Principal Financial Group Inc. Sells 774,772 Shares of Invitation Home $INVH

Principal Financial Group Inc. lessened its stake in Invitation Home (NYSE:INVH) by 4.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 17,446,124 shares of the company’s stock after selling 774,772 shares during the quarter. Principal Financial Group Inc.’s holdings in Invitation Home were worth $511,695,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Invitation Home by 0.8% in the second quarter. Vanguard Group Inc. now owns 95,026,266 shares of the company’s stock valued at $3,116,862,000 after acquiring an additional 719,365 shares during the last quarter. Norges Bank purchased a new position in shares of Invitation Home in the 2nd quarter worth about $1,693,992,000. State Street Corp increased its position in shares of Invitation Home by 1.3% during the 2nd quarter. State Street Corp now owns 36,159,024 shares of the company’s stock valued at $1,196,334,000 after purchasing an additional 460,747 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Invitation Home by 2.0% during the 2nd quarter. Geode Capital Management LLC now owns 15,855,732 shares of the company’s stock valued at $518,018,000 after buying an additional 309,953 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in Invitation Home by 4.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 13,319,490 shares of the company’s stock worth $436,880,000 after buying an additional 514,100 shares during the last quarter. Hedge funds and other institutional investors own 96.79% of the company’s stock.

Analyst Upgrades and Downgrades

INVH has been the subject of several research reports. Barclays reaffirmed an “overweight” rating and issued a $33.00 target price on shares of Invitation Home in a research note on Tuesday, January 13th. Royal Bank Of Canada decreased their target price on shares of Invitation Home from $33.00 to $32.00 and set a “sector perform” rating on the stock in a research report on Friday, October 31st. Bank of America cut their price target on shares of Invitation Home from $37.00 to $36.00 and set a “neutral” rating for the company in a research report on Wednesday, November 12th. JPMorgan Chase & Co. decreased their price objective on Invitation Home from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Tuesday, November 18th. Finally, Evercore ISI lowered their target price on Invitation Home from $34.00 to $33.00 and set an “outperform” rating for the company in a research note on Friday, October 31st. Eight equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, Invitation Home presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.70.

Invitation Home Price Performance

Shares of NYSE INVH opened at $26.71 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.03 and a quick ratio of 0.03. Invitation Home has a 1 year low of $25.29 and a 1 year high of $35.80. The company’s 50-day moving average is $27.20 and its 200 day moving average is $28.79. The stock has a market capitalization of $16.37 billion, a P/E ratio of 28.12, a P/E/G ratio of 2.87 and a beta of 0.83.

Invitation Home (NYSE:INVH) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $0.47 EPS for the quarter, meeting the consensus estimate of $0.47. Invitation Home had a return on equity of 6.03% and a net margin of 21.70%.The business had revenue of $688.17 million during the quarter, compared to analyst estimates of $679.41 million. During the same quarter last year, the firm posted $0.47 earnings per share. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, sell-side analysts expect that Invitation Home will post 1.83 earnings per share for the current year.

Invitation Home Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Tuesday, December 23rd were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date was Tuesday, December 23rd. This is a positive change from Invitation Home’s previous quarterly dividend of $0.29. Invitation Home’s dividend payout ratio (DPR) is presently 126.32%.

Invitation Home Company 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.