B. Riley set a $30.00 price objective on Invitation Homes (NYSE:INVH) in a report published on Friday morning, TipRanks reports. The firm currently has a buy rating on the stock. B. Riley also issued estimates for Invitation Homes’ FY2020 earnings at $1.34 EPS.
Several other brokerages have also weighed in on INVH. Raymond James increased their price objective on Invitation Homes from $27.00 to $30.00 and gave the stock a strong-buy rating in a research report on Wednesday, May 15th. BTIG Research set a $27.00 price target on Invitation Homes and gave the stock a buy rating in a research note on Tuesday, May 14th. Zacks Investment Research upgraded Invitation Homes from a hold rating to a buy rating and set a $31.00 price target on the stock in a research note on Wednesday, June 19th. Evercore ISI cut Invitation Homes from an outperform rating to an in-line rating in a research note on Monday, June 10th. Finally, Keefe, Bruyette & Woods cut Invitation Homes from an outperform rating to a market perform rating and set a $28.50 price target on the stock. in a research note on Friday, July 19th. Three 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 stock. Invitation Homes currently has a consensus rating of Buy and a consensus price target of $28.21.
Shares of INVH stock traded up $0.26 during trading hours on Friday, reaching $28.58. The company had a trading volume of 2,490,348 shares, compared to its average volume of 3,741,722. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.34 and a current ratio of 0.34. The stock has a fifty day moving average of $27.51 and a 200-day moving average of $25.34. The company has a market capitalization of $15.20 billion, a price-to-earnings ratio of 124.26, a PEG ratio of 2.95 and a beta of 0.42. Invitation Homes has a 12-month low of $19.21 and a 12-month high of $28.64.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Thursday, August 15th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Wednesday, August 14th. Invitation Homes’s payout ratio is currently 226.09%.
In other news, major shareholder Holdings L.P. Blackstone II sold 37,500,000 shares of the stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $27.43, for a total value of $1,028,625,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Brep Ih6 Holdings Llc sold 40,000,000 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $25.21, for a total value of $1,008,400,000.00. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Invitation Homes by 27.6% during the second quarter. Vanguard Group Inc. now owns 62,328,263 shares of the company’s stock worth $1,666,034,000 after purchasing an additional 13,491,691 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Invitation Homes by 13.5% during the second quarter. BlackRock Inc. now owns 32,366,010 shares of the company’s stock worth $865,142,000 after purchasing an additional 3,837,192 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Invitation Homes by 1,373.2% during the second quarter. Bank of America Corp DE now owns 23,768,299 shares of the company’s stock worth $635,327,000 after purchasing an additional 22,154,878 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Invitation Homes by 13.5% during the first quarter. Principal Financial Group Inc. now owns 23,416,592 shares of the company’s stock worth $569,726,000 after purchasing an additional 2,783,568 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings in shares of Invitation Homes by 19.5% during the first quarter. Daiwa Securities Group Inc. now owns 13,349,812 shares of the company’s stock worth $324,801,000 after purchasing an additional 2,174,523 shares during the last quarter.
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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