Summit Global Investments Buys New Shares in Invitation Homes $INVH

Summit Global Investments purchased a new position in shares of Invitation Homes (NYSE:INVH) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 32,777 shares of the company’s stock, valued at approximately $863,000.

Several other hedge funds also recently made changes to their positions in INVH. BlackRock Inc. bought a new stake in shares of Invitation Homes in the second quarter worth $1,866,973,000. Deutsche Bank AG acquired a new stake in Invitation Homes in the 2nd quarter valued at $193,539,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Invitation Homes by 74,699.5% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,971,242 shares of the company’s stock valued at $180,391,000 after buying an additional 5,963,259 shares during the last quarter. Legal & General Group Plc acquired a new stake in Invitation Homes in the 2nd quarter valued at $140,427,000. Finally, Rush Island Management LP bought a new stake in Invitation Homes during the 1st quarter worth about $105,292,000. 96.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on INVH shares. Barclays cut their price target on shares of Invitation Homes from $36.00 to $35.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 14th. Mizuho upgraded Invitation Homes from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $31.00 to $32.00 in a report on Monday, September 21st. Scotiabank decreased their price objective on Invitation Homes from $30.00 to $28.00 and set a “sector perform” rating for the company in a report on Thursday, September 17th. Wells Fargo & Company lowered their target price on Invitation Homes from $33.00 to $30.00 and set an “overweight” rating on the stock in a research report on Monday, October 19th. Finally, BTIG Research set a $32.00 target price on Invitation Homes in a report on Monday, September 21st. Eleven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $32.00.

Invitation Homes Trading Up 1.2%

NYSE INVH opened at $26.87 on Tuesday. The company has a market cap of $15.87 billion, a PE ratio of 13.72, a PEG ratio of 3.98 and a beta of 0.82. The company has a current ratio of 0.02, a quick ratio of 0.02 and a debt-to-equity ratio of 0.44. Invitation Homes has a 12 month low of $24.25 and a 12 month high of $30.89. The stock has a 50 day moving average of $27.39 and a 200-day moving average of $27.79.

Invitation Homes (NYSE:INVH) last released its earnings results on Wednesday, October 28th. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.09. The business had revenue of $731.28 million during the quarter, compared to analysts’ expectations of $742.55 million. Invitation Homes had a net margin of 23.54% and a return on equity of 7.54%. The firm’s revenue was up 6.3% on a year-over-year basis. During the same period last year, the business earned $0.47 earnings per share. On average, equities research analysts anticipate that Invitation Homes will post 1.90 EPS for the current fiscal year.

Invitation Homes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Thursday, September 24th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend was Thursday, September 24th. Invitation Homes’s dividend payout ratio (DPR) is 105.26%.

About Invitation Homes

Invitation Homes Inc (NYSE: INVH) is a real estate investment trust that owns, leases and operates single-family homes in the United States. The company provides professionally managed rental housing for individuals and families, with properties generally located in suburban communities and metropolitan areas.

The company’s services include home leasing, property management, resident support, maintenance and renovations. Invitation Homes uses technology and centralized operating systems to market homes, manage lease agreements, collect rent and coordinate property care.