Invitation Homes (INVH) Fair Value & Analysis
Real Estate · US · Market cap $16.9B
Invitation Homes
INVH · US
Fair value as of: Jul 26, 2026
From 14 valuation models · updated 15 days ago
Share price +2.5% over the past month.
A solid business, but screening 45% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case ($21.03). The favourable scenario is already priced in.
- Solid but not exceptional quality (60/100) and above fair value, neither a clear bargain nor a standout compounder.
- As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 26, 2026.
How to read this chart
60‑month range $24.10 – $39.14 · fair‑value band $12.62 – $21.03 · the $30.37 price screens above the $16.82 fair value. Dashed = 300-day average. As of Jul 26, 2026.
Analysis
Invitation Homes (INVH) currently trades at $30.37, while our model-based Fair Value estimate is $16.82, implying the stock looks roughly 44.6% overvalued today. The Quality Score stands at 60/100 (solid quality), in the Real Estate sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Invitation Homes generated revenue of $2.8B at a net margin of 21.0%. Revenue grew 9.2% year over year. It earns a return on equity of 6.2%. Net debt stands at $8.3B. Fundamentals as of Jul 26, 2026
Our scenario range runs from $12.62 (bear case) to $21.03 (bull case); at $30.37, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 7% below its 52-week high and 27% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -39% fair-value upside, at -45%, INVH screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 14 models by family
Widest divergence: DCF Models ($20.92) versus Growth DCF ($8.89). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 26, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 58 · Market factors (momentum, volatility) 60
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Invitation Homes is a leading owner and operator of single-family homes for lease, offering residents high quality homes in sought after neighborhoods across the United States.
Full company description
Invitation Homes is a leading owner and operator of single-family homes for lease, offering residents high quality homes in sought after neighborhoods across the United States. As of December 31, 2025, we wholly own 86,192 homes for lease, jointly own 8,006 homes for lease, and provide professional third-party property and asset management services for an additional 15,866 homes, all of which are primarily located in 16 core markets across the country. These homes help meet the needs of a growing share of Americans who count on the ease, flexibility, and savings of leasing. We provide our residents access to updated homes with features they value, as well as close proximity to jobs and good schools. The continued demand for our product proves that the choice and flexibility we offer are attractive to many people. We operate in markets with strong demand drivers, high barriers to entry, and high rent growth potential, primarily in the Western United States, Florida, and the Southeast United States. Through disciplined market and asset selection, as well as through strategic mergers and acquisitions, we designed our wholly and jointly owned portfolios to capture the operating benefits of local density as well as economies of scale that we believe cannot be readily replicated. Since our founding in 2012, we have built a proven, vertically integrated operating platform that enables us to effectively and efficiently acquire, renovate, lease, maintain, and manage both the homes we own and those we manage on behalf of others. The portfolio of homes we own average approximately 1,880 square feet with three to four bedrooms and two bathrooms, appealing to a resident base that we believe is less transitory than a typical multifamily resident. We invest in the upfront renovation of homes in our portfolio in order to address capital needs, reduce ongoing maintenance costs, and drive resident demand Invitation Homes Inc. was incorporated in 6th June 2012 and is based in Dallas, United States.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Invitation Homes reported revenue of $2.7B in FY2025 versus $2.0B in FY2021, a compound +8.1%/yr. Reported net income was $588M in FY2025, compounding +22.5%/yr from FY2021.
INVH screens 45% overvalued. Compare with AvalonBay Communities, Inc →
Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Is Invitation Homes (INVH) Cheap When Earnings Look Fair?
- Do Wall Street Analysts Like Invitation Homes Stock?
- Invitation Homes Inc (INVH) (Q2 2026) Earnings Call Highlights: Core FFO Grows 5%, Share ...
- INVH Q2 FFO Beats Estimates on NOI Growth, Revenues Top, '26 View Up
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more REIT - Residential stocks, each showing price versus our Fair Value estimate (as of Jul 26, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| AvalonBay Communities, Inc AVB | $190.80 | $126.12 | -34% |
| EQR EQR | $67.86 | $38.10 | -44% |
| Essex Property Trust, Inc ESS | $293.46 | $177.90 | -39% |
| Mid-America Apartment Communities, Inc MAA | $133.88 | $65.28 | -51% |
| Sun Communities, Inc SUI | $121.83 | $114.79 | -6% |
| UDR, Inc UDR | $39.59 | $19.76 | -50% |
| American Homes 4 Rent (AMH or the General Partner) AMH | $33.11 | $21.44 | -35% |
| Equity LifeStyle Properties, Inc ELS | $66.05 | $21.27 | -68% |
| Camden Property Trust, an S&P 500 Company CPT | $113.73 | $41.87 | -63% |
| Millrose Properties, Inc MRP | $28.52 | $41.87 | +47% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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