Raymond James analyst Buck Horne downgraded Invitation Homes to Outperform from Strong Buy with a price target of $35, down from $44. Lingering bad debt accruals and surging real estate taxes will drag on FY23 FFO growth, and while SFR demand remains very strong, Horne these operating issues to act as headwinds over the next several quarters, the analyst tells investors in a research note.
Published first on TheFly
