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Invitation Homes (INVH)
NYSEReal EstateReit - ResidentialSnapshot 2026-06-16
Intact
$29.00-0.60%
Close 2026-06-16 · 1-day change
Recent financial performance is holding in the top half of its industry — the reason to own it looks intact.
The bottom line
Recent financial performance is strong, and management's recent track record has been steady. Earnings quality is neutral, and risk is moderate, while the sector backdrop is a headwind. Compared with sector peers, INVH is above typical. Peer multiples imply a price about 6% above where it trades (it looks cheap on this basis); the read is fair. This analysis is provisional.
as of 2026-06-16
Quick facts
- Exchange
- NYSE
- Sector
- Real Estate
- Industry
- Reit - Residential
- Market cap
- $17.63B
- Employees
- 1,725
- IPO date
- 2017-03-30
- Next earnings
- 2026-07-29
Price
Daily closes. Earnings/event dots are placed inline.
Adjusted daily closes (split & dividend). Scroll over the chart to zoom; click a range to reset.
EarningsMaterial event
What's priced in
(what the market already expects)What it's worth (estimated)
A consensus fair price across 7 valuation methods, at three horizons. Current price $29.00. Estimates are diagnostics, not price targets. Short-horizon estimates are close to coin-flips, so confidence is a method-agreement read, not a prediction.
12-month· primaryfair
$30.73consensus
Range $22.33 – $33.40
vs price: -6% below
Method agreement — · 7 methods
No-growth: today's peer multiple on trailing earnings. The headline read.
3-yearfair
$37.90consensus
Range $32.83 – $39.80
vs price: -23% below
Method agreement — · 6 methods
Embeds projected growth. Leans optimistic by design. Upside context.
5-yearinexpensive
How much to trust our fair value
We take the 12-month fair value above and grade our own number — how the market prices this name versus what we'd justify, and where the two diverge.
Optionality premiumlow confidence
At $29, INVH's earnings are too small for P/E to mean much; on sales it trades at 50× p/e (3.1× the 16× p/e peer median, and 0.9× even its own history). At a normal multiple the price implies ~-7% near-term growth vs our ~14% forecast. That gap is an optionality premium a financial-multiple model can't price — our $31 fair value covers only the as-is business, low confidence. Analysts: $27–$35. Not investment advice.
Multiple (P/E)
49.7x
peer 16.1x · own history 53.7x
Premium
3.1x peer
0.9x its own history
Growth the price needs
-7%
our forecast 14%
Our fair value
$31.29
range $21.07 – $33.78
Analyst range
How this stock is priced
One valuation read at a 12-month horizon, plus how price compares to peers and the company's own history.
Long-term · 1–3 yr
fairfair12-month view
What's priced inJustified
The price implies about 7% below a flat-multiple fair value, below our forecast of about 14%. This describes what's priced in, not a forecast of the move.
Low fragilityrisk posture, not a price call
Only a turbulent sector regime (Heating) — not the full expensive x weak x turbulent stack.
Historical context
For similar setups historically (n=20,154): about 33% saw a 20%+ drawdown, and roughly 76% of those did not recover within the year. These are historical base rates for the cohort, not a forecast of this stock.
How strong is the business
(quality & execution)Factor signals
Each factor is a parallel diagnostic with a clear read of what it shows and how names like it have historically fared. Never aggregated into a single score.
Recent financial performance
strongOperating income rose in 3 of the last 3 quarter-over-quarter moves. Historically, Real Estate names rated strong grew net income 57% of the time over the next year (vs 54% for the rest of the cohort, n=1506).
87th pctl · Real Estate
Earnings quality
neutralOver the trailing year it converted 2.06x of net income into operating cash flow. Historically, Real Estate names rated neutral grew net income 61% of the time over the next year (vs 47% for the rest of the cohort, n=1866).
59th pctl · Real Estate
Macro sensitivity
Most sensitive to the broad stock market.
- the broad stock market: This stock moves with the broad market (high beta).
Not enough signal to read sensitivity to the US dollar, real (inflation-adjusted) rates, long-term interest rates, Fed net liquidity.
Management & capital allocation
stableEarnings setup & market context
The next print and the backdrop around it (sector regime and the AI cycle). Context for the path, not a forecast of returns.
