{"id":39014,"date":"2023-10-31T08:36:03","date_gmt":"2023-10-31T08:36:03","guid":{"rendered":"https:\/\/prosfunds.com\/markets\/stocks\/oppenheimer-bullish-on-invitation-homes-inc-due-to-attractive-2024-story\/"},"modified":"2023-10-31T08:36:04","modified_gmt":"2023-10-31T08:36:04","slug":"oppenheimer-bullish-on-invitation-homes-inc-due-to-attractive-2024-story","status":"publish","type":"post","link":"https:\/\/prosfunds.com\/?p=39014","title":{"rendered":"Oppenheimer bullish on Invitation Homes Inc. due to ‘attractive’ 2024 story"},"content":{"rendered":"
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\u00a9 Reuters. Oppenheimer bullish on Invitation Homes Inc. (INVH) due to ‘attractive’ 2024 story<\/span>
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Oppenheimer analysts upgraded shares of Invitation Homes (NYSE:) to Outperform from Perform, with a new price target of $35 per share in a note to clients on Monday.<\/p>\n

The analysts told investors that the company’s “attractive” 2024 story is coming into focus at a near-trough valuation.<\/p>\n

“Rent growth and occupancy should be above pre-pandemic averages next year, in our view,” the analysts said. “Higher mortgage rates have widened the gap between the cost to rent and own a home ($1,100 cheaper to rent in INVH markets). Limited inventory also makes finding a home to purchase difficult. These factors are tailwinds for INVH and contributing to increased demand.”<\/p>\n

“Several headwinds for OPEX are also expected to moderate. These factors should drive an acceleration in same-store NOI growth in 2024. INVH is unique in the REIT space given it has multiple avenues for external growth and ample liquidity,” they added.<\/p>\n

The analysts also noted that the SFR industry also benefits from “several thematic tailwinds.”<\/p>\n

“We see several big-picture themes making the SFR industry attractive, including positive demographics, an undersupply of housing, and low institutional ownership of SFR homes,” they explained. “These provide a constructive backdrop for the sector.”<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. Oppenheimer bullish on Invitation Homes Inc. (INVH) due to ‘attractive’ 2024 story Oppenheimer analysts upgraded shares of Invitation Homes (NYSE:) to Outperform from Perform, with a new price target of $35 per share in a note to clients on Monday. The analysts told investors that the company’s “attractive” 2024 story is coming into […]<\/p>\n","protected":false},"author":1,"featured_media":8281,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[37],"tags":[],"class_list":{"0":"post-39014","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-stocks"},"yoast_head":"\nOppenheimer bullish on Invitation Homes Inc. due to 'attractive' 2024 story | Prosfunds<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. Oppenheimer bullish on Invitation Homes Inc. 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