BlackRock Inc. raised its position in shares of Invitation Homes Inc (NYSE:INVH) by 13.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,366,010 shares of the company’s stock after buying an additional 3,837,192 shares during the quarter. BlackRock Inc. owned 6.02% of Invitation Homes worth $865,142,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Gulf International Bank UK Ltd increased its holdings in shares of Invitation Homes by 62.0% in the 2nd quarter. Gulf International Bank UK Ltd now owns 110,826 shares of the company’s stock valued at $2,962,000 after purchasing an additional 42,400 shares during the period. Ellington Management Group LLC acquired a new position in shares of Invitation Homes in the 2nd quarter valued at about $1,272,000. Bamco Inc. NY increased its holdings in shares of Invitation Homes by 31.9% in the 2nd quarter. Bamco Inc. NY now owns 404,162 shares of the company’s stock valued at $10,803,000 after purchasing an additional 97,674 shares during the period. Centersquare Investment Management LLC increased its holdings in shares of Invitation Homes by 41.3% in the 2nd quarter. Centersquare Investment Management LLC now owns 6,232,985 shares of the company’s stock valued at $166,608,000 after purchasing an additional 1,820,464 shares during the period. Finally, Heitman Real Estate Securities LLC increased its holdings in shares of Invitation Homes by 0.3% in the 2nd quarter. Heitman Real Estate Securities LLC now owns 2,684,044 shares of the company’s stock valued at $71,744,000 after purchasing an additional 8,393 shares during the period.
In other Invitation Homes news, Director Barry S. Sternlicht sold 463,048 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $30.44, for a total transaction of $14,095,181.12. Following the transaction, the director now owns 11,187 shares in the company, valued at $340,532.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Real Estate Partner Blackstone sold 44,000,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $28.18, for a total value of $1,239,920,000.00. The disclosure for this sale can be found here. Insiders sold 44,649,323 shares of company stock worth $1,259,523,023 in the last 90 days. 0.25% of the stock is currently owned by corporate insiders.
Invitation Homes (NYSE:INVH) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.24). Invitation Homes had a return on equity of 1.83% and a net margin of 6.76%. The firm had revenue of $443.33 million during the quarter, compared to analyst estimates of $446.66 million. During the same quarter in the prior year, the company posted $0.29 EPS. The company’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, sell-side analysts forecast that Invitation Homes Inc will post 1.23 earnings per share for the current fiscal year.
The company also recently disclosed a dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be issued a $0.13 dividend. The ex-dividend date is Tuesday, November 12th. Invitation Homes’s dividend payout ratio is currently 226.09%.
INVH has been the topic of a number of research reports. Keefe, Bruyette & Woods downgraded Invitation Homes from an “outperform” rating to a “market perform” rating and set a $28.50 target price on the stock. in a report on Friday, July 19th. Morgan Stanley upped their target price on Invitation Homes from $31.00 to $35.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Zacks Investment Research upgraded Invitation Homes from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. BTIG Research downgraded Invitation Homes from a “buy” rating to a “neutral” rating in a report on Thursday, October 31st. Finally, ValuEngine downgraded Invitation Homes from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $29.79.
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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