Zacks Investment Research downgraded shares of Invitation Homes (NYSE:INVH) from a buy rating to a hold rating in a research report released on Tuesday morning, Zacks.com reports.

According to Zacks, “Invitation Homes Inc. provides real estate services. It focuses on owning, renovating, leasing and operating single-family residential properties primarily in the United States. Invitation Homes Inc. is headquartered in Dallas, Texas. “

INVH has been the topic of several other research reports. Evercore ISI lowered Invitation Homes from an outperform rating to an in-line rating in a research note on Monday, June 10th. Royal Bank of Canada lifted their price target on Invitation Homes to $30.00 and gave the company an outperform rating in a research note on Tuesday, August 20th. B. Riley set a $30.00 price target on Invitation Homes and gave the company a buy rating in a research note on Friday, August 16th. Finally, Keefe, Bruyette & Woods lowered Invitation Homes from an outperform rating to a market perform rating and set a $28.50 price target on the stock. in a research note on Friday, July 19th. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Invitation Homes presently has an average rating of Buy and a consensus price target of $28.44.

Shares of INVH opened at $28.97 on Tuesday. Invitation Homes has a 52-week low of $19.21 and a 52-week high of $29.33. The business’s fifty day moving average is $28.26 and its 200-day moving average is $26.22. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.34 and a current ratio of 0.34. The firm has a market cap of $15.32 billion, a price-to-earnings ratio of 129.50, a PEG ratio of 3.10 and a beta of 0.39.

Invitation Homes (NYSE:INVH) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.24). Invitation Homes had a net margin of 4.91% and a return on equity of 1.42%. The business had revenue of $442.00 million during the quarter, compared to the consensus estimate of $442.81 million. During the same quarter in the previous year, the business posted $0.29 EPS. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, research analysts forecast that Invitation Homes will post 1.23 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 15th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.79%. The ex-dividend date was Wednesday, August 14th. Invitation Homes’s dividend payout ratio (DPR) is 226.09%.

In related news, major shareholder Holdings L.P. Blackstone II sold 37,500,000 shares of the firm’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $27.43, for a total transaction of $1,028,625,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Mark A. Solls sold 30,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $29.01, for a total value of $870,300.00. Following the sale, the executive vice president now directly owns 94,858 shares in the company, valued at approximately $2,751,830.58. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,561,892 shares of company stock worth $1,030,401,352. 0.25% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Metropolitan Life Insurance Co NY boosted its holdings in shares of Invitation Homes by 3.5% during the 1st quarter. Metropolitan Life Insurance Co NY now owns 23,903 shares of the company’s stock valued at $581,000 after acquiring an additional 809 shares in the last quarter. Gulf International Bank UK Ltd boosted its holdings in shares of Invitation Homes by 62.0% during the 2nd quarter. Gulf International Bank UK Ltd now owns 110,826 shares of the company’s stock valued at $2,962,000 after acquiring an additional 42,400 shares in the last quarter. Ellington Management Group LLC acquired a new stake in shares of Invitation Homes during the 2nd quarter valued at $1,272,000. Centersquare Investment Management LLC lifted its holdings in Invitation Homes by 41.3% during the 2nd quarter. Centersquare Investment Management LLC now owns 6,232,985 shares of the company’s stock worth $166,608,000 after buying an additional 1,820,464 shares during the period. Finally, Pictet Asset Management Ltd. lifted its holdings in Invitation Homes by 31.0% during the 1st quarter. Pictet Asset Management Ltd. now owns 199,666 shares of the company’s stock worth $4,858,000 after buying an additional 47,200 shares during the period.

Invitation Homes Company Profile

Invitation Homes is a leading owner and operator of single-family rental homes, 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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