Renaissance Technologies LLC reduced its stake in Invitation Home (NYSE:INVH – Free Report) by 19.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,118,383 shares of the company’s stock after selling 264,700 shares during the period. Renaissance Technologies LLC owned approximately 0.19% of Invitation Home worth $27,792,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of INVH. AQR Capital Management LLC raised its position in shares of Invitation Home by 67.4% in the 1st quarter. AQR Capital Management LLC now owns 74,426 shares of the company’s stock worth $2,589,000 after purchasing an additional 29,962 shares during the last quarter. Empowered Funds LLC grew its position in Invitation Home by 10.7% during the 1st quarter. Empowered Funds LLC now owns 13,324 shares of the company’s stock valued at $464,000 after purchasing an additional 1,290 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in Invitation Home during the 2nd quarter valued at about $287,000. Cetera Investment Advisers increased its stake in Invitation Home by 8.5% during the 2nd quarter. Cetera Investment Advisers now owns 19,412 shares of the company’s stock valued at $637,000 after purchasing an additional 1,528 shares in the last quarter. Finally, Cresset Asset Management LLC increased its stake in Invitation Home by 5.5% during the 2nd quarter. Cresset Asset Management LLC now owns 15,646 shares of the company’s stock valued at $515,000 after purchasing an additional 809 shares in the last quarter. 96.79% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
INVH has been the subject of several recent analyst reports. Barclays lifted their target price on shares of Invitation Home from $32.00 to $36.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Cfra downgraded shares of Invitation Home from a “hold” rating to a “sell” rating and reduced their price target for the company from $29.00 to $27.00 in a research report on Wednesday, May 27th. Mizuho raised their price target on shares of Invitation Home from $26.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, June 17th. Raymond James Financial upgraded shares of Invitation Home from a “market perform” rating to an “outperform” rating and set a $32.00 price objective for the company in a report on Monday, May 18th. Finally, Jefferies Financial Group raised Invitation Home to a “hold” rating in a research report on Wednesday, July 22nd. Ten equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $32.47.
Invitation Home Price Performance
NYSE INVH opened at $30.08 on Wednesday. Invitation Home has a one year low of $24.25 and a one year high of $32.04. The stock has a 50-day moving average of $29.59 and a 200 day moving average of $27.61. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.02 and a current ratio of 0.02. The company has a market capitalization of $17.87 billion, a price-to-earnings ratio of 31.66, a PEG ratio of 3.47 and a beta of 0.84.
Invitation Home (NYSE:INVH – Get Free Report) last posted its earnings results on Wednesday, April 29th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.08. The business had revenue of $579.00 million for the quarter, compared to analysts’ expectations of $689.91 million. Invitation Home had a net margin of 20.88% and a return on equity of 6.29%. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.48 EPS. On average, sell-side analysts forecast that Invitation Home will post 1.89 EPS for the current year.
Invitation Home Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Thursday, June 25th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Thursday, June 25th. Invitation Home’s payout ratio is presently 126.32%.
Invitation Home Profile
Invitation Homes (NYSE: INVH) is a real estate investment trust that specializes in the ownership, operation and leasing of single-family rental homes across the United States. The company focuses on acquiring suburban and urban-adjacent single-family residences and managing them as rental properties for households seeking professionally managed, long-term housing alternatives to traditional homeownership or multifamily rentals.
Operationally, Invitation Homes is involved in the full lifecycle of the single-family rental business: sourcing and acquiring homes, performing renovations and ongoing maintenance, marketing and leasing properties, and providing property management and resident services.
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