Principal Financial Group Inc. Cuts Position in Invitation Homes Inc. (NYSE:INVH)

Principal Financial Group Inc. trimmed its position in Invitation Homes Inc. (NYSE:INVH) by 2.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,460,248 shares of the company’s stock after selling 591,408 shares during the quarter. Principal Financial Group Inc. owned 3.18% of Invitation Homes worth $622,141,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. State Street Corp grew its stake in shares of Invitation Homes by 0.8% in the third quarter. State Street Corp now owns 35,739,380 shares of the company’s stock valued at $1,270,062,000 after buying an additional 298,307 shares in the last quarter. FMR LLC grew its stake in shares of Invitation Homes by 4.2% in the third quarter. FMR LLC now owns 18,813,744 shares of the company’s stock valued at $663,373,000 after buying an additional 753,464 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Invitation Homes by 9.3% in the third quarter. Daiwa Securities Group Inc. now owns 11,748,855 shares of the company’s stock valued at $414,264,000 after buying an additional 997,353 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Invitation Homes by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,567,267 shares of the company’s stock valued at $231,562,000 after buying an additional 248,701 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Invitation Homes by 21.0% in the third quarter. JPMorgan Chase & Co. now owns 6,287,830 shares of the company’s stock valued at $221,709,000 after buying an additional 1,089,281 shares in the last quarter. 96.79% of the stock is currently owned by hedge funds and other institutional investors.

Invitation Homes Trading Down 1.2 %

Shares of NYSE INVH opened at $31.44 on Monday. The company has a market cap of $19.26 billion, a price-to-earnings ratio of 44.29, a price-to-earnings-growth ratio of 4.62 and a beta of 1.04. Invitation Homes Inc. has a 12-month low of $30.13 and a 12-month high of $37.80. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.54. The stock’s 50 day simple moving average is $31.63 and its 200 day simple moving average is $33.64.

Invitation Homes Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, December 26th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $1.16 annualized dividend and a yield of 3.69%. This is an increase from Invitation Homes’s previous quarterly dividend of $0.28. Invitation Homes’s payout ratio is presently 163.38%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on INVH. Royal Bank of Canada lowered their target price on Invitation Homes from $36.00 to $34.00 and set a “sector perform” rating for the company in a research note on Friday, November 1st. Keefe, Bruyette & Woods lowered their price objective on Invitation Homes from $37.00 to $35.00 and set a “market perform” rating for the company in a research note on Wednesday, November 6th. Barclays lowered their price objective on Invitation Homes from $38.00 to $36.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. Deutsche Bank Aktiengesellschaft lowered Invitation Homes from a “buy” rating to a “hold” rating and lowered their price objective for the company from $41.00 to $33.00 in a research note on Tuesday, January 21st. Finally, Jefferies Financial Group lowered Invitation Homes from a “buy” rating to a “hold” rating and lowered their price objective for the company from $39.00 to $33.00 in a research note on Thursday, January 2nd. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Invitation Homes has an average rating of “Hold” and an average price target of $37.47.

Invitation Homes Company 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.