The Manufacturers Life Insurance Company Cuts Stock Position in Invitation Homes Inc. (NYSE:INVH)

The Manufacturers Life Insurance Company trimmed its position in shares of Invitation Homes Inc. (NYSE:INVH) by 0.8% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 395,129 shares of the company’s stock after selling 3,348 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Invitation Homes were worth $14,181,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of INVH. BOK Financial Private Wealth Inc. bought a new position in Invitation Homes during the first quarter valued at approximately $26,000. UMB Bank n.a. boosted its stake in shares of Invitation Homes by 496.9% in the 2nd quarter. UMB Bank n.a. now owns 770 shares of the company’s stock valued at $28,000 after purchasing an additional 641 shares in the last quarter. Family Firm Inc. purchased a new stake in shares of Invitation Homes in the 2nd quarter valued at $42,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Invitation Homes during the 2nd quarter valued at $44,000. Finally, Headlands Technologies LLC purchased a new position in Invitation Homes in the 2nd quarter worth $45,000. Institutional investors own 96.79% of the company’s stock.

Invitation Homes Stock Performance

Shares of Invitation Homes stock opened at $34.39 on Thursday. Invitation Homes Inc. has a 12 month low of $28.49 and a 12 month high of $37.80. The firm has a market capitalization of $21.07 billion, a P/E ratio of 39.53, a P/E/G ratio of 4.56 and a beta of 1.01. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.54. The business has a fifty day simple moving average of $35.74 and a two-hundred day simple moving average of $35.25.

Invitation Homes (NYSE:INVH) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.34). The business had revenue of $653.45 million for the quarter, compared to analysts’ expectations of $654.70 million. Invitation Homes had a net margin of 18.75% and a return on equity of 4.68%. On average, equities analysts forecast that Invitation Homes Inc. will post 1.83 earnings per share for the current fiscal year.

Invitation Homes Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, September 26th will be given a $0.28 dividend. The ex-dividend date is Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.26%. Invitation Homes’s dividend payout ratio is currently 128.74%.

Analysts Set New Price Targets

Several analysts have issued reports on INVH shares. Bank of America lowered shares of Invitation Homes from a “buy” rating to a “neutral” rating and cut their price target for the company from $39.00 to $37.00 in a research report on Tuesday, September 24th. The Goldman Sachs Group initiated coverage on Invitation Homes in a research report on Wednesday, September 4th. They set a “buy” rating and a $46.00 price target on the stock. Royal Bank of Canada downgraded Invitation Homes from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $37.00 to $36.00 in a research report on Monday, September 9th. Wells Fargo & Company cut shares of Invitation Homes from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $37.00 to $38.00 in a report on Monday, August 26th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Invitation Homes from a “hold” rating to a “buy” rating and increased their price target for the company from $35.00 to $41.00 in a research report on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Invitation Homes presently has an average rating of “Moderate Buy” and a consensus target price of $39.05.

Invitation Homes Profile

Invitation Homes, an S&P 500 company, is the nation's premier single-family home leasing and management company, meeting changing lifestyle demands by providing access to high-quality, updated homes with valued features such as close proximity to jobs and access to good schools. The company's mission, Together with you, we make a house a home, reflects its commitment to providing homes where individuals and families can thrive and high-touch service that continuously enhances residents' living experiences.