Invitation Homes (NYSE:INVH) Price Target Cut to $37.00 by Analysts at Royal Bank of Canada

Invitation Homes (NYSE:INVH) had its price objective cut by Royal Bank of Canada from $39.00 to $37.00 in a report issued on Friday, Benzinga reports. They currently have an outperform rating on the stock.

A number of other research firms have also commented on INVH. Scotiabank upped their price target on shares of Invitation Homes from $36.00 to $38.00 and gave the company a sector perform rating in a report on Thursday, May 16th. Raymond James boosted their price objective on shares of Invitation Homes from $37.00 to $39.00 and gave the company an outperform rating in a research report on Thursday, March 28th. JPMorgan Chase & Co. increased their target price on shares of Invitation Homes from $35.00 to $36.00 and gave the stock a neutral rating in a report on Monday, June 17th. Mizuho reduced their price target on Invitation Homes from $37.00 to $36.00 and set a neutral rating on the stock in a report on Monday, June 3rd. Finally, Evercore ISI upgraded Invitation Homes from an in-line rating to an outperform rating and set a $37.00 price objective on the stock in a research report on Friday. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $38.44.

Invitation Homes Stock Up 2.6 %

INVH opened at $34.07 on Friday. Invitation Homes has a 12 month low of $28.49 and a 12 month high of $36.92. The company has a current ratio of 0.20, a quick ratio of 0.21 and a debt-to-equity ratio of 0.54. The business’s 50-day moving average price is $35.30 and its 200-day moving average price is $34.51. The company has a market cap of $20.87 billion, a P/E ratio of 39.16, a P/E/G ratio of 2.04 and a beta of 0.99.

Invitation Homes (NYSE:INVH) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.22). Invitation Homes had a return on equity of 4.68% and a net margin of 18.75%. The company had revenue of $646.04 million for the quarter, compared to the consensus estimate of $630.97 million. On average, equities analysts expect that Invitation Homes will post 1.83 EPS for the current year.

Invitation Homes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Thursday, June 27th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend was Thursday, June 27th. Invitation Homes’s dividend payout ratio (DPR) is presently 128.74%.

Insider Buying and Selling at Invitation Homes

In other news, 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 transaction, the chief operating officer now directly owns 275,296 shares of the company’s stock, valued at $9,594,065.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Invitation Homes news, COO Charles D. Young sold 5,000 shares of the company’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $34.85, for a total value of $174,250.00. Following the completion of the sale, the chief operating officer now owns 275,296 shares in the company, valued at $9,594,065.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Cohen Jana Barbe sold 7,200 shares of the firm’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $34.58, for a total transaction of $248,976.00. Following the sale, the director now owns 28,068 shares in the company, valued at $970,591.44. The disclosure for this sale can be found here. Company insiders own 0.28% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Cohen & Steers Inc. grew its holdings in shares of Invitation Homes by 1.3% in the fourth quarter. Cohen & Steers Inc. now owns 80,498,790 shares of the company’s stock worth $2,746,208,000 after purchasing an additional 1,008,392 shares during the last quarter. Norges Bank bought a new stake in shares of Invitation Homes in the fourth quarter valued at about $1,346,883,000. Principal Financial Group Inc. boosted 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 valued at $713,700,000 after acquiring an additional 147,050 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in Invitation Homes by 27.2% during the first quarter. Canada Pension Plan Investment Board now owns 15,686,912 shares of the company’s stock valued at $558,611,000 after purchasing an additional 3,351,424 shares in the last quarter. Finally, Centersquare Investment Management LLC grew its stake in Invitation Homes by 4.7% in the first quarter. Centersquare Investment Management LLC now owns 8,552,206 shares of the company’s stock valued at $292,485,000 after purchasing an additional 384,564 shares during the last quarter. Institutional investors 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.