Invitation Homes (NYSE:INVH) Reaches New 52-Week High at $28.17

Invitation Homes Inc (NYSE:INVH)’s share price reached a new 52-week high on Monday . The stock traded as high as $28.17 and last traded at $28.00, with a volume of 2641773 shares trading hands. The stock had previously closed at $27.92.

INVH has been the subject of a number of recent research reports. BTIG Research set a $27.00 price objective on shares of Invitation Homes and gave the stock a “buy” rating in a research note on Tuesday, May 14th. Zacks Investment Research downgraded shares of CGI from a “buy” rating to a “hold” rating in a research note on Wednesday, June 19th. Raymond James reissued a “buy” rating and issued a $0.65 price objective on shares of DB Commodity Double Short ETN in a research note on Wednesday, May 15th. Finally, Evercore ISI downgraded shares of Invitation Homes from an “outperform” rating to an “in-line” rating in a research note on Monday, June 10th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $27.80.

The firm has a market capitalization of $14.68 billion, a P/E ratio of 121.00, a P/E/G ratio of 2.79 and a beta of 0.42. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.68 and a current ratio of 0.68. The stock has a 50 day moving average of $26.99.

Invitation Homes (NYSE:INVH) last issued its quarterly earnings results on Monday, May 6th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.26). The business had revenue of $435.50 million for the quarter, compared to analyst estimates of $434.60 million. Invitation Homes had a return on equity of 1.10% and a net margin of 1.89%. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.29 earnings per share. Equities research analysts predict that Invitation Homes Inc will post 1.25 earnings per share for the current fiscal year.

In other news, COO Charles D. Young sold 29,925 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $24.83, for a total transaction of $743,037.75. Following the sale, the chief operating officer now directly owns 176,184 shares of the company’s stock, valued at $4,374,648.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Brep Ih6 Holdings Llc sold 40,000,000 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $25.21, for a total transaction of $1,008,400,000.00. The disclosure for this sale can be found here. Insiders have sold 77,529,925 shares of company stock worth $2,037,768,038 over the last three months. Corporate insiders own 0.25% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in INVH. Norges Bank purchased a new stake in Invitation Homes in the fourth quarter valued at $69,745,000. BlackRock Inc. boosted its stake in shares of Invitation Homes by 11.4% during the 1st quarter. BlackRock Inc. now owns 28,528,818 shares of the company’s stock worth $694,106,000 after acquiring an additional 2,926,081 shares in the last quarter. Zimmer Partners LP boosted its stake in shares of Invitation Homes by 58.2% during the 4th quarter. Zimmer Partners LP now owns 7,874,801 shares of the company’s stock worth $158,126,000 after acquiring an additional 2,896,804 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Invitation Homes by 13.5% during the 1st quarter. Principal Financial Group Inc. now owns 23,416,592 shares of the company’s stock worth $569,726,000 after acquiring an additional 2,783,568 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in shares of Invitation Homes by 19.5% during the 1st quarter. Daiwa Securities Group Inc. now owns 13,349,812 shares of the company’s stock worth $324,801,000 after acquiring an additional 2,174,523 shares in the last quarter.

Invitation Homes Company Profile (NYSE:INVH)

Invitation Homes is a leading owner and operator of single-family rental homes, offering residents high-quality homes across America. With over 80,000 homes for lease in 17 markets across the country, Invitation Homes is meeting changing lifestyle demands by providing residents access to updated homes with features they value, such as close proximity to jobs and access to good schools.

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