Invitation Homes (NYSE:INVH) Downgraded by Zacks Investment Research to Hold

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Zacks Investment Research downgraded shares of Invitation Homes (NYSE:INVH) from a buy rating to a hold rating in a research note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “Invitation Homes Inc. provides real estate services. It focuses on owning, renovating, leasing and operating single-family residential properties primarily in the United States. Invitation Homes Inc. is headquartered in Dallas, Texas. “

Other analysts have also issued reports about the company. B. Riley set a $30.00 price objective on Invitation Homes and gave the stock a buy rating in a report on Friday, August 16th. Evercore ISI lowered Invitation Homes from an outperform rating to an in-line rating in a report on Monday, June 10th. Royal Bank of Canada boosted their price objective on Invitation Homes to $30.00 and gave the stock an outperform rating in a report on Tuesday, August 20th. Finally, Keefe, Bruyette & Woods lowered Invitation Homes from an outperform rating to a market perform rating and set a $28.50 price objective for the company. in a report on Friday, July 19th. Four analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Invitation Homes presently has a consensus rating of Buy and a consensus target price of $28.44.

Shares of Invitation Homes stock opened at $28.97 on Tuesday. Invitation Homes has a one year low of $19.21 and a one year high of $29.33. The firm has a market capitalization of $15.32 billion, a price-to-earnings ratio of 129.50, a PEG ratio of 3.10 and a beta of 0.39. The business has a 50-day simple moving average of $28.26 and a 200 day simple moving average of $26.22. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.34 and a quick ratio of 0.34.

Invitation Homes (NYSE:INVH) last issued its earnings results on Tuesday, July 30th. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.24). Invitation Homes had a net margin of 4.91% and a return on equity of 1.42%. The firm had revenue of $442.00 million during the quarter, compared to the consensus estimate of $442.81 million. During the same period in the previous year, the firm earned $0.29 earnings per share. The business’s quarterly revenue was up 2.3% on a year-over-year basis. On average, sell-side analysts expect that Invitation Homes will post 1.23 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 15th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date was Wednesday, August 14th. Invitation Homes’s dividend payout ratio is currently 226.09%.

In other news, EVP Mark A. Solls sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $29.01, for a total value of $870,300.00. Following the transaction, the executive vice president now owns 94,858 shares in the company, valued at approximately $2,751,830.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Ernest Michael Freedman sold 31,892 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $28.41, for a total value of $906,051.72. Following the completion of the transaction, the chief financial officer now owns 342,786 shares in the company, valued at approximately $9,738,550.26. The disclosure for this sale can be found here. Insiders have sold a total of 37,561,892 shares of company stock valued at $1,030,401,352 over the last three months. Corporate insiders own 0.25% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Invitation Homes by 194.6% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 224,247 shares of the company’s stock worth $5,994,000 after buying an additional 148,127 shares during the last quarter. Toronto Dominion Bank boosted its stake in shares of Invitation Homes by 13.5% in the 2nd quarter. Toronto Dominion Bank now owns 69,548 shares of the company’s stock worth $1,859,000 after buying an additional 8,271 shares during the last quarter. Treasurer of the State of North Carolina boosted its stake in shares of Invitation Homes by 23.1% in the 2nd quarter. Treasurer of the State of North Carolina now owns 213,279 shares of the company’s stock worth $5,701,000 after buying an additional 40,030 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Invitation Homes by 13.5% in the 2nd quarter. BlackRock Inc. now owns 32,366,010 shares of the company’s stock worth $865,142,000 after buying an additional 3,837,192 shares during the last quarter. Finally, NewSquare Capital LLC purchased a new position in shares of Invitation Homes in the 2nd quarter worth approximately $424,000.

About Invitation Homes

Invitation Homes is a leading owner and operator of single-family rental homes, offering residents high-quality homes across America. With over 80,000 homes for lease in 17 markets across the country, Invitation Homes is meeting changing lifestyle demands by providing residents access to updated homes with features they value, such as close proximity to jobs and access to good schools.

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