Invitation Homes Inc. (NYSE:INVH – Get Rating)'s share price traded up 1.1% during mid-day trading on Friday . The company traded as high as $35.39 and last traded at $35.37. 48,955 shares were traded during mid-day trading, a decline of 100% from the average session volume of 10,211,686 shares. The stock had previously closed at $35.00.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on the stock. Evercore ISI dropped their price target on shares of Invitation Homes from $41.00 to $39.00 and set an "outperform" rating on the stock in a research note on Monday. The Goldman Sachs Group raised their price objective on Invitation Homes from $40.50 to $45.00 and gave the company a "buy" rating in a report on Tuesday, August 16th. Mizuho decreased their price objective on Invitation Homes from $45.00 to $44.00 and set a "buy" rating on the stock in a report on Wednesday, July 6th. Morgan Stanley raised their price objective on Invitation Homes from $40.50 to $45.00 and gave the company an "overweight" rating in a report on Thursday, August 25th. Finally, Jefferies Financial Group decreased their price objective on Invitation Homes from $44.00 to $41.00 and set a "buy" rating on the stock in a report on Thursday, June 30th. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Invitation Homes currently has an average rating of "Moderate Buy" and a consensus price target of $44.29.
Get Invitation Homes alerts:Invitation Homes Stock Performance
The firm has a 50 day moving average of $37.61 and a two-hundred day moving average of $38.05. The stock has a market cap of $21.25 billion, a PE ratio of 61.40, a PEG ratio of 3.13 and a beta of 0.90. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.10 and a quick ratio of 0.10.
Invitation Homes (NYSE:INVH – Get Rating) last posted its earnings results on Wednesday, July 27th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.22). The business had revenue of $557.30 million for 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%. Research analysts predict that Invitation Homes Inc. will post 1.65 EPS for the current fiscal year.Invitation Homes Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 26th. Shareholders of record on Tuesday, August 9th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date was Monday, August 8th. Invitation Homes's dividend payout ratio is currently 154.39%.
Institutional Investors Weigh In On Invitation Homes
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Invitation Homes during the fourth quarter worth approximately $1,359,468,000. Cohen & Steers Inc. grew its holdings in Invitation Homes by 66.8% during the first quarter. Cohen & Steers Inc. now owns 74,757,155 shares of the company's stock worth $3,004,285,000 after acquiring an additional 29,927,640 shares during the period. BlackRock Inc. grew its holdings in Invitation Homes by 16.3% during the fourth quarter. BlackRock Inc. now owns 50,992,689 shares of the company's stock worth $2,312,008,000 after acquiring an additional 7,152,163 shares during the period. Daiwa Securities Group Inc. grew its holdings in Invitation Homes by 63.8% during the first quarter. Daiwa Securities Group Inc. now owns 13,522,964 shares of the company's stock worth $543,353,000 after acquiring an additional 5,268,384 shares during the period. Finally, State Street Corp grew its holdings in 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 acquiring an additional 3,310,121 shares during the period. Hedge funds and other institutional investors own 95.52% of the company's stock.
Invitation Homes Company Profile
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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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