Royal Bank of Canada Lowers Invitation Homes (NYSE:INVH) to Sector Perform

Royal Bank of Canada lowered shares of Invitation Homes (NYSE:INVH) from an outperform rating to a sector perform rating in a research report sent to investors on Monday morning, Marketbeat Ratings reports. Royal Bank of Canada currently has $36.00 price objective on the stock, down from their prior price objective of $37.00.

A number of other analysts also recently issued reports on INVH. JPMorgan Chase & Co. raised their price objective on Invitation Homes from $35.00 to $36.00 and gave the stock a neutral rating in a research report on Monday, June 17th. Evercore ISI raised their target price on Invitation Homes from $37.00 to $38.00 and gave the company an outperform rating in a report on Wednesday, August 28th. Scotiabank raised their target price on Invitation Homes from $36.00 to $38.00 and gave the company a sector perform rating in a report on Thursday, May 16th. Barclays dropped their price objective on shares of Invitation Homes from $41.00 to $40.00 and set an overweight rating for the company in a report on Wednesday, May 29th. Finally, The Goldman Sachs Group assumed coverage on shares of Invitation Homes in a report on Wednesday, September 4th. They set a buy rating and a $46.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $38.85.

Invitation Homes Stock Down 0.2 %

Shares of INVH opened at $36.00 on Monday. Invitation Homes has a 52-week low of $28.49 and a 52-week high of $37.80. The company has a market capitalization of $22.05 billion, a PE ratio of 41.33, a price-to-earnings-growth ratio of 4.49 and a beta of 1.01. The stock has a fifty day simple moving average of $35.75 and a two-hundred day simple moving average of $35.12. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.54.

Invitation Homes (NYSE:INVH) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.34). The business had revenue of $653.45 million for the quarter, compared to analyst estimates of $654.70 million. Invitation Homes had a return on equity of 4.68% and a net margin of 18.75%. As a group, equities analysts forecast that Invitation Homes will post 1.83 EPS for the current year.

Invitation Homes Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Thursday, June 27th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend was Thursday, June 27th. Invitation Homes’s dividend payout ratio (DPR) is 128.74%.

Hedge Funds Weigh In On Invitation Homes

Several large investors have recently bought and sold shares of INVH. State Board of Administration of Florida Retirement System boosted its holdings in shares of Invitation Homes by 5.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 669,816 shares of the company’s stock valued at $23,852,000 after acquiring an additional 36,951 shares during the period. Illinois Municipal Retirement Fund grew its position in Invitation Homes by 56.4% during the 1st quarter. Illinois Municipal Retirement Fund now owns 173,384 shares of the company’s stock worth $6,174,000 after purchasing an additional 62,547 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Invitation Homes by 14.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,056,785 shares of the company’s stock valued at $37,632,000 after purchasing an additional 131,068 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Invitation Homes in the first quarter valued at about $2,635,000. Finally, Nomura Holdings Inc. acquired a new stake in shares of Invitation Homes during the fourth quarter worth about $3,482,000. Institutional investors and hedge funds own 96.79% of the company’s stock.

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.