Royal Bank of Canada Raises Stock Holdings in Invitation Homes Inc. (NYSE:INVH)

Royal Bank of Canada boosted its holdings in shares of Invitation Homes Inc. (NYSE:INVH) by 140.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 837,102 shares of the company’s stock after purchasing an additional 489,367 shares during the quarter. Royal Bank of Canada’s holdings in Invitation Homes were worth $26,762,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of INVH. Lindbrook Capital LLC boosted its position in Invitation Homes by 58.4% during the fourth quarter. Lindbrook Capital LLC now owns 892 shares of the company’s stock worth $29,000 after purchasing an additional 329 shares in the last quarter. SRS Capital Advisors Inc. lifted its position in shares of Invitation Homes by 654.8% in the fourth quarter. SRS Capital Advisors Inc. now owns 951 shares of the company’s stock valued at $30,000 after acquiring an additional 825 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Invitation Homes by 58.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,024 shares of the company’s stock valued at $33,000 after acquiring an additional 378 shares in the last quarter. Allworth Financial LP lifted its position in shares of Invitation Homes by 101.2% in the fourth quarter. Allworth Financial LP now owns 1,396 shares of the company’s stock valued at $43,000 after acquiring an additional 702 shares in the last quarter. Finally, Center for Financial Planning Inc. purchased a new position in shares of Invitation Homes in the fourth quarter valued at approximately $48,000. Hedge funds and other institutional investors own 96.79% of the company’s stock.

Invitation Homes Stock Performance

Shares of Invitation Homes stock opened at $33.01 on Friday. The business’s 50 day moving average price is $33.69 and its 200 day moving average price is $32.91. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.24 and a current ratio of 0.24. The company has a market cap of $20.23 billion, a price-to-earnings ratio of 46.50, a PEG ratio of 4.70 and a beta of 0.87. Invitation Homes Inc. has a one year low of $29.37 and a one year high of $37.80.

Invitation Homes (NYSE:INVH) last posted its earnings results on Wednesday, April 30th. The company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.01. The company had revenue of $674.48 million during the quarter, compared to analysts’ expectations of $663.77 million. Invitation Homes had a return on equity of 4.36% and a net margin of 17.02%. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.47 earnings per share. On average, research analysts predict that Invitation Homes Inc. will post 1.83 EPS for the current year.

Invitation Homes Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 17th. Shareholders of record on Monday, March 17th were paid a dividend of $0.29 per share. The ex-dividend date was Thursday, March 27th. This represents a $1.16 annualized dividend and a yield of 3.51%. Invitation Homes’s dividend payout ratio (DPR) is 150.65%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Oppenheimer raised their target price on Invitation Homes from $39.00 to $41.00 and gave the company an “outperform” rating in a research report on Tuesday, May 6th. Raymond James raised their target price on Invitation Homes from $36.00 to $39.00 and gave the company an “outperform” rating in a research report on Friday, May 9th. Scotiabank raised their target price on Invitation Homes from $36.00 to $38.00 and gave the company a “sector perform” rating in a research report on Monday, May 12th. Morgan Stanley downgraded Invitation Homes from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $39.00 to $35.00 in a research report on Friday, January 24th. Finally, Keefe, Bruyette & Woods raised their target price on Invitation Homes from $36.00 to $37.00 and gave the company a “market perform” rating in a research report on Monday, May 5th. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Invitation Homes has an average rating of “Hold” and an average target price of $37.94.

Invitation Homes Company 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.