Invitation Homes (NYSE:INVH) Shares Gap Down to $36.50

Invitation Homes Inc. (NYSE:INVH)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $36.50, but opened at $35.38. Invitation Homes shares last traded at $36.00, with a volume of 400,935 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Scotiabank reduced their target price on shares of Invitation Homes from $38.00 to $37.00 and set a “sector perform” rating for the company in a research note on Tuesday, September 10th. The Goldman Sachs Group assumed coverage on shares of Invitation Homes in a report on Wednesday, September 4th. They issued a “buy” rating and a $46.00 price target for the company. Barclays decreased their price target on Invitation Homes from $41.00 to $40.00 and set an “overweight” rating for the company in a research note on Wednesday, May 29th. Bank of America cut Invitation Homes from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a report on Tuesday. Finally, Mizuho decreased their price target on Invitation Homes from $37.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday, June 3rd. Eight equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $39.00.

Invitation Homes Trading Down 1.7 %

The company has a market cap of $21.97 billion, a price-to-earnings ratio of 41.40, a P/E/G ratio of 4.50 and a beta of 1.01. The business has a fifty day simple moving average of $35.84 and a 200 day simple moving average of $35.25. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.54.

Invitation Homes (NYSE:INVH) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.34). Invitation Homes had a return on equity of 4.68% and a net margin of 18.75%. The firm had revenue of $653.45 million for the quarter, compared to analyst estimates of $654.70 million. On average, equities analysts anticipate that Invitation Homes Inc. will post 1.83 EPS for the current fiscal year.

Invitation Homes Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, September 26th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 3.12%. The ex-dividend date is Thursday, September 26th. Invitation Homes’s payout ratio is currently 128.74%.

Hedge Funds Weigh In On Invitation Homes

Hedge funds have recently added to or reduced their stakes in the company. Cohen & Steers Inc. raised its holdings in shares of Invitation Homes by 1.3% in the 4th quarter. Cohen & Steers Inc. now owns 80,498,790 shares of the company’s stock worth $2,746,208,000 after buying an additional 1,008,392 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of Invitation Homes by 0.8% in the second quarter. Canada Pension Plan Investment Board now owns 15,814,912 shares of the company’s stock valued at $567,597,000 after purchasing an additional 128,000 shares during the period. Dimensional Fund Advisors LP increased its position in Invitation Homes by 2.0% during the second quarter. Dimensional Fund Advisors LP now owns 8,795,707 shares of the company’s stock worth $315,671,000 after acquiring an additional 170,374 shares during the period. Centersquare Investment Management LLC lifted its holdings in shares of Invitation Homes by 4.7% during the 1st quarter. Centersquare Investment Management LLC now owns 8,552,206 shares of the company’s stock worth $292,485,000 after acquiring an additional 384,564 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Invitation Homes by 66.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 5,424,752 shares of the company’s stock valued at $185,038,000 after purchasing an additional 2,169,522 shares during the last quarter. Institutional investors and hedge funds own 96.79% of the company’s stock.

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.