Invitation Homes downgraded to Market Perform from Outperform at Raymond James

Raymond James downgraded Invitation Homes (INVH) to Market Perform from Outperform. Residential REITs are being downgraded as rental demand deterioration across multifamily and single-family rental segments accelerates into early 2026, raising concerns that consensus and recently issued 2026 guidance may prove too optimistic, the analyst tells investors in a research note. Despite management assumptions of a seasonally normal leasing recovery and improved 2H26 comps, weak leasing trends, elevated new supply and concessions, macro headwinds such as AI-driven job displacement and stricter immigration enforcement, and rising regulatory risks suggest downside risk to earnings expectations, the firm says.