Earnings setup · pre-print positioning
forward-looking
NeutralEPS revised +7.2% / 30d, n=3for period ending 2026-06-30
Why this setup
Consensus revisions
EPS estimate $0.13 → $0.14 (+7.2% / 30d). 0 raised, 1 cut, 3 covering analysts.
Rating actions
1 upgrade, 1 downgrade / 30d, 4 maintained. 48% of analysts rate Buy.
Price target activity
4 PT revisions / 30d. Avg target 5.3% above current price.
Sector context
Intermediate · WeeklySector phase: real estate is in maturing, with decelerating (~1.2 years in phase).
Sector regime (90d momentum): headwind.Secular epoch: by revenue growth.Management scorecard
How management runs the business: capital, margins, balance sheet, and how reliably they guide and deliver.
Long-term · 1–3 yr
Overall: neutralProvisional
- Capital allocation
- neutral
- Earnings discipline
- neutral
- Balance sheet
- neutral
- Post-call reaction
- neutral
A guidance track record builds as the company issues and delivers on guidance.
as of 2026-06-16
How bumpy is the path
(risk while you hold it)Risk: how this stock moves
What a normal day, a bad day, and the worst of the last year would mean for a $10,000 position.
Intermediate · WeeklyLong-term · 1–3 yr
On a typical day, $10k can swing ±$79.
How much price usually moves either way.
On a bad day, this stock has moved -$212.
A rough but not unusual down day (about the 95th percentile).
In the worst 12 months, $10k could have lost $2,613.
Deepest peak-to-trough drop in the last year.
moderateas of 2026-06-16
Past results, not a forecast. Not investment advice.
What would change the read
(catalysts & re-read triggers)What changed
The most important moves since the prior daily snapshot.
Short-term · Daily
- No material changes since the prior snapshot.
No material changes since the prior snapshot.
as of 2026-06-16
What to watch next
Specific, dated things to watch for, each with what would confirm it and what would prove it wrong.
Intermediate · Weekly
- UpsideHigh confidenceQuartersactive 11d
Watch for Q2 2026 Same Store NOI growth
Why it matters: This will show if the company can stabilize its revenue after a recent decline.
What confirms / what disproves
Confirms:Same Store NOI growth for Q2 2026 turns positive year over year.
Disproves:Same Store NOI growth for Q2 2026 remains negative year over year.
Earnings call
News catalysts
Recent news graded against this company's own objectives — whether it reinforces or challenges the thesis, and how confirmed it is.
No graded news catalysts for INVH yet.
This sector is also watching
- Watch for revenue growth speeding up in the Real Estate sector.
- Watch for FOMC decisions that change interest rates.
What could change this view
Conditional scenarios: if X happens, the view would shift in this direction. These are not predictions.
Intermediate · Weekly
Upside triggers
- If the Fed starts cutting rates from the current 3.62%, that would be a tailwind for INVH and other Real Estate names, since rate-sensitive parts of the market tend to rally when the Fed eases.
- If sector bellwethers like AVB, EQR, and ESS keep beating earnings and guiding higher, the Real Estate sector momentum should keep lifting INVH and other Real Estate names. Worth watching these names for early signals.
- If INVH raises forward guidance on the next earnings call (currently NEW as of 2026-04-29), that's a momentum boost. Street estimates typically follow guidance up and the stock tends to re-rate higher.
Downside triggers
- If INVH cuts guidance on the next call (currently NEW as of 2026-04-29), that's a meaningful negative. The Street tends to walk down estimates and the stock usually takes a leg lower.
- If sector bellwethers like AVB, EQR, and ESS start missing or guiding lower, the Real Estate tailwind helping INVH and other Real Estate names could fade. Watch these names for early warning.
Recent events
(material 8-K / filing activity)Material updates
Recent SEC 8-K filings ranked by likely impact, confidence, and recency.
- 2026-04-291mo agoItem 2.02
Results of Operations and Financial Condition. On April 29, 2026, Invitation Homes Inc. (the “Company”) issued a press release announcing the results of the Company’s operations for the quarter ended March 31, 2026. The full text of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. The information in this Current Report on Form 8-K, including Exhibit 99.1 hereto, is being furnished pursuant to
Earnings preannouncementnegative
Score history
Whether the overall read has been drifting up or down lately, and how it's changed since last week.
About the same as last weeklatest as of 2026-06-17
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.