Royal Bank of Canada Trims Holdings in Invitation Home $INVH

Royal Bank of Canada decreased its position in shares of Invitation Home (NYSE:INVH) by 4.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,496,755 shares of the company’s stock after selling 62,950 shares during the period. Royal Bank of Canada owned 0.25% of Invitation Home worth $37,195,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Rush Island Management LP bought a new stake in shares of Invitation Home during the 1st quarter valued at $105,292,000. Empowered Funds LLC increased its stake in Invitation Home by 42.1% in the 1st quarter. Empowered Funds LLC now owns 20,090 shares of the company’s stock worth $499,000 after buying an additional 5,949 shares in the last quarter. Empyrean Capital Partners LP bought a new stake in Invitation Home during the first quarter valued at about $9,567,000. SummitTX Capital L.P. raised its holdings in Invitation Home by 30.3% during the first quarter. SummitTX Capital L.P. now owns 382,893 shares of the company’s stock valued at $9,515,000 after acquiring an additional 89,118 shares during the period. Finally, Corsair Capital Management L.P. purchased a new position in shares of Invitation Home in the first quarter valued at about $646,000. 96.79% of the stock is currently owned by institutional investors.

Invitation Home Stock Performance

NYSE INVH opened at $30.49 on Tuesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.02 and a quick ratio of 0.02. Invitation Home has a 1-year low of $24.25 and a 1-year high of $31.38. The business has a 50 day simple moving average of $29.66 and a two-hundred day simple moving average of $27.71. The stock has a market capitalization of $18.11 billion, a PE ratio of 27.98, a P/E/G ratio of 3.48 and a beta of 0.83.

Invitation Home Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Thursday, June 25th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Thursday, June 25th. Invitation Home’s dividend payout ratio (DPR) is presently 110.09%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on INVH. Scotiabank increased their target price on Invitation Home from $29.00 to $30.00 and gave the stock a “sector perform” rating in a research report on Thursday, June 18th. Evercore reissued an “outperform” rating and issued a $32.00 price target on shares of Invitation Home in a report on Friday, May 1st. Compass Point raised shares of Invitation Home to a “hold” rating in a report on Thursday, July 9th. Cfra cut shares of Invitation Home from a “hold” rating to a “sell” rating and reduced their price objective for the company from $29.00 to $27.00 in a research report on Wednesday, May 27th. Finally, Mizuho boosted their target price on shares of Invitation Home from $26.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, June 17th. Ten research 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. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $32.58.

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.