(INVH) Invitation Homes - Overview

Sector: Real Estate | Industry: REIT - Residential | Exchange: NYSE (USA) | Market Cap: 16.592m USD | Total Return: -15.3% in 12m

Single-Family Rentals, Property Management, Asset Management
Total Rating 38
Safety 37
Buy Signal -0.99
REIT - Residential
Industry Rotation: +6.2
Market Cap: 16.6B
Avg Turnover: 155M
Risk 3d forecast
Volatility22.9%
VaR 5th Pctl4.02%
VaR vs Median6.45%
Reward TTM
Sharpe Ratio-0.87
Rel. Str. IBD28.9
Rel. Str. Peer Group60.5
Character TTM
Beta0.137
Beta Downside0.190
Hurst Exponent0.406
Drawdowns 3y
Max DD30.87%
CAGR/Max DD-0.08
CAGR/Mean DD-0.24
EPS (Earnings per Share) EPS (Earnings per Share) of INVH over the last years for every Quarter: "2021-03": 0.1, "2021-06": 0.11, "2021-09": 0.12, "2021-12": 0.12, "2022-03": 0.15, "2022-06": 0.18, "2022-09": 0.13, "2022-12": 0.16, "2023-03": 0.2, "2023-06": 0.22, "2023-09": 0.21, "2023-12": 0.21, "2024-03": 0.23, "2024-06": 0.12, "2024-09": 0.15, "2024-12": 0.1433, "2025-03": 0.1725, "2025-06": 0.1585, "2025-09": 0.22, "2025-12": 0.1469, "2026-03": 0.1292,
EPS CAGR: -8.46%
EPS Trend: -23.7%
Last SUE: -1.66
Qual. Beats: -1
Revenue Revenue of INVH over the last years for every Quarter: 2021-03: 475.225, 2021-06: 491.633, 2021-09: 509.532, 2021-12: 520.225, 2022-03: 532.31, 2022-06: 557.3, 2022-09: 568.675, 2022-12: 579.836, 2023-03: 589.89, 2023-06: 600.372, 2023-09: 617.695, 2023-12: 624.321, 2024-03: 646.039, 2024-06: 653.451, 2024-09: 660.322, 2024-12: 659.13, 2025-03: 674.479, 2025-06: 681.401, 2025-09: 688.166, 2025-12: 685.25, 2026-03: 734.112,
Rev. CAGR: 7.62%
Rev. Trend: 98.4%
Last SUE: 4.00
Qual. Beats: 1

Warnings

High Debt/EBITDA (5.9) with thin interest coverage (2.0)

Altman Z'' -0.42 < 1.0 - financial distress zone

Tailwinds

No distinct edge detected

Description: INVH Invitation Homes

Invitation Homes Inc. (NYSE: INVH) is a prominent Real Estate Investment Trust (REIT) specializing in the acquisition, renovation, and management of single-family rental properties. The company operates a vertically integrated platform across 16 core markets, primarily concentrated in the Western United States, Florida, and the Southeast. Its portfolio consists of over 86,000 wholly owned homes, supplemented by joint ventures and third-party management services.

The business model focuses on high-barrier-to-entry markets with strong employment drivers and limited housing supply. By targeting homes averaging 1,880 square feet with three to four bedrooms, the company attracts a resident demographic that typically demonstrates lower turnover rates compared to traditional multifamily apartment tenants. Single-family REITs benefit from localized density, which allows for operational efficiencies in maintenance and property oversight that are difficult for smaller scale investors to replicate.

Investors looking for deeper insights into these portfolio dynamics can explore further data on ValueRay. The company continues to expand its footprint through strategic mergers and disciplined asset selection to capture long-term rent growth within the suburban residential sector.

