Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Invitation Homes Inc. (NYSE:INVH – Get Rating) by 20.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 107,126 shares of the company's stock after acquiring an additional 17,890 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Invitation Homes were worth $4,259,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in INVH. Vanguard Group Inc. raised its holdings 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 purchasing an additional 2,784,696 shares in the last quarter. Cohen & Steers Inc. raised its holdings in Invitation Homes by 66.8% in the first quarter. Cohen & Steers Inc. now owns 74,757,155 shares of the company's stock worth $3,004,285,000 after purchasing an additional 29,927,640 shares in the last quarter. BlackRock Inc. raised its holdings in Invitation Homes by 16.3% in the fourth quarter. BlackRock Inc. now owns 50,992,689 shares of the company's stock worth $2,312,008,000 after purchasing an additional 7,152,163 shares in the last quarter. Norges Bank bought a new position in Invitation Homes in the fourth quarter worth $1,359,468,000. Finally, State Street Corp increased its holdings 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 valued at $1,168,062,000 after acquiring an additional 3,310,121 shares in the last quarter. Institutional investors own 95.52% of the company's stock.
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Invitation Homes Trading Up 0.1 %
Shares of NYSE:INVH opened at $35.03 on Friday. The stock has a market capitalization of $21.38 billion, a price-to-earnings ratio of 61.46, a PEG ratio of 3.13 and a beta of 0.90. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.10 and a current ratio of 0.10. The stock's 50-day simple moving average is $37.59 and its two-hundred day simple moving average is $38.02. Invitation Homes Inc. has a 52-week low of $33.15 and a 52-week high of $45.80.
Invitation Homes (NYSE:INVH – Get Rating) last announced its earnings results on Wednesday, July 27th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.22). The firm had revenue of $557.30 million during the quarter, compared to analysts' expectations of $548.52 million. Invitation Homes had a return on equity of 3.66% and a net
margin of 16.37%. Analysts expect that Invitation Homes Inc. will post 1.65 EPS for the current year.
Invitation Homes Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, August 26th. Shareholders of record on Tuesday, August 9th were given a $0.22 dividend. The ex-dividend date of this dividend was Monday, August 8th. This represents a $0.88 annualized dividend and a yield of 2.51%. Invitation Homes's payout ratio is 154.39%.
Wall Street Analyst Weigh In
INVH has been the subject of several analyst reports. Jefferies Financial Group reduced their price target on Invitation Homes from $44.00 to $41.00 and set a "buy" rating for the company in a report on Thursday, June 30th. KeyCorp reduced their price target on Invitation Homes from $46.00 to $41.00 and set an "overweight" rating for the company in a report on Tuesday, June 28th. Evercore ISI reduced their price target on Invitation Homes from $41.00 to $39.00 and set an "outperform" rating for the company in a report on Monday, September 19th. Mizuho reduced their price target on Invitation Homes from $45.00 to $44.00 and set a "buy" rating for the company in a report on Wednesday, July 6th. Finally, Raymond James restated a "strong-buy" rating and set a $44.00 price target (down from $48.00) on shares of Invitation Homes in a report on Thursday, June 23rd. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Invitation Homes presently has an average rating of "Moderate Buy" and an average price target of $44.29.
About Invitation Homes
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Invitation Homes is the nation's premier single-family home leasing 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.
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