Invitation Homes (NYSE:INVH) Upgraded to Outperform at Evercore ISI

Evercore ISI upgraded shares of Invitation Homes (NYSE:INVH) from an in-line rating to an outperform rating in a research note released on Friday morning, Marketbeat Ratings reports. The brokerage currently has $37.00 price objective on the stock.

INVH has been the topic of a number of other reports. Mizuho cut their price target on Invitation Homes from $37.00 to $36.00 and set a neutral rating on the stock in a report on Monday, June 3rd. JPMorgan Chase & Co. boosted their price target on shares of Invitation Homes from $35.00 to $36.00 and gave the company a neutral rating in a report on Monday, June 17th. Keefe, Bruyette & Woods reaffirmed a market perform rating and issued a $38.00 price objective on shares of Invitation Homes in a report on Monday, June 17th. Deutsche Bank Aktiengesellschaft upgraded shares of Invitation Homes from a hold rating to a buy rating and lifted their price objective for the company from $35.00 to $41.00 in a research report on Wednesday. Finally, Raymond James upped their target price on shares of Invitation Homes from $37.00 to $39.00 and gave the stock an outperform rating in a research report on Thursday, March 28th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Invitation Homes has a consensus rating of Moderate Buy and an average price target of $38.44.

Invitation Homes Stock Performance

Invitation Homes stock opened at $34.07 on Friday. The company has a market cap of $20.87 billion, a PE ratio of 39.16, a P/E/G ratio of 2.04 and a beta of 0.99. Invitation Homes has a 12 month low of $28.49 and a 12 month high of $36.92. The company has a fifty day moving average price of $35.30 and a two-hundred day moving average price of $34.51. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.20 and a quick ratio of 0.21.

Invitation Homes (NYSE:INVH) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.22). The business had revenue of $646.04 million during the quarter, compared to analyst estimates of $630.97 million. Invitation Homes had a net margin of 18.75% and a return on equity of 4.68%. Research analysts expect that Invitation Homes will post 1.83 earnings per share for the current year.

Invitation Homes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Thursday, June 27th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend was Thursday, June 27th. Invitation Homes’s dividend payout ratio (DPR) is presently 128.74%.

Insider Activity

In related news, Director Cohen Jana Barbe sold 7,200 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $34.58, for a total value of $248,976.00. Following the sale, the director now directly owns 28,068 shares in the company, valued at approximately $970,591.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Cohen Jana Barbe sold 7,200 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $34.58, for a total transaction of $248,976.00. Following the completion of the sale, the director now owns 28,068 shares in the company, valued at approximately $970,591.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Charles D. Young sold 5,000 shares of Invitation Homes stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $34.85, for a total value of $174,250.00. Following the completion of the transaction, the chief operating officer now owns 275,296 shares in the company, valued at $9,594,065.60. The disclosure for this sale can be found here. Insiders own 0.28% of the company’s stock.

Institutional Trading of Invitation Homes

Several institutional investors and hedge funds have recently bought and sold shares of INVH. Norges Bank purchased a new position in shares of Invitation Homes in the fourth quarter worth approximately $1,346,883,000. Canada Pension Plan Investment Board grew its position in Invitation Homes by 27.2% during the 1st quarter. Canada Pension Plan Investment Board now owns 15,686,912 shares of the company’s stock worth $558,611,000 after purchasing an additional 3,351,424 shares in the last quarter. Boston Partners purchased a new position in Invitation Homes during the 4th quarter worth approximately $105,282,000. Goldman Sachs Group Inc. raised its stake in Invitation Homes by 66.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 5,424,752 shares of the company’s stock valued at $185,038,000 after purchasing an additional 2,169,522 shares during the period. Finally, First Financial Bankshares Inc purchased a new stake in shares of Invitation Homes in the fourth quarter valued at $45,104,000. Institutional investors and hedge funds own 96.79% of the company’s stock.

About Invitation Homes

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.