PGGM Investments Increases Stock Holdings in Invitation Homes Inc (NYSE:INVH)

PGGM Investments increased its holdings in shares of Invitation Homes Inc (NYSE:INVH) by 25.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,633,659 shares of the company’s stock after buying an additional 2,152,029 shares during the period. Invitation Homes comprises approximately 1.8% of PGGM Investments’ investment portfolio, making the stock its 12th largest holding. PGGM Investments’ holdings in Invitation Homes were worth $318,691,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in Invitation Homes by 27.6% in the 2nd quarter. Vanguard Group Inc. now owns 62,328,263 shares of the company’s stock valued at $1,666,034,000 after purchasing an additional 13,491,691 shares during the last quarter. BlackRock Inc. increased 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 acquiring an additional 3,837,192 shares during the last quarter. State Street Corp increased its stake in shares of Invitation Homes by 21.5% in the 3rd quarter. State Street Corp now owns 23,808,797 shares of the company’s stock worth $704,978,000 after acquiring an additional 4,216,941 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Invitation Homes by 1,373.2% in the 2nd quarter. Bank of America Corp DE now owns 23,768,299 shares of the company’s stock worth $635,327,000 after acquiring an additional 22,154,878 shares during the last quarter. Finally, Zimmer Partners LP increased its stake in shares of Invitation Homes by 93.5% in the 3rd quarter. Zimmer Partners LP now owns 13,489,800 shares of the company’s stock worth $399,433,000 after acquiring an additional 6,519,174 shares during the last quarter.

In related news, major shareholder Vii-Nq Side-By-Side Gp L. Brep sold 57,600,000 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $30.05, for a total transaction of $1,730,880,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Barry S. Sternlicht sold 42,758 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $30.00, for a total value of $1,282,740.00. Following the transaction, the director now owns 11,187 shares of the company’s stock, valued at $335,610. The disclosure for this sale can be found here. Insiders have sold a total of 58,945,904 shares of company stock valued at $1,771,511,150 over the last three months. Corporate insiders own 0.25% of the company’s stock.

INVH has been the subject of a number of recent research reports. Zacks Investment Research downgraded Invitation Homes from a “hold” rating to a “sell” rating in a research note on Wednesday, January 1st. Morgan Stanley raised their target price on Invitation Homes from $31.00 to $35.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Credit Suisse Group raised their target price on Invitation Homes from $28.50 to $32.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Goldman Sachs Group initiated coverage on Invitation Homes in a research note on Friday, November 8th. They issued a “sell” rating and a $29.00 target price for the company. Finally, BTIG Research downgraded Invitation Homes from a “buy” rating to a “neutral” rating in a research note on Thursday, October 31st. Three research analysts have rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $30.05.

Shares of NYSE:INVH traded down $0.03 during midday trading on Friday, reaching $30.51. 448,843 shares of the company’s stock were exchanged, compared to its average volume of 3,107,359. The firm’s 50 day simple moving average is $29.74 and its two-hundred day simple moving average is $29.12. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.29 and a quick ratio of 0.29. The stock has a market cap of $16.08 billion, a price-to-earnings ratio of 132.63, a P/E/G ratio of 2.90 and a beta of 0.37. Invitation Homes Inc has a fifty-two week low of $20.65 and a fifty-two week high of $31.32.

Invitation Homes (NYSE:INVH) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.24). The business had revenue of $443.33 million for the quarter, compared to analyst estimates of $446.66 million. Invitation Homes had a return on equity of 1.83% and a net margin of 6.76%. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.29 earnings per share. Equities research analysts predict that Invitation Homes Inc will post 1.22 earnings per share for the current fiscal year.

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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Institutional Ownership by Quarter for Invitation Homes (NYSE:INVH)

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