Renaissance Technologies LLC Sells 264,700 Shares of Invitation Home $INVH

Renaissance Technologies LLC reduced its position in Invitation Home (NYSE:INVH) by 19.1% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 1,118,383 shares of the company’s stock after selling 264,700 shares during the period. Renaissance Technologies LLC’s holdings in Invitation Home were worth $27,792,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Lasalle Investment Management Securities LLC grew its holdings in shares of Invitation Home by 10.3% in the first quarter. Lasalle Investment Management Securities LLC now owns 668,065 shares of the company’s stock worth $16,601,000 after acquiring an additional 62,577 shares during the period. First Trust Advisors LP boosted its position in Invitation Home by 2.7% in the first quarter. First Trust Advisors LP now owns 1,454,904 shares of the company’s stock worth $36,154,000 after purchasing an additional 38,837 shares during the last quarter. Oslo Pensjonsforsikring AS purchased a new position in Invitation Home in the first quarter worth about $334,000. Commerzbank Aktiengesellschaft FI boosted its position in Invitation Home by 143.1% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 39,401 shares of the company’s stock worth $979,000 after purchasing an additional 23,196 shares during the last quarter. Finally, Meeder Advisory Services Inc. grew its stake in shares of Invitation Home by 13.8% during the 1st quarter. Meeder Advisory Services Inc. now owns 11,145 shares of the company’s stock valued at $277,000 after purchasing an additional 1,353 shares during the period. Institutional investors own 96.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on INVH. Wall Street Zen raised shares of Invitation Home from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Keefe, Bruyette & Woods raised their price objective on shares of Invitation Home from $28.00 to $29.00 and gave the stock a “market perform” rating in a report on Monday, May 4th. UBS Group boosted their target price on shares of Invitation Home from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Cfra cut shares of Invitation Home from a “hold” rating to a “sell” rating and reduced their target price for the company from $29.00 to $27.00 in a report on Wednesday, May 27th. Finally, Evercore reiterated an “outperform” rating and issued a $32.00 price target on shares of Invitation Home in a research report on Friday, May 1st. Ten investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $32.47.

Invitation Home Stock Performance

NYSE:INVH opened at $30.08 on Wednesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.02 and a current ratio of 0.02. The stock has a 50-day simple moving average of $29.59 and a two-hundred day simple moving average of $27.61. The firm has a market capitalization of $17.87 billion, a PE ratio of 31.66, a P/E/G ratio of 3.47 and a beta of 0.84. Invitation Home has a 52-week low of $24.25 and a 52-week high of $32.04.

Invitation Home (NYSE:INVH) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.18 by $0.08. Invitation Home had a return on equity of 6.29% and a net margin of 20.88%.The firm had revenue of $579.00 million for the quarter, compared to the consensus estimate of $689.91 million. During the same quarter last year, the company earned $0.48 earnings per share. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. Analysts forecast that Invitation Home will post 1.89 EPS for the current year.

Invitation Home Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Thursday, June 25th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Thursday, June 25th. Invitation Home’s dividend payout ratio is currently 126.32%.

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.