Invitation Homes (NYSE:INVH) Reaches New 52-Week High at $28.92

Shares of Invitation Homes Inc (NYSE:INVH) reached a new 52-week high on Thursday . The company traded as high as $28.92 and last traded at $28.86, with a volume of 76334 shares trading hands. The stock had previously closed at $28.56.

A number of research analysts have weighed in on INVH shares. Zacks Investment Research upgraded Invitation Homes from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research note on Wednesday, June 19th. 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. Evercore ISI downgraded Invitation Homes from an “outperform” rating to an “in-line” rating in a research note on Monday, June 10th. B. Riley set a $30.00 price target on Invitation Homes and gave the company a “buy” rating in a research note on Friday, August 16th. Finally, Royal Bank of Canada lifted their target price on Invitation Homes to $30.00 and gave the stock an “outperform” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $28.44.

The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 1.13. The company has a 50 day moving average price of $27.67 and a 200 day moving average price of $25.44. The company has a market capitalization of $15.37 billion, a P/E ratio of 125.37, a P/E/G ratio of 3.03 and a beta of 0.42.

Invitation Homes (NYSE:INVH) last issued its earnings results on Tuesday, July 30th. The company reported $0.07 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.24). Invitation Homes had a return on equity of 1.42% and a net margin of 4.91%. The business had revenue of $442.00 million for the quarter, compared to the consensus estimate of $442.81 million. During the same quarter in the prior year, the firm posted $0.29 earnings per share. The business’s revenue was up 2.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Invitation Homes Inc will post 1.26 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $0.52 annualized dividend and a dividend yield of 1.81%. Invitation Homes’s dividend payout ratio is currently 226.09%.

In related news, major shareholder Brep Ih6 Holdings Llc sold 40,000,000 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $25.21, for a total value of $1,008,400,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 shares were sold at an average price of $27.43, for a total value of $1,028,625,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 77,531,892 shares of company stock valued at $2,037,931,052 over the last quarter. 0.25% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its stake in shares of Invitation Homes by 11.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,014,865 shares of the company’s stock worth $80,618,000 after buying an additional 413,086 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in Invitation Homes by 92.5% in the first quarter. Nisa Investment Advisors LLC now owns 49,694 shares of the company’s stock worth $1,209,000 after purchasing an additional 23,873 shares during the period. IFM Investors Pty Ltd boosted its holdings in Invitation Homes by 25.6% in the first quarter. IFM Investors Pty Ltd now owns 18,845 shares of the company’s stock worth $458,000 after purchasing an additional 3,837 shares during the period. Gulf International Bank UK Ltd boosted its holdings in Invitation Homes by 1.5% in the first quarter. Gulf International Bank UK Ltd now owns 68,426 shares of the company’s stock worth $1,664,000 after purchasing an additional 1,044 shares during the period. Finally, Brinker Capital Inc. boosted its holdings in Invitation Homes by 21.3% in the first quarter. Brinker Capital Inc. now owns 20,290 shares of the company’s stock worth $494,000 after purchasing an additional 3,565 shares during the period.

Invitation Homes Company Profile (NYSE:INVH)

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.

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