First Trust Advisors LP Takes $1.10 Million Position in Invitation Homes Inc (INVH)
First Trust Advisors LP bought a new stake in shares of Invitation Homes Inc (NYSE:INVH) during the 2nd quarter, according to its most recent filing with the SEC. The firm bought 47,635 shares of the company’s stock, valued at approximately $1,098,000.
Several other large investors also recently made changes to their positions in INVH. Russell Investments Group Ltd. raised its holdings in shares of Invitation Homes by 63.2% during the 1st quarter. Russell Investments Group Ltd. now owns 2,887,116 shares of the company’s stock valued at $65,837,000 after buying an additional 1,117,513 shares during the period. Principal Financial Group Inc. grew its stake in Invitation Homes by 5.2% during the 1st quarter. Principal Financial Group Inc. now owns 22,203,550 shares of the company’s stock valued at $506,907,000 after purchasing an additional 1,099,007 shares in the last quarter. Uniplan Investment Counsel Inc. grew its stake in Invitation Homes by 101.4% during the 1st quarter. Uniplan Investment Counsel Inc. now owns 1,961,497 shares of the company’s stock valued at $44,590,000 after purchasing an additional 987,378 shares in the last quarter. Legal & General Group Plc grew its stake in Invitation Homes by 89.2% during the 1st quarter. Legal & General Group Plc now owns 1,818,513 shares of the company’s stock valued at $41,517,000 after purchasing an additional 857,446 shares in the last quarter. Finally, BlackRock Inc. grew its stake in Invitation Homes by 3.3% during the 1st quarter. BlackRock Inc. now owns 22,691,786 shares of the company’s stock valued at $518,054,000 after purchasing an additional 725,450 shares in the last quarter.
A number of equities research analysts have weighed in on INVH shares. Zacks Investment Research lowered Invitation Homes from a “buy” rating to a “hold” rating in a research note on Thursday, May 31st. Morgan Stanley lowered their price objective on Invitation Homes from $27.00 to $24.50 and set an “overweight” rating for the company in a research note on Thursday, June 14th. TheStreet lowered Invitation Homes from a “c-” rating to a “d+” rating in a research note on Wednesday, June 13th. Finally, Raymond James raised their price objective on Invitation Homes from $26.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, August 21st. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $25.77.
Invitation Homes (NYSE:INVH) last issued its earnings results on Thursday, August 9th. The company reported $0.29 EPS for the quarter, hitting the consensus estimate of $0.29. The company had revenue of $432.00 million during the quarter, compared to analyst estimates of $431.24 million. Invitation Homes had a negative return on equity of 0.98% and a negative net margin of 6.99%. The business’s revenue was up 78.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.25 EPS. equities analysts expect that Invitation Homes Inc will post 1.18 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 31st. Stockholders of record on Thursday, August 16th were given a $0.11 dividend. The ex-dividend date of this dividend was Wednesday, August 15th. This represents a $0.44 annualized dividend and a dividend yield of 1.86%. Invitation Homes’s payout ratio is 169.23%.
In other news, Director Barry S. Sternlicht sold 1,309,849 shares of Invitation Homes stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $23.55, for a total value of $30,846,943.95. Following the completion of the transaction, the director now owns 5,482 shares in the company, valued at approximately $129,101.10. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.50% of the stock is currently owned by company insiders.
Invitation Homes Company Profile
Invitation Homes is a leading owner and operator of single-family homes for lease, offering residents high-quality homes across America. With over 80,000 homes for lease in 17 markets across the country, Invitation Homes is meeting changing lifestyle demands by providing residents access to updated homes with features they value, such as close proximity to jobs and access to good schools.
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