Jefferies downgraded Invitation Homes (INVH) to Hold from Buy with a price target of $33, down from $39 as part of a 2025 outlook for residential real estate investment trusts. Continued supply will likely slow the company’s sales growth, the analyst tells investors in a research note. The firm says Invitation is facing competition from build-to-rent supply, which pushed new lease rate growth into negative territory in October. While management points to slowing deliveries in 2025 as a reason for optimism, Jefferies is skeptical that concessions will burn off quickly. Further, if interest rates remain elevated, the incremental benefit to Invitation seeing higher demand from renters is nominal, as rates are already high, contends the firm.
Don't Miss Our New Year's Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on INVH:
- Invitation Homes price target lowered to $37 from $40 at JPMorgan
- Barclays starts Invitation Homes at Overweight, says overhangs in rearview
- Invitation Homes initiated with an Overweight at Barclays
- Invitation Homes raises quarterly dividend to 29c from 28c per share
- Invitation Homes announces $200M joint venture
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
