Invitation Homes Inc (NYSE:INVH) Major Shareholder Holdings L.P. Blackstone II Sells 37,500,000 Shares

Invitation Homes Inc (NYSE:INVH) major shareholder Holdings L.P. Blackstone II sold 37,500,000 shares of the business’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $27.43, for a total value of $1,028,625,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Shares of INVH traded down $0.67 during trading hours on Friday, hitting $27.03. 4,185,549 shares of the stock traded hands, compared to its average volume of 6,167,251. The firm has a fifty day simple moving average of $27.07. The stock has a market capitalization of $14.19 billion, a price-to-earnings ratio of 117.52, a PEG ratio of 3.43 and a beta of 0.42. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.12. Invitation Homes Inc has a 1-year low of $19.21 and a 1-year high of $28.17.

Invitation Homes (NYSE:INVH) last released its quarterly earnings data on Monday, May 6th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.26). The company had revenue of $435.50 million during the quarter, compared to the consensus estimate of $434.60 million. Invitation Homes had a net margin of 1.89% and a return on equity of 1.10%. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.29 EPS. As a group, equities research analysts expect that Invitation Homes Inc will post 1.26 earnings per share for the current year.

Several brokerages have recently issued reports on INVH. Raymond James reaffirmed a “buy” rating and set a $0.65 price target on shares of DB Commodity Double Short ETN in a research note on Wednesday, May 15th. BTIG Research set a $27.00 price target on Invitation Homes and gave the company a “buy” rating in a research note on Tuesday, May 14th. Keefe, Bruyette & Woods upped their price target on Fidelity National Financial from $44.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday. Evercore ISI lowered Invitation Homes from an “outperform” rating to an “in-line” rating in a research note on Monday, June 10th. Finally, Zacks Investment Research lowered CGI from a “buy” rating to a “hold” rating in a research note on Wednesday, June 19th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $27.92.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in INVH. Cohen & Steers Inc. increased its holdings in Invitation Homes by 11.8% in the fourth quarter. Cohen & Steers Inc. now owns 38,017,950 shares of the company’s stock valued at $763,400,000 after purchasing an additional 4,011,363 shares during the last quarter. Norges Bank bought a new stake in Invitation Homes in the fourth quarter valued at about $69,745,000. BlackRock Inc. increased its holdings in Invitation Homes by 11.4% in the first quarter. BlackRock Inc. now owns 28,528,818 shares of the company’s stock valued at $694,106,000 after purchasing an additional 2,926,081 shares during the last quarter. Zimmer Partners LP increased its holdings in Invitation Homes by 58.2% in the fourth quarter. Zimmer Partners LP now owns 7,874,801 shares of the company’s stock valued at $158,126,000 after purchasing an additional 2,896,804 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Invitation Homes by 13.5% in the first quarter. Principal Financial Group Inc. now owns 23,416,592 shares of the company’s stock valued at $569,726,000 after purchasing an additional 2,783,568 shares during the last quarter.

Invitation Homes Company Profile

Invitation Homes is a leading owner and operator of single-family rental homes, offering residents high-quality homes across America. With over 80,000 homes for lease in 17 markets across the country, Invitation Homes is meeting changing lifestyle demands by providing residents access to updated homes with features they value, such as close proximity to jobs and access to good schools.

See Also: New Google Finance Tool and Screening Stocks

Receive News & Ratings for Invitation Homes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Invitation Homes and related companies with MarketBeat.com's FREE daily email newsletter.