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Invitation Homes upgraded to Buy from Neutral at Citi

Citi analyst Eric Wolfe upgraded Invitation Homes (INVH) to Buy from Neutral with a price target of $38.50, up from $35, as part of a broader research note on REITs and Lodging. Invitation’s earnings and same-store net operating income, SSNOI, growth rates will catch up to AMH within the next 6-12 months, the analyst tells investors in a research note, further stating that the REIT’s SSNOI guidance is more conservative. Citi adds that May will likely represent the peak of AMH’s new lease growth, surprising some investors.

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