California Public Employees Retirement System Decreases Stake in Invitation Homes Inc. (NYSE:INVH)

California Public Employees Retirement System cut its holdings in Invitation Homes Inc. (NYSE:INVH) by 4.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,100,816 shares of the company’s stock after selling 50,990 shares during the quarter. California Public Employees Retirement System’s holdings in Invitation Homes were worth $37,549,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Alps Advisors Inc. boosted its stake in shares of Invitation Homes by 2.2% in the third quarter. Alps Advisors Inc. now owns 17,515 shares of the company’s stock valued at $555,000 after buying an additional 372 shares in the last quarter. Park Avenue Securities LLC boosted its stake in shares of Invitation Homes by 2.4% in the third quarter. Park Avenue Securities LLC now owns 17,781 shares of the company’s stock valued at $563,000 after buying an additional 421 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Invitation Homes by 0.3% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 144,841 shares of the company’s stock valued at $4,590,000 after buying an additional 473 shares in the last quarter. CWM LLC boosted its position in Invitation Homes by 10.2% during the third quarter. CWM LLC now owns 6,590 shares of the company’s stock worth $209,000 after purchasing an additional 608 shares in the last quarter. Finally, Wealth Alliance boosted its position in Invitation Homes by 9.0% during the fourth quarter. Wealth Alliance now owns 7,394 shares of the company’s stock worth $252,000 after purchasing an additional 610 shares in the last quarter. 96.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on INVH. Jefferies Financial Group upgraded Invitation Homes from a “hold” rating to a “buy” rating and boosted their target price for the stock from $33.00 to $41.00 in a research report on Tuesday, January 2nd. Evercore ISI reiterated an “in-line” rating and set a $36.00 target price on shares of Invitation Homