Evercore ISI analyst Steve Sakwa downgraded Invitation Homes to In Line from Outperform with a price target of $32, down from $33. The downgrade is driven by the stock’s relative valuation along with higher expenses and elevated capex in fiscal 2023, the analyst tells investors in a research note.
Published first on TheFly
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Read More on INVH:
- Invitation Homes sees FY23 core FFO $1.73-$1.81, consensus $1.81
- Invitation Homes reports Q4 core FFO 43c, consensus 42c
- Invitation Homes raises quarterly dividend 18% to 26c from 22c per share
- Invitation Homes CFO Ernie Freedman to step down
- Invitation Homes downgraded to Neutral from Outperform at Credit Suisse
