings lower the effectiveness of this method.
Simply Wall St - – Full articleWho Owns Most Of Invitation Homes Inc (INVH)?
In this analysis, my focus will be on developing a perspective on Invitation Homes Inc’s (NYSE:INVH) latest ownership structure, a less discussed, but important factor. … A company's ownership structure is often linked to its share performance in both the long- and short-term. … View our latest analysis for Invitation Homes NYSE:INVH Ownership Summary Nov 21st 17 Institutional Ownership With an institutional ownership of 35.24%, INVH can face volatile stock price movements if institutions execute block trades on the open market, more so, when there are relatively small amounts of shares available on the market to trade Although INVH has a high institutional ownership, such stock moves, in the short-term, are more commonly linked to a particular type of active institutional investors – hedge funds.
Simply Wall St - – Full articleINVH Company Info
Description
Invitation Homes is a leading owner and operator of single-family rental homes, offering residents high-quality homes across America. With over 80,000 homes for lease in 17 markets across the country, Invitation Homes is meeting changing lifestyle demands by providing residents access to updated homes with features they value, such as close proximity to jobs and access to good schools. The Company's mission statement, "Together with you, we make a house a home," reflects its commitment to high-touch service that continuously enhances residents' living experiences and provides homes where individuals and families can thrive.
Details
| Name: | Invitation Homes Inc. |
| INVH | |
| Exchange: | NYSE |
| Founded: | 2012 |
| $13,669,805,764 | |
| $13,529,016,910 | |
| 530,454,240 | |
| Website: | http://www.InvitationHomes.com |
| Address: |
Invitation Homes Inc. 1717 Main Street, Suite 2000, Dallas, Texas, 75201, United States |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| NYSE | INVH | Common Stock | New York Stock Exchange | US | USD | 01. Feb 2017 | |
| DB | 4IV | Common Stock | Deutsche Boerse AG | DE | EUR | 01. Feb 2017 | |
| BMV | INVH * | Common Stock | Bolsa Mexicana de Valores | MX | MXN | 01. Feb 2017 |
Number of employees
Current staff
Industry
| Residential REITs | |
| Real Estate |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/05/26 00:50 |
| End of day share price update: | 2019/05/24 00:00 |
| Last estimates confirmation: | 2019/05/24 |
| Last earnings filing: | 2019/05/07 |
| Last earnings reported: | 2019/03/31 |
| Last annual earnings reported: | 2018/12/31 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
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.
