Invitation Homes Inc. (NYSE:INVH) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its position in Invitation Homes Inc. (NYSE:INVH – Get Rating) by 74.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,385,731 shares of the company’s stock after purchasing an additional 1,876,220 shares during the quarter. Bank of New York Mellon Corp owned about 0.72% of Invitation Homes worth $148,105,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its position in Invitation Homes by 40.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 131,614 shares of the company’s stock worth $4,444,000 after purchasing an additional 37,595 shares during the period. Credit Suisse AG grew its holdings in Invitation Homes by 2.8% during the third quarter. Credit Suisse AG now owns 805,602 shares of the company’s stock worth $27,206,000 after acquiring an additional 21,807 shares during the period. Aviva PLC grew its holdings in Invitation Homes by 2.4% during the third quarter. Aviva PLC now owns 532,576 shares of the company’s stock worth $17,985,000 after acquiring an additional 12,652 shares during the period. State Board of Administration of Florida Retirement System raised its position in Invitation Homes by 0.5% during the third quarter. State Board of Administration of Florida Retirement System now owns 681,886 shares of the company’s stock valued at $23,027,000 after acquiring an additional 3,528 shares in the last quarter. Finally, Toronto Dominion Bank lifted its holdings in Invitation Homes by 59.6% in the third quarter. Toronto Dominion Bank now owns 318,465 shares of the company’s stock valued at $10,751,000 after acquiring an additional 118,927 shares during the period. 98.43% of the stock is currently owned by hedge funds and other institutional investors.

Invitation Homes Stock Performance

INVH opened at $30.49 on Friday. The firm has a market capitalization of $18.64 billion, a PE ratio of 49.18, a PEG ratio of 2.70 and a beta of 0.89. Invitation Homes Inc. has a twelve month low of $28.52 and a twelve month high of $44.36. The firm’s 50-day moving average price is $31.81 and its 200 day moving average price is $32.42. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.53.

Invitation Homes (NYSE:INVH – Get Rating) last posted its quarterly earnings results on Wednesday, February 15th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.25). The business had revenue of $579.84 million for the quarter, compared to analyst estimates of $566.68 million. Invitation Homes had a return on equity of 3.89% and a net margin of 17.10%. As a group, sell-side analysts expect that Invitation Homes Inc. will post 1.75 EPS for the current fiscal year.

Invitation Homes Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 28th. Shareholders of record on Tuesday, February 14th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 3.41%. 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. Invitation Homes’s payout ratio is presently 167.74%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on INVH. KeyCorp cut their target price on shares of Invitation Homes from $41.00 to $35.00 and set an “overweight” rating for the company in a report on Wednesday, December 7th. Scotiabank began coverage on shares of Invitation Homes in a report on Tuesday, January 17th. They issued a “sector perform” rating and a $30.00 price objective for the company. Morgan Stanley cut their price objective on shares of Invitation Homes from $45.00 to $35.00 and set an “overweight” rating for the company in a report on Monday, December 12th. Wolfe Research cut shares of Invitation Homes from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 29th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Invitation Homes in a report on Tuesday, November 22nd. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $35.69.

About Invitation Homes

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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.