Invitation Homes Inc. (NYSE:INVH) traded at a new 52-week high today of $39.39. Approximately 3.5 million shares have changed hands today, as compared to an average 30-day volume of 3.6 million shares.
Invitation Homes owns a portfolio of over 80,000 single-family rental homes. The company focuses on owning homes in the starter and move-up segments of the housing market with an average sale price below $300,000 and generally less than 1,800 square feet. The portfolio is spread across 16 target markets that feature high employment and household formation growth with nearly 70% of the portfolio in the Western U.S. and Florida; 15 of the 16 markets featuring average rents lower than homeownership costs.
Invitation Homes Inc. (NYSE:INVH) is currently priced 7.2% above its average consensus analyst price target of $36.47.
Over the past year, Invitation Homes Inc. has traded in a range of $26.35 to $39.39 and is now at $39.28, 49% above that low.
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