Principal Financial Group Inc. Reduces Stake in Invitation Home $INVH

Principal Financial Group Inc. reduced its stake in shares of Invitation Home (NYSE:INVH) by 4.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 17,446,124 shares of the company’s stock after selling 774,772 shares during the period. Principal Financial Group Inc. owned about 2.85% of Invitation Home worth $511,695,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Mather Group LLC. bought a new position in Invitation Home during the third quarter valued at $42,000. IFP Advisors Inc lifted its position in shares of Invitation Home by 3,219.5% during the 2nd quarter. IFP Advisors Inc now owns 1,361 shares of the company’s stock valued at $45,000 after buying an additional 1,320 shares during the last quarter. CYBER HORNET ETFs LLC bought a new position in shares of Invitation Home during the 2nd quarter worth $49,000. Harbor Capital Advisors Inc. increased its holdings in Invitation Home by 86.2% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,693 shares of the company’s stock worth $50,000 after acquiring an additional 784 shares during the last quarter. Finally, MUFG Securities EMEA plc purchased a new stake in Invitation Home in the 2nd quarter worth about $55,000. Institutional investors own 96.79% of the company’s stock.

Invitation Home Stock Performance

NYSE INVH opened at $26.71 on Friday. Invitation Home has a 1 year low of $25.29 and a 1 year high of $35.80. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.03 and a quick ratio of 0.03. The stock has a market capitalization of $16.37 billion, a PE ratio of 28.12, a P/E/G ratio of 2.87 and a beta of 0.83. The company’s 50 day simple moving average is $27.20 and its two-hundred day simple moving average is $28.79.

Invitation Home (NYSE:INVH) last released its quarterly earnings results on Wednesday, October 29th. The company reported $0.47 EPS for the quarter, meeting analysts’ consensus estimates of $0.47. Invitation Home had a net margin of 21.70% and a return on equity of 6.03%. The firm had revenue of $688.17 million during the quarter, compared to analyst estimates of $679.41 million. During the same period in the previous year, the business earned $0.47 EPS. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. Analysts predict that Invitation Home will post 1.83 earnings per share for the current fiscal year.

Invitation Home Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Tuesday, December 23rd were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend was Tuesday, December 23rd. This is an increase from Invitation Home’s previous quarterly dividend of $0.29. Invitation Home’s payout ratio is 126.32%.

Wall Street Analysts Forecast Growth

Several research firms have commented on INVH. Citigroup reaffirmed a “market outperform” rating on shares of Invitation Home in a report on Wednesday, January 21st. Oppenheimer set a $38.00 price target on shares of Invitation Home and gave the company an “outperform” rating in a research note on Tuesday, November 4th. UBS Group set a $40.00 price objective on shares of Invitation Home in a research note on Wednesday, January 21st. Barclays reissued an “overweight” rating and set a $33.00 target price on shares of Invitation Home in a report on Tuesday, January 13th. Finally, Evercore ISI cut their price target on Invitation Home from $34.00 to $33.00 and set an “outperform” rating for the company in a report on Friday, October 31st. Eight investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Invitation Home presently has an average rating of “Moderate Buy” and an average price target of $34.70.

Invitation Home Profile

Invitation Homes (NYSE: INVH) is a real estate investment trust that specializes in the ownership, operation and leasing of single-family rental homes across the United States. The company focuses on acquiring suburban and urban-adjacent single-family residences and managing them as rental properties for households seeking professionally managed, long-term housing alternatives to traditional homeownership or multifamily rentals.

Operationally, Invitation Homes is involved in the full lifecycle of the single-family rental business: sourcing and acquiring homes, performing renovations and ongoing maintenance, marketing and leasing properties, and providing property management and resident services.