-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:
We raise our target by $1 to $30, using a forward P/FFO of 15.2x compared to five-year historic average near 20.0x given the overhang on potential federal legislation that may curtail the single-family residential market. We raise our FFO estimate for 2026 by $0.03 to $1.93 and increase 2027 estimate by $0.05 to $2.00 on projected revenue of $2.84B and $2.85B, respectively. We like that the shares offer a 4.3% dividend yield. We think INVH has ample liquidity to meet its debt obligations, working capital, construction expenditures, and development pipeline. Washington Analysis (WA), a CFRA business, puts the odd of single-family-homes-for-rent (SFHR) at 20% odds or lower, given the White House has not been actively involved in engagement. Furthermore, WA puts the odds at 45% the build-to-rent disposal language is materially softened or eliminated in a revised bill that passes both chambers in Congress. WA sees 35% odds the bills falls apart for the year. Thus, 20% the bill moves along with bipartisan support.