Van ECK Associates Corp Acquires 29,565 Shares of Invitation Homes Inc. (NYSE:INVH)

Van ECK Associates Corp increased its holdings in Invitation Homes Inc. (NYSE:INVH) by 14.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 238,184 shares of the company’s stock after buying an additional 29,565 shares during the period. Van ECK Associates Corp’s holdings in Invitation Homes were worth $8,124,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. grew its stake in Invitation Homes by 0.7% during the third quarter. Principal Financial Group Inc. now owns 20,776,434 shares of the company’s stock worth $658,403,000 after buying an additional 138,213 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in Invitation Homes by 9.6% in the third quarter. Canada Pension Plan Investment Board now owns 12,335,488 shares of the company’s stock valued at $390,912,000 after acquiring an additional 1,080,000 shares during the last quarter. Morgan Stanley raised its position in Invitation Homes by 19.5% during the third quarter. Morgan Stanley now owns 8,993,919 shares of the company’s stock valued at $285,017,000 after purchasing an additional 1,466,330 shares in the last quarter. Northern Trust Corp lifted its stake in Invitation Homes by 2.2% during the third quarter. Northern Trust Corp now owns 7,066,681 shares of the company’s stock worth $223,943,000 after purchasing an additional 151,903 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Invitation Homes by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,922,291 shares of the company’s stock valued at $187,677,000 after purchasing an additional 20,555 shares in the last quarter. 96.79% of the stock is currently owned by institutional investors.

Invitation Homes Price Performance

Invitation Homes stock opened at $34.38 on Friday. The stock’s 50 day moving average is $34.52 and its 200 day moving average is $33.50. Invitation Homes Inc. has a one year low of $28.49 and a one year high of $36.53. The firm has a market cap of $21.06 billion, a P/E ratio of 39.52, a P/E/G ratio of 2.04 and a beta of 0.95. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.21 and a quick ratio of 0.20.

Invitation Homes (NYSE:INVH) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.23). Invitation Homes had a return on equity of 5.29% and a net margin of 21.75%. The firm had revenue of $624.32 million during the quarter, compared to analyst estimates of $623.51 million. As a group, research analysts expect that Invitation Homes Inc. will post 1.83 EPS for the current year.

Invitation Homes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.12 dividend on an annualized basis and a yield of 3.26%. Invitation Homes’s payout ratio is currently 128.74%.

Insider Transactions at Invitation Homes

In related news, CFO Jonathan S. Olsen sold 10,000 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $34.75, for a total transaction of $347,500.00. Following the sale, the chief financial officer now owns 37,037 shares in the company, valued at approximately $1,287,035.75. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.28% of the company’s stock.

Analyst Ratings Changes

INVH has been the subject of several recent analyst reports. Mizuho upped their price objective on Invitation Homes from $35.00 to $37.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Invitation Homes in a report on Tuesday, January 30th. They issued a “hold” rating and a $35.00 target price for the company. Raymond James lifted their price target on shares of Invitation Homes from $37.00 to $39.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. Keefe, Bruyette & Woods dropped their price objective on shares of Invitation Homes from $38.00 to $37.00 and set a “market perform” rating for the company in a research note on Tuesday, February 27th. Finally, BNP Paribas started coverage on shares of Invitation Homes in a research note on Monday, January 22nd. They set an “outperform” rating and a $39.00 target price on the stock. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $38.19.

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.