Barclays analyst Anthony Powell lowered the firm’s price target on Invitation Homes to $39 from $41 and keeps an Overweight rating on the shares. The analyst remains positive on the single family rental sector, with leasing spreads "remaining relatively resilient given increasing housing affordability challenges and a sticky tenant base." In addition, there are signs transaction activity could increase for the sector, which would be a positive catalyst, Powell tells investors in a research note.
Published first on TheFly
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