Headlines to Watch Out For
  • Mortgage rate volatility impacts single-family home demand and acquisition costs
  • Rent growth trends in Western and Sunbelt markets drive core revenue
  • Third-party property management expansion scales fee-based income and margins
  • Supply shortages in single-family housing support high occupancy and retention
  • Local legislative changes regarding rent control pose significant regulatory risks
Piotroski VR‑10 (Strict) 5.5
Net Income: 582.7m TTM > 0 and > 6% of Revenue
FCF/TA: 0.06 > 0.02 and ΔFCF/TA 1.29 > 1.0
NWC/Revenue: -22.64% < 20% (prev -5.22%; Δ -17.43% < -1%)
CFO/TA 0.06 > 3% & CFO 1.20b > Net Income 582.7m
Net Debt (8.69b) to EBITDA (1.47b): 5.89 < 3
Current Ratio: 0.37 > 1.5 & < 3
Outstanding Shares: last quarter (606.2m) vs 12m ago -1.16% < -2%
Gross Margin: 45.04% > 18% (prev 0.59%; Δ 4.44k% > 0.5%)
Asset Turnover: 14.96% > 50% (prev 14.25%; Δ 0.71% > 0%)
Interest Coverage Ratio: 1.97 > 6 (EBITDA TTM 1.47b / Interest Expense TTM 364.4m)
Altman Z'' -0.42
A: -0.03 (Total Current Assets 373.0m - Total Current Liabilities 1.00b) / Total Assets 18.70b
B: -0.09 (Retained Earnings -1.63b / Total Assets 18.70b)
C: 0.04 (EBIT TTM 717.2m / Avg Total Assets 18.64b)
D: -0.17 (Book Value of Equity -1.61b / Total Liabilities 9.57b)
Altman-Z'' Score: -0.42 = B
Beneish M -3.05
DSRI: 1.30 (Receivables 89.1m/65.1m, Revenue 2.79b/2.65b)
GMI: 1.31 (GM 45.04% / 59.00%)
AQI: 0.07 (AQ_t 0.06 / AQ_t-1 0.96)
SGI: 1.05 (Revenue 2.79b / 2.65b)
TATA: -0.03 (NI 582.7m - CFO 1.20b) / TA 18.70b)
Beneish M-Score: -3.05 (Cap -4..+1) = AA
What is the price of INVH shares? As of May 18, 2026, the stock is trading at USD 27.93 with a total of 5,722,177 shares traded.
Over the past week, the price has changed by -2.78%, over one month by +3.33%, over three months by +4.17% and over the past year by -15.33%.
Is INVH a buy, sell or hold? Invitation Homes has received a consensus analysts rating of 3.67. Therefor, it is recommend to hold INVH.
  • StrongBuy: 5
  • Buy: 6
  • Hold: 13
  • Sell: 0
  • StrongSell: 0
What are the forecasts/targets for the INVH price?
Analysts Target Price 31.4 12.5%
Invitation Homes (INVH) - Fundamental Data Overview as of 18 May 2026
P/E Trailing = 29.4
P/E Forward = 35.0877
P/S = 5.9694
P/B = 1.8773
P/EG = 12.9175
Revenue TTM = 2.79b USD
EBIT TTM = 717.2m USD
EBITDA TTM = 1.47b USD
Long Term Debt = 8.24b USD (from longTermDebt, last quarter)
Short Term Debt = 560.0m USD (from shortTermDebt, last quarter)
Debt = 8.80b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 8.69b USD (from netDebt column, last quarter)
Enterprise Value = 25.28b USD (16.59b + Debt 8.80b - CCE 114.1m)
Interest Coverage Ratio = 1.97 (Ebit TTM 717.2m / Interest Expense TTM 364.4m)
EV/FCF = 22.30x (Enterprise Value 25.28b / FCF TTM 1.13b)
FCF Yield = 4.49% (FCF TTM 1.13b / Enterprise Value 25.28b)
FCF Margin = 40.66% (FCF TTM 1.13b / Revenue TTM 2.79b)
Net Margin = 20.89% (Net Income TTM 582.7m / Revenue TTM 2.79b)
Gross Margin = 45.04% ((Revenue TTM 2.79b - Cost of Revenue TTM 1.53b) / Revenue TTM)
Gross Margin QoQ = 55.10% (prev 3.09%)
Tobins Q-Ratio = 1.35 (Enterprise Value 25.28b / Total Assets 18.70b)
Interest Expense / Debt = 1.08% (Interest Expense 95.3m / Debt 8.80b)
Taxrate = 21.0% (US default 21%)
NOPAT = 566.6m (EBIT 717.2m * (1 - 21.00%))
Current Ratio = 0.37 (Total Current Assets 373.0m / Total Current Liabilities 1.00b)
Debt / Equity = 0.97 (Debt 8.80b / totalStockholderEquity, last quarter 9.09b)
Debt / EBITDA = 5.89 (Net Debt 8.69b / EBITDA 1.47b)
Debt / FCF = 7.66 (Net Debt 8.69b / FCF TTM 1.13b)
Total Stockholder Equity = 9.48b (last 4 quarters mean from totalStockholderEquity)
RoA = 3.13% (Net Income 582.7m / Total Assets 18.70b)
RoE = 6.15% (Net Income TTM 582.7m / Total Stockholder Equity 9.48b)
RoCE = 4.05% (EBIT 717.2m / Capital Employed (Equity 9.48b + L.T.Debt 8.24b))
RoIC = 3.17% (NOPAT 566.6m / Invested Capital 17.88b)
WACC = 4.52% (E(16.59b)/V(25.39b) * Re(6.47%) + D(8.80b)/V(25.39b) * Rd(1.08%) * (1-Tc(0.21)))
Discount Rate = 6.47% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.92%
Shares (quarterly) Correlation: -77.78 | Cagr: -0.54%
[DCF] Terminal Value 86.93% ; FCFF base≈1.03b ; Y1≈1.10b ; Y5≈1.32b
[DCF] Fair Price = 50.95 (EV 38.95b - Net Debt 8.69b = Equity 30.26b / Shares 594.0m; r=6.0% [WACC]; 5y FCF grow 7.00% → 3.0% )
EPS Correlation: -23.72 | EPS CAGR: -8.46% | SUE: -1.66 | # QB: -1
Revenue Correlation: 98.37 | Revenue CAGR: 7.62% | SUE: 4.0 | # QB: 1
EPS current Quarter (2026-06-30): EPS=0.13 | Chg30d=-18.34% | Revisions=N/A | Analysts=1
EPS next Quarter (2026-09-30): EPS=0.12 | Chg30d=-24.91% | Revisions=N/A | Analysts=1
EPS current Year (2026-12-31): EPS=0.68 | Chg30d=+2.39% | Revisions=N/A | GrowthEPS=+9.1% | GrowthRev=+3.8%
EPS next Year (2027-12-31): EPS=0.68 | Chg30d=-3.83% | Revisions=-33% | GrowthEPS=+0.2% | GrowthRev=+2.4%
[Analyst] Revisions Ratio: -33%