Invitation Homes (NYSE:INVH) Shares Gap Down After Earnings Miss

Invitation Homes Inc. (NYSE:INVH) gapped down prior to trading on Thursday following a dissappointing earnings announcement. The stock had previously closed at $35.97, but opened at $33.49. Invitation Homes shares last traded at $34.12, with a volume of 834,870 shares traded.

The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.34). The firm had revenue of $653.45 million during the quarter, compared to analysts’ expectations of $654.70 million. Invitation Homes had a net margin of 21.75% and a return on equity of 5.29%.

Invitation Homes Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Thursday, June 27th were paid a $0.28 dividend. The ex-dividend date was Thursday, June 27th. This represents a $1.12 annualized dividend and a yield of 3.28%. Invitation Homes’s payout ratio is currently 128.74%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Mizuho decreased their price objective on Invitation Homes from $37.00 to $36.00 and set a “neutral” rating on the stock in a report on Monday, June 3rd. Evercore ISI increased their target price on Invitation Homes from $36.00 to $37.00 and gave the stock an “in-line” rating in a research report on Tuesday, July 9th. Scotiabank lifted their price target on 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 increased their price objective on shares of Invitation Homes from $37.00 to $39.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Finally, Barclays lowered their target price 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. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $38.39.

Insider Transactions at Invitation Homes

In related news, COO Charles D. Young sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $34.85, for a total transaction of $174,250.00. Following the sale, the chief operating officer now directly owns 275,296 shares in the company, valued at approximately $9,594,065.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Cohen Jana Barbe sold 7,200 shares of the business’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 transaction, the director now directly owns 28,068 shares of the company’s stock, valued at $970,591.44. The transaction was disclosed in a filing with the SEC, which is available at 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 shares were 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 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 hedge funds and other institutional investors have recently added to or reduced their stakes in INVH. Norges Bank acquired a new stake in shares of Invitation Homes during the fourth quarter valued at about $1,346,883,000. Canada Pension Plan Investment Board boosted its holdings in Invitation Homes by 27.2% in 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 during the last quarter. Boston Partners purchased a new position in Invitation Homes in the fourth quarter valued at about $105,282,000. Goldman Sachs Group Inc. grew its stake in Invitation Homes by 66.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 5,424,752 shares of the company’s stock valued at $185,038,000 after purchasing an additional 2,169,522 shares in the last quarter. Finally, First Financial Bankshares Inc purchased a new stake in Invitation Homes during the 4th quarter worth approximately $45,104,000. Hedge funds and other institutional investors own 96.79% of the company’s stock.

Invitation Homes Stock Performance

The company has a market capitalization of $20.90 billion, a price-to-earnings ratio of 41.34, a price-to-earnings-growth ratio of 2.24 and a beta of 0.99. 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 50-day simple moving average of $35.37 and a 200-day simple moving average of $34.52.

Invitation Homes Company Profile

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.