As previously reported, Jefferies analyst Linda Tsai downgraded Invitation Homes (INVH) to Hold from Buy with a price target of $31, down from $38. She is more cautious on both Apartment and Single Family REITs in 2023 given macro concerns and the potential deterioration in occupancy and rent growth due to potential job losses in 2023 and more muted external growth expectations, Tsai tells investors. Among the groups, UDR (UDR) and MAA (MAA) "appear best-positioned to weather the storm," contends Tsai, who has Buy ratings on that pair.
Published first on TheFly
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Read More on INVH:
- Invitation Homes downgraded to Hold from Buy at Jefferies
- Invitation Homes downgraded to Neutral from Overweight at JPMorgan
- Invitation Homes price target lowered to $39 from $41 at Barclays
- Invitation Homes downgraded to Neutral from Buy at Goldman Sachs
- Invitation Homes price target lowered to $35 from $41 at KeyBanc