Invitation Homes Inc. (NYSE:INVH) Shares Sold by Westpac Banking Corp

Westpac Banking Corp reduced its holdings in Invitation Homes Inc. (NYSE:INVH) by 14.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 141,044 shares of the company’s stock after selling 23,115 shares during the quarter. Westpac Banking Corp’s holdings in Invitation Homes were worth $4,509,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in INVH. Norges Bank bought a new stake in shares of Invitation Homes during the 4th quarter worth about $1,646,794,000. JPMorgan Chase & Co. raised its holdings in Invitation Homes by 74.1% during the fourth quarter. JPMorgan Chase & Co. now owns 10,949,043 shares of the company’s stock worth $350,041,000 after purchasing an additional 4,661,213 shares in the last quarter. National Bank of Canada FI lifted its position in Invitation Homes by 214.5% in the third quarter. National Bank of Canada FI now owns 1,144,693 shares of the company’s stock worth $40,362,000 after purchasing an additional 780,760 shares during the period. American Century Companies Inc. boosted its stake in Invitation Homes by 46.8% during the 4th quarter. American Century Companies Inc. now owns 1,242,939 shares of the company’s stock valued at $39,737,000 after purchasing an additional 396,319 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Invitation Homes by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 15,059,390 shares of the company’s stock valued at $480,276,000 after purchasing an additional 365,954 shares during the period. Institutional investors own 96.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on INVH. Mizuho upgraded Invitation Homes from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $33.00 to $36.00 in a report on Thursday, March 13th. Jefferies Financial Group downgraded shares of Invitation Homes from a “buy” rating to a “hold” rating and cut their price target for the company from $39.00 to $33.00 in a report on Thursday, January 2nd. Morgan Stanley cut shares of Invitation Homes from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $39.00 to $35.00 in a research note on Friday, January 24th. Deutsche Bank Aktiengesellschaft lowered shares of Invitation Homes from a “buy” rating to a “hold” rating and cut their target price for the company from $41.00 to $33.00 in a research note on Tuesday, January 21st. Finally, Barclays restated an “overweight” rating and issued a $37.00 price target (up previously from $36.00) on shares of Invitation Homes in a research report on Wednesday, March 12th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $37.47.

Invitation Homes Price Performance

INVH opened at $34.71 on Thursday. The firm has a market capitalization of $21.27 billion, a P/E ratio of 48.89, a PEG ratio of 4.70 and a beta of 0.86. The stock has a fifty day moving average of $32.73 and a 200-day moving average of $33.09. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.54. Invitation Homes Inc. has a 12-month low of $30.13 and a 12-month high of $37.80.

Invitation Homes (NYSE:INVH) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $0.47 earnings per share for the quarter, meeting the consensus estimate of $0.47. Invitation Homes had a return on equity of 4.36% and a net margin of 17.02%. The firm had revenue of $659.13 million for the quarter, compared to analyst estimates of $658.71 million. Equities analysts forecast that Invitation Homes Inc. will post 1.83 EPS for the current fiscal year.

Invitation Homes Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 17th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date is Thursday, March 27th. Invitation Homes’s dividend payout ratio (DPR) is 158.90%.

About Invitation Homes

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.