Millennium Management LLC raised its position in Invitation Homes Inc. (NYSE:INVH) by 36.7% in the first quarter, HoldingsChannel reports. The fund owned 4,042,347 shares of the company’s stock after purchasing an additional 1,085,549 shares during the quarter. Millennium Management LLC’s holdings in Invitation Homes were worth $129,315,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Ameritas Investment Company LLC acquired a new stake in Invitation Homes in the first quarter valued at approximately $32,000. Arkadios Wealth Advisors lifted its holdings in shares of Invitation Homes by 99.8% in the first quarter. Arkadios Wealth Advisors now owns 1,229 shares of the company’s stock valued at $39,000 after purchasing an additional 614 shares in the last quarter. ADE LLC bought a new position in shares of Invitation Homes in the fourth quarter valued at approximately $42,000. Ellevest Inc. lifted its holdings in shares of Invitation Homes by 44.3% in the first quarter. Ellevest Inc. now owns 2,063 shares of the company’s stock valued at $66,000 after purchasing an additional 633 shares in the last quarter. Finally, Banco de Sabadell S.A bought a new position in shares of Invitation Homes in the first quarter valued at approximately $86,000. 99.00% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have recently weighed in on INVH. Morgan Stanley raised their target price on Invitation Homes from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Friday, July 16th. Wolfe Research began coverage on Invitation Homes in a report on Monday, June 14th. They set an “outperform” rating and a $46.00 price target on the stock. Royal Bank of Canada began coverage on Invitation Homes in a report on Tuesday, March 30th. They set an “outperform” rating and a $35.00 price target on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on Invitation Homes from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, May 26th. Finally, Zacks Investment Research lowered Invitation Homes from a “buy” rating to a “hold” rating in a report on Wednesday, July 14th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Invitation Homes has an average rating of “Buy” and a consensus target price of $38.62.
Shares of INVH traded down $0.07 during mid-day trading on Thursday, hitting $39.85. The stock had a trading volume of 31,417 shares, compared to its average volume of 4,164,169. The company has a market capitalization of $22.62 billion, a price-to-earnings ratio of 30.96, a P/E/G ratio of 7.52 and a beta of 0.84. The stock’s fifty day moving average price is $37.48. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.04 and a current ratio of 1.04. Invitation Homes Inc. has a 52 week low of $26.35 and a 52 week high of $40.52.
Invitation Homes (NYSE:INVH) last issued its earnings results on Wednesday, April 28th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.23). The firm had revenue of $475.20 million during the quarter, compared to the consensus estimate of $473.21 million. Invitation Homes had a net margin of 11.01% and a return on equity of 2.40%. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.34 earnings per share. As a group, research analysts predict that Invitation Homes Inc. will post 1.38 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, May 28th. Stockholders of record on Tuesday, May 11th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.71%. The ex-dividend date was Monday, May 10th. Invitation Homes’s dividend payout ratio (DPR) is presently 53.13%.
About Invitation Homes
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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