First Trust Advisors LP boosted its position in shares of Invitation Homes Inc. (NYSE:INVH – Get Rating) by 7.4% in the third quarter, HoldingsChannel.com reports. The fund owned 225,053 shares of the company’s stock after purchasing an additional 15,567 shares during the period. First Trust Advisors LP’s holdings in Invitation Homes were worth $7,600,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Allspring Global Investments Holdings LLC increased its stake in Invitation Homes by 40.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 131,614 shares of the company’s stock valued at $4,444,000 after purchasing an additional 37,595 shares during the last quarter. Credit Suisse AG increased its position in Invitation Homes by 2.8% in the 3rd quarter. Credit Suisse AG now owns 805,602 shares of the company’s stock valued at $27,206,000 after acquiring an additional 21,807 shares during the period. Aviva PLC increased its position in shares of Invitation Homes by 2.4% during the 3rd quarter. Aviva PLC now owns 532,576 shares of the company’s stock valued at $17,985,000 after purchasing an additional 12,652 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in shares of Invitation Homes by 0.5% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 681,886 shares of the company’s stock worth $23,027,000 after acquiring an additional 3,528 shares during the last quarter. Finally, Toronto Dominion Bank boosted its position in shares of Invitation Homes by 59.6% in the third quarter. Toronto Dominion Bank now owns 318,465 shares of the company’s stock worth $10,751,000 after buying an additional 118,927 shares during the period. Hedge funds and other institutional investors own 98.43% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms have recently commented on INVH. Mizuho dropped their price objective on Invitation Homes from $39.00 to $36.00 in a research note on Friday, December 2nd. Raymond James lowered shares of Invitation Homes from a “strong-buy” rating to an “outperform” rating and reduced their target price for the stock from $44.00 to $35.00 in a research note on Tuesday, November 29th. Morgan Stanley cut their target price on shares of Invitation Homes from $45.00 to $35.00 and set an “overweight” rating for the company in a research note on Monday, December 12th. KeyCorp lowered their target price on shares of Invitation Homes from $41.00 to $35.00 and set an “overweight” rating on the stock in a report on Wednesday, December 7th. Finally, Barclays cut their price target on shares of Invitation Homes from $41.00 to $39.00 and set an “overweight” rating on the stock in a report on Tuesday, December 13th. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $35.75.
Invitation Homes Stock Up 2.9 %
Invitation Homes (NYSE:INVH – Get Rating) last issued its quarterly earnings data on Wednesday, February 15th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.25). The business had revenue of $579.84 million for the quarter, compared to analyst estimates of $566.68 million. Invitation Homes had a return on equity of 3.89% and a net margin of 17.10%. Sell-side analysts expect that Invitation Homes Inc. will post 1.75 EPS for the current year.
Invitation Homes Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, February 28th. Shareholders of record on Tuesday, February 14th were given a $0.26 dividend. This is an increase from Invitation Homes’s previous quarterly dividend of $0.22. This represents a $1.04 annualized dividend and a yield of 3.34%. The ex-dividend date was Monday, February 13th. Invitation Homes’s payout ratio is currently 167.74%.
Invitation Homes Profile
Invitation Homes, Inc engages in the acquisition, renovation, leasing, and operation of single-family homes as rental properties, including single-family homes in planned unit developments. Its services include property management, selection of homes, maintenance program, and online payment. The company was founded by Marcus Ridgway, Dallas Tanner, and Brad Greiwe in 2012 and is headquartered in Dallas, TX.
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