Bank of Nova Scotia Boosts Stake in Invitation Homes Inc. (NYSE:INVH)

Bank of Nova Scotia raised its holdings in shares of Invitation Homes Inc. (NYSE:INVHFree Report) by 34.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 73,085 shares of the company’s stock after buying an additional 18,704 shares during the quarter. Bank of Nova Scotia’s holdings in Invitation Homes were worth $2,493,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Norges Bank bought a new stake in Invitation Homes during the fourth quarter worth about $1,346,883,000. Principal Financial Group Inc. lifted its stake in Invitation Homes by 0.7% during the fourth quarter. Principal Financial Group Inc. now owns 20,923,484 shares of the company’s stock worth $713,700,000 after purchasing an additional 147,050 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in Invitation Homes by 9.6% during the third quarter. Canada Pension Plan Investment Board now owns 12,335,488 shares of the company’s stock worth $390,912,000 after purchasing an additional 1,080,000 shares during the last quarter. Morgan Stanley lifted its stake in Invitation Homes by 19.5% during the third quarter. Morgan Stanley now owns 8,993,919 shares of the company’s stock worth $285,017,000 after purchasing an additional 1,466,330 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Invitation Homes by 2.2% during the third quarter. Northern Trust Corp now owns 7,066,681 shares of the company’s stock worth $223,943,000 after purchasing an additional 151,903 shares during the last quarter. 96.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Cohen Jana Barbe sold 7,200 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $34.58, for a total transaction of $248,976.00. Following the transaction, the director now directly owns 28,068 shares of the company’s stock, valued at approximately $970,591.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, COO Charles D. Young sold 5,000 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $34.85, for a total value of $174,250.00. Following the transaction, the chief operating officer now directly owns 275,296 shares of the company’s stock, valued at approximately $9,594,065.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Cohen Jana Barbe sold 7,200 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $34.58, for a total value of $248,976.00. Following the completion of the transaction, the director now directly owns 28,068 shares in the company, valued at $970,591.44. The disclosure for this sale can be found here. Insiders have sold 22,200 shares of company stock valued at $770,726 in the last ninety days. 0.28% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on INVH. Keefe, Bruyette & Woods lifted their price target on Invitation Homes from $37.00 to $38.00 and gave the stock a “market perform” rating in a research note on Monday, May 13th. JMP Securities reissued a “market outperform” rating and issued a $40.00 target price on shares of Invitation Homes in a research note on Thursday, March 7th. Citigroup reissued a “neutral” rating and issued a $39.00 target price on shares of Invitation Homes in a research note on Friday, March 22nd. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 target price on shares of Invitation Homes in a research note on Thursday, February 15th. Finally, Mizuho lowered their target price on Invitation Homes from $37.00 to $36.00 and set a “neutral” rating for the company in a research note on Monday. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Invitation Homes has a consensus rating of “Moderate Buy” and a consensus price target of $38.12.

Check Out Our Latest Research Report on Invitation Homes

Invitation Homes Stock Performance

INVH stock opened at $34.73 on Thursday. The stock has a market capitalization of $21.27 billion, a PE ratio of 39.92, a price-to-earnings-growth ratio of 2.14 and a beta of 0.99. Invitation Homes Inc. has a 12-month low of $28.49 and a 12-month high of $36.53. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.53. The stock’s 50 day simple moving average is $34.59 and its 200 day simple moving average is $34.07.

Invitation Homes (NYSE:INVHGet Free Report) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.22). The business had revenue of $646.04 million during the quarter, compared to the consensus estimate of $630.97 million. Invitation Homes had a net margin of 21.75% and a return on equity of 5.29%. As a group, research analysts forecast that Invitation Homes Inc. will post 1.82 earnings per share for the current fiscal year.

Invitation Homes Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 19th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.28 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.12 annualized dividend and a dividend yield of 3.22%. Invitation Homes’s payout ratio is 128.74%.

About Invitation Homes

(Free Report)

Invitation Homes, an S&P 500 company, is the nation's premier single-family home leasing and management company, meeting changing lifestyle demands by providing access to high-quality, updated homes with valued features such as close proximity to jobs and access to good schools. The company's mission, Together with you, we make a house a home, reflects its commitment to providing homes where individuals and families can thrive and high-touch service that continuously enhances residents' living experiences.

See Also

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Institutional Ownership by Quarter for Invitation Homes (NYSE:INVH)

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