First Trust Advisors LP lifted its stake in Invitation Homes Inc. (NYSE:INVH – Get Rating) by 7.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 225,053 shares of the company’s stock after purchasing an additional 15,567 shares during the quarter. First Trust Advisors LP’s holdings in Invitation Homes were worth $7,600,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Invitation Homes by 3.3% in the first quarter. Vanguard Group Inc. now owns 86,649,432 shares of the company’s stock worth $3,481,574,000 after acquiring an additional 2,784,696 shares during the period. BlackRock Inc. boosted its position in shares of Invitation Homes by 18.1% during the third quarter. BlackRock Inc. now owns 58,699,529 shares of the company’s stock worth $1,982,284,000 after buying an additional 9,004,231 shares during the period. State Street Corp boosted its position in shares of Invitation Homes by 12.8% during the first quarter. State Street Corp now owns 29,070,728 shares of the company’s stock worth $1,168,062,000 after buying an additional 3,310,121 shares during the period. FMR LLC raised its stake in shares of Invitation Homes by 4.4% in the second quarter. FMR LLC now owns 20,757,751 shares of the company’s stock valued at $738,560,000 after acquiring an additional 881,365 shares in the last quarter. Finally, Centersquare Investment Management LLC raised its stake in shares of Invitation Homes by 3.0% in the third quarter. Centersquare Investment Management LLC now owns 11,828,086 shares of the company’s stock valued at $399,435,000 after acquiring an additional 341,045 shares in the last quarter. Institutional investors and hedge funds own 98.43% of the company’s stock.
Invitation Homes Stock Performance
NYSE INVH opened at $31.13 on Tuesday. Invitation Homes Inc. has a 52-week low of $28.52 and a 52-week high of $44.36. The business’s 50-day moving average price is $31.67 and its 200 day moving average price is $32.55. The firm has a market cap of $19.03 billion, a P/E ratio of 50.21, a P/E/G ratio of 2.59 and a beta of 0.89. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.53.
Invitation Homes Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 28th. Investors of record on Tuesday, February 14th were paid a dividend of $0.26 per share. This is a positive change from Invitation Homes’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Monday, February 13th. This represents a $1.04 annualized dividend and a yield of 3.34%. Invitation Homes’s dividend payout ratio is 167.74%.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on INVH. JPMorgan Chase & Co. lowered Invitation Homes from an “overweight” rating to a “neutral” rating and set a $35.00 price objective on the stock. in a report on Friday, December 16th. Credit Suisse Group cut shares of Invitation Homes from an “outperform” rating to a “neutral” rating and set a $31.00 price objective for the company. in a report on Monday, January 9th. Mizuho reduced their price target on shares of Invitation Homes from $39.00 to $36.00 in a research report on Friday, December 2nd. The Goldman Sachs Group lowered shares of Invitation Homes from a “buy” rating to a “neutral” rating and lowered their target price for the company from $38.00 to $35.00 in a research note on Thursday, December 8th. Finally, Scotiabank assumed coverage on shares of Invitation Homes in a research report on Tuesday, January 17th. They issued a “sector perform” rating and a $30.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Invitation Homes presently has a consensus rating of “Hold” and a consensus price target of $35.75.
Invitation Homes Company Profile
Invitation Homes, Inc engages in the acquisition, renovation, leasing, and operation of single-family homes as rental properties, including single-family homes in planned unit developments. Its services include property management, selection of homes, maintenance program, and online payment. The company was founded by Marcus Ridgway, Dallas Tanner, and Brad Greiwe in 2012 and is headquartered in Dallas, TX.
- Get a free copy of the StockNews.com research report on Invitation Homes (INVH)
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