Kentucky Retirement Systems Sells 2,340 Shares of Invitation Homes Inc. (NYSE:INVH)

Kentucky Retirement Systems lessened its stake in shares of Invitation Homes Inc. (NYSE:INVH) by 5.1% in the 1st quarter, HoldingsChannel.com reports. The fund owned 43,685 shares of the company’s stock after selling 2,340 shares during the period. Kentucky Retirement Systems’ holdings in Invitation Homes were worth $1,556,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of INVH. BOK Financial Private Wealth Inc. bought a new position in Invitation Homes in the first quarter worth approximately $26,000. Creekmur Asset Management LLC acquired a new position in Invitation Homes during the fourth quarter valued at $46,000. Livforsakringsbolaget Skandia Omsesidigt lifted its position in Invitation Homes by 96.5% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,161 shares of the company’s stock valued at $74,000 after purchasing an additional 1,061 shares during the period. Mather Group LLC. acquired a new position in Invitation Homes during the first quarter valued at $75,000. Finally, Bessemer Group Inc. raised its position in shares of Invitation Homes by 55.2% in the first quarter. Bessemer Group Inc. now owns 2,296 shares of the company’s stock worth $83,000 after acquiring an additional 817 shares during the period. Institutional investors own 96.79% of the company’s stock.

Invitation Homes Stock Up 2.6 %

Shares of NYSE INVH traded up $0.87 during mid-day trading on Friday, reaching $34.07. The company had a trading volume of 7,097,638 shares, compared to its average volume of 3,737,952. 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 firm has a 50 day simple moving average of $35.30 and a two-hundred day simple moving average of $34.51. The stock has a market cap of $20.87 billion, a P/E ratio of 39.16, a PEG ratio of 2.10 and a beta of 0.99. Invitation Homes Inc. has a 52-week low of $28.49 and a 52-week high of $36.92.

Invitation Homes (NYSE:INVH) last posted its earnings results on Tuesday, April 30th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.22). The company had revenue of $646.04 million during the quarter, compared to analysts’ expectations of $630.97 million. Invitation Homes had a net margin of 18.75% and a return on equity of 4.68%. Sell-side analysts predict that Invitation Homes Inc. will post 1.83 earnings per share for the current year.

Invitation Homes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Thursday, June 27th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 3.29%. The ex-dividend date was Thursday, June 27th. Invitation Homes’s payout ratio is currently 128.74%.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on INVH. Royal Bank of Canada decreased their price objective on shares of Invitation Homes from $39.00 to $37.00 and set an “outperform” rating for the company in a research report on Friday. JPMorgan Chase & Co. increased their price target on shares of Invitation Homes from $35.00 to $36.00 and gave the company a “neutral” rating in a research note on Monday, June 17th. Barclays dropped their price target on shares of Invitation Homes from $41.00 to $40.00 and set an “overweight” rating for the company in a research note on Wednesday, May 29th. Mizuho lowered 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. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $38.00 target price on shares of Invitation Homes in a report on Monday, June 17th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $38.44.

Invitation Homes 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.