Invitation Homes Inc. (INVH)
Real Estate · Single-Family Residential REITs · US stock · S&P 500 component
$27.53
▲ +0.72 (2.69%)
Fair valueFair
$31 +12.9% to fair value
$16fair band $26–$38$47
Day's range
$26.85 – $27.59
52-week range
$24.25 – $30.89
About Invitation Homes Inc.
Invitation Homes is a real estate investment trust that owns and operates a large portfolio of single-family rental homes, mostly in warm-weather markets across the United States. It leases houses to residents, typically on annual terms, and handles maintenance and property management. Revenue comes mainly from rent, with smaller amounts from fees and other services, and results depend on occupancy, local rent trends and operating costs.
The company pays a dividend with a yield of 4.4%. Looking at the numbers, trailing revenue is $2.9 billion, and it expanded at 6.8% a year across three years. Taken together, these figures give an X-Ray Score of 59 out of 100. The figures describe past results only and are drawn from the latest reported period. Some other measures are not covered here, so this summary is limited to the data above.
Price chart
52-wk range $24.25 – $30.89Volume 5,271,658Daily, split-adjusted
Vitals
Market cap$16.3B
52-week range$24.25 – $30.89
Volume (last day)5,271,658
P/E (TTM)25.3
EBIT / EV yield–
Free-cash-flow yield–
Dividend yield4.4%
Revenue (TTM)$2.9B
Net income (TTM)$661M
Operating margin–
Return on capital–
Debt incl. leases$8.6B
Cash & securities$76M
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$31middle half of models $30 – $32
Fair
+12.9% to fair value
Average of the 4 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is Medium, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.
Price $28
Undervalued < $26Fair $26 – $38Overvalued > $38
P/B multiple
$30
P/S multiple
$33
P/FFO multiple
$31
P/AFFO multiple
$30
Dividend discount, stable · not used
$70
Dividend discount, multi-stage · not used
$151
A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.
What this means
Average business, fairly priced
The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Real Estate peers. Open a lens to see the numbers behind it.
Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data
Valuation
Fair
60/100
Priced about in line with its sector.
See the numbers →
Fair value vs price1.1×
Growth
Fair
56/100
Growing at a typical pace for its sector.
See the numbers →
Revenue growth (3y)6.8%
EPS growth (3y)15.1%
Growth consistency100%
Profitability
Weak
33/100
Earns lower returns on its capital than most peers.
See the numbers →
Financial health
Strong
91/100
Balance sheet looks strong: debt is well covered.
See the numbers →
Piotroski F-Score8 / 9
Dividends
Fair
64/100
Dividend is typical for its sector.
See the numbers →
Dividend yield4.4%
Dividend growth9.8%
Quarterly results: last 6 quarters
+4.4%
Mar '25
+4.3%
Jun '25
+4.2%
Sep '25
+4.0%
Dec '25
+8.8%
Mar '26
+9.7%
Jun '26
Revenue against the same quarter a year earlier. Latest quarter revenue $748M, diluted EPS $0.37.
SWOT analysis: Invitation Homes Inc.
Strengthsinside the company
- Earnings per share have compounded at 15.1% a year over three years.
- Passes 8 of the 9 Piotroski tests, which points to improving profitability, funding and efficiency.
Weaknessesinside the company
- No clear weakness in the figures we track.
Opportunitiesvaluation and setting
- Trades at 24.7x earnings, 23% below the 32.2x median of sector peers.
Threatsvaluation and setting
- Our Market Compass rates the backdrop for Real Estate as unfavourable.
Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.
Compare INVH with peers and sector
Medians of 28 Real Estate peers and of 28 Real Estate stocks in our universe.
Largest peers (X-Ray Score): WELL 48, PLD 43, EQIX 51, AMT 53, SPG 42, DLR 37.
| Metric | INVH | Peers | Sector |
|---|---|---|---|
| X-Ray Score (out of 100) | 59 | 51 | 51 |
| Valuation | 60 | 52 | 52 |
| Growth | 56 | 56 | 56 |
| Profitability | 33 | 53 | 53 |
| Financial health | 91 | 53 | 53 |
| Dividends | 64 | 47 | 47 |
Sector leaders: highest X-Ray Score in Real Estate
INVH ranks #4 of 29 in Real Estate by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.
Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.
Factor ratings for INVH
Each factor is rated by where INVH stands among the 29 Real Estate stocks in our universe.
Rating against the sector
Goodthe top third of these stocks
Averagethe middle third of these stocks
Badthe bottom third of these stocks
"Beats" is the share of those stocks it is ahead of.
Against its own history
The last columns set today's figure against the company's own median of its last five financial years:
▲ Betterbetter than its usual level
▼ Worseworse than its usual level
≈ In linewithin its usual range
For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.
