Invitation Homes (NYSE:INVH) Price Target Raised to $37.00

Invitation Homes (NYSE:INVH) had its price target upped by Evercore ISI from $36.00 to $37.00 in a research report report published on Tuesday, Benzinga reports. They currently have an in-line rating on the stock.

INVH has been the subject of several other research reports. Keefe, Bruyette & Woods restated a market perform rating and issued a $38.00 price objective on shares of Invitation Homes in a research report on Monday, June 17th. Mizuho dropped their price objective on shares of Invitation Homes from $37.00 to $36.00 and set a neutral rating for the company in a research report on Monday, June 3rd. Raymond James boosted their price objective on shares of Invitation Homes from $37.00 to $39.00 and gave the stock an outperform rating in a research report on Thursday, March 28th. Scotiabank boosted their price objective on shares of Invitation Homes from $36.00 to $38.00 and gave the stock a sector perform rating in a research report on Thursday, May 16th. Finally, Citigroup restated a neutral rating and issued a $39.00 price objective on shares of Invitation Homes in a research report on Friday, March 22nd. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $38.06.

Invitation Homes Stock Performance

NYSE:INVH opened at $35.45 on Tuesday. Invitation Homes has a 1 year low of $28.49 and a 1 year high of $36.53. The firm has a 50 day moving average of $35.20 and a 200-day moving average of $34.41. 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 has a market capitalization of $21.71 billion, a P/E ratio of 40.75, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99.

Invitation Homes (NYSE:INVH) last posted its earnings results on Tuesday, April 30th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.22). Invitation Homes had a net margin of 21.75% and a return on equity of 5.29%. The firm had revenue of $646.04 million during the quarter, compared to the consensus estimate of $630.97 million. As a group, sell-side analysts anticipate that Invitation Homes will post 1.83 EPS for the current fiscal year.

Invitation Homes Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 19th. Stockholders of record on Thursday, June 27th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend is Thursday, June 27th. Invitation Homes’s dividend payout ratio (DPR) is 128.74%.

Insider Buying and Selling

In related news, Director Cohen Jana Barbe sold 7,200 shares of the company’s stock in a transaction on Friday, May 24th. The shares were 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 of the company’s stock, valued at approximately $970,591.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Cohen Jana Barbe sold 7,200 shares of the company’s stock in a transaction on Friday, May 24th. The shares were 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 of the company’s stock, valued at approximately $970,591.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Charles D. Young sold 5,000 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $34.85, for a total transaction of $174,250.00. Following the completion of the transaction, the chief operating officer now directly owns 275,296 shares of the company’s stock, valued at $9,594,065.60. The disclosure for this sale can be found here. Company insiders own 0.28% of the company’s stock.

Institutional Investors Weigh In On Invitation Homes

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cohen & Steers Inc. lifted its position in Invitation Homes by 1.3% during the 4th quarter. Cohen & Steers Inc. now owns 80,498,790 shares of the company’s stock worth $2,746,208,000 after buying an additional 1,008,392 shares in the last quarter. Norges Bank bought a new stake in Invitation Homes during the 4th quarter worth about $1,346,883,000. Principal Financial Group Inc. lifted its position in Invitation Homes by 0.7% during the 4th quarter. Principal Financial Group Inc. now owns 20,923,484 shares of the company’s stock worth $713,700,000 after buying an additional 147,050 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in Invitation Homes by 27.2% during the 1st quarter. Canada Pension Plan Investment Board now owns 15,686,912 shares of the company’s stock worth $558,611,000 after buying an additional 3,351,424 shares in the last quarter. Finally, Morgan Stanley raised its holdings in shares of Invitation Homes by 19.5% in the 3rd quarter. Morgan Stanley now owns 8,993,919 shares of the company’s stock valued at $285,017,000 after purchasing an additional 1,466,330 shares during the period. 96.79% of the stock is owned by institutional investors.

About Invitation Homes

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.