abrdn plc Purchases 46,223 Shares of Invitation Homes Inc. (NYSE:INVH)

abrdn plc raised its holdings in shares of Invitation Homes Inc. (NYSE:INVH) by 14.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 368,264 shares of the company’s stock after buying an additional 46,223 shares during the quarter. abrdn plc’s holdings in Invitation Homes were worth $11,740,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in INVH. Paladin Wealth LLC purchased a new position in Invitation Homes in the third quarter worth about $40,000. Assetmark Inc. boosted its stake in shares of Invitation Homes by 1,664.9% during the 3rd quarter. Assetmark Inc. now owns 1,306 shares of the company’s stock worth $46,000 after purchasing an additional 1,232 shares during the period. Brooklyn Investment Group bought a new position in Invitation Homes during the 3rd quarter valued at about $49,000. Huntington National Bank lifted its stake in Invitation Homes by 53.2% in the third quarter. Huntington National Bank now owns 2,014 shares of the company’s stock worth $71,000 after purchasing an additional 699 shares during the last quarter. Finally, Intact Investment Management Inc. bought a new stake in Invitation Homes in the third quarter worth about $74,000. 96.79% of the stock is owned by hedge funds and other institutional investors.

Invitation Homes Stock Performance

INVH stock opened at $31.61 on Friday. Invitation Homes Inc. has a one year low of $30.13 and a one year high of $37.80. The firm has a market cap of $19.36 billion, a price-to-earnings ratio of 44.52, a PEG ratio of 4.55 and a beta of 1.04. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.24 and a current ratio of 0.24. The firm has a 50-day simple moving average of $31.89 and a two-hundred day simple moving average of $33.81.

Invitation Homes Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, December 26th were given a dividend of $0.29 per share. This is a boost from Invitation Homes’s previous quarterly dividend of $0.28. The ex-dividend date was Thursday, December 26th. This represents a $1.16 dividend on an annualized basis and a yield of 3.67%. Invitation Homes’s dividend payout ratio is presently 163.38%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on INVH shares. Keefe, Bruyette & Woods reduced their price target on Invitation Homes from $37.00 to $35.00 and set a “market perform” rating on the stock in a report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft downgraded Invitation Homes from a “buy” rating to a “hold” rating and decreased their target price for the stock from $41.00 to $33.00 in a research report on Tuesday, January 21st. Royal Bank of Canada reduced their price target on shares of Invitation Homes from $36.00 to $34.00 and set a “sector perform” rating on the stock in a research note on Friday, November 1st. JMP Securities reiterated a “market outperform” rating and set a $40.00 price objective on shares of Invitation Homes in a report on Thursday, December 12th. Finally, Morgan Stanley downgraded shares of Invitation Homes from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $39.00 to $35.00 in a research note on Friday, January 24th. Eleven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus 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.