In total: 5 Good · 6 Average · 1 Bad of 12
Growth: 1 · 2 · 0
Profitability: 0 · 2 · 0
Financial strength: 1 · 0 · 0
Valuation: 3 · 0 · 0
Cash flow: 0 · 2 · 1
| Factor | INVH | Rating | Sector median | Own 5-year median | Against own history |
|---|---|---|---|---|---|
| Growth | |||||
| Revenue growth, 3 years a year | +6.8% | Average beats 50% | +6.8% | – | – |
| Revenue growth, last year | +4.2% | Average beats 40% | +5.1% | +8.7% | ▼ Worse |
| EPS growth, 3 years a year | +15.1% | Good beats 67% | −1.9% | – | – |
| Profitability | |||||
| Net margin | 23.1% | Average beats 60% | 21.5% | 17.3% | ▲ Better |
| Return on equity | 7.3% | Average beats 52% | 7.3% | 4.7% | ▲ Better |
| Financial strength | |||||
| Piotroski F-score | 8 / 9 | Good beats 91% | 6 / 9 | – | – |
| Valuation | |||||
| P/E ratio | 24.7x | Good beats 73% | 32.1x | 43.2x | ▲ Better |
| Price / book | 1.8x | Good beats 75% | 2.6x | 2.0x | ≈ In line |
| Price / sales | 5.7x | Good beats 71% | 7.0x | 8.1x | ▲ Better |
| Cash flow | |||||
| Free cash flow margin | 42.0% | Average beats 47% | 44.6% | 45.5% | ≈ In line |
| Cash from operations / net income | 1.82 | Average beats 45% | 1.91 | 2.38 | ▼ Worse |
| Accruals (lower is better) | −2.9% | Bad beats 33% | −3.7% | – | – |
These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings). A dash in the history columns means fewer than three usable years.
Fundamentals checklist
● 3 Good · ● 2 Average · ● 1 BadCash quality
Earnings backed by cashBad
Risk models
Piotroski F-ScoreGood
Growth
EPS growth (3y)Good
Revenue growth (3y)Average
Growth consistencyGood
Balance sheet
Valuation
Fair value vs priceAverage
Profitability
Each check is graded against the company's sector, not a fixed number. Checklist score 57/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $2.0B | $2.2B | $2.4B | $2.6B | $2.7B |
| Operating income | – | – | – | – | – |
| Net income | $261M | $383M | $519M | $454M | $588M |
| Operating cash flow | $908M | $1.0B | $1.1B | $1.1B | $1.2B |
| Operating margin | – | – | – | – | – |
| Free cash flow | – | – | – | – | – |
| Diluted EPS | $0.45 | $0.63 | $0.85 | $0.74 | $0.96 |
Fiscal years, from SEC filings.
Technical summary
Daily
Neutral
7 bullish · 1 neutral · 8 bearish
Weekly
Bearish
3 bullish · 1 neutral · 8 bearish
Monthly
Bearish
2 bullish · 1 neutral · 5 bearish
Moving averages (daily)
| SMA 10 | 26.85 | Bullish |
| EMA 10 | 26.89 | Bullish |
| SMA 20 | 26.59 | Bullish |
| EMA 20 | 26.85 | Bullish |
| SMA 50 | 27.64 | Bearish |
| EMA 50 | 27.40 | Bullish |
| SMA 100 | 28.49 | Bearish |
| EMA 100 | 27.75 | Bearish |
| SMA 200 | 27.27 | Bullish |
| EMA 200 | 27.80 | Bearish |
Oscillators (daily)
| RSI (14) | 58.34 | Neutral |
| MACD (12, 26) | -0.09 | Bearish |
| Momentum (12) | 4.32 | Bullish |
| Stochastic %K (14) | 96.88 | Bearish |
| Williams %R (14) | -3.12 | Bearish |
| CCI (20) | 189.3 | Bearish |
Pivot points (classic, last session)
S3 26.32 | S2 26.59 | S1 27.06 | Pivot 27.32 | R1 27.79 | R2 28.06 | R3 28.53 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
Dividends
Paid, last 12 months
1.20 USD
Yield on today's price
4.36%
Frequency
Quarterly
Next ex-dividend date
Not announced
| Ex-dividend date | Amount per share |
|---|---|
| 0.3000 | |
| 0.3000 | |
| 0.3000 | |
| 0.3000 | |
| 0.2900 | |
| 0.2900 | |
| 0.2900 | |
| 0.2900 | |
| 0.2800 | |
| 0.2800 | |
| 0.2800 | |
| 0.2800 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
ETFs that hold INVH
| ETF | Share of the fund |
|---|---|
| REZ iShares Residential and Multisector Re... | 3.67% |
| ICF iShares Cohen & Steers REIT | 1.96% |
| XLRE The Real Estate Select Sector SPDR | 1.71% |
| RWR SPDR Dow Jones REIT | 1.55% |
| USRT iShares Core U.S. REIT | 1.42% |
| SPYD SPDR Portfolio S&P 500 High Dividend | 1.31% |
| DFAR DFA Investment Dimensions Group Inc. | 1.22% |
| IYR iShares U.S. Real Estate | 1.22% |
The eight funds with the largest weight in INVH among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.
INVH SEC filings
8-KSEC EDGAR
Regulation FD disclosure
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations
8-KSEC EDGAR
Entered a material agreement
8-KSEC EDGAR
Other events
424B5SEC EDGAR
424B5
424B5SEC EDGAR
424B5
8-KSEC EDGAR
Regulation FD disclosure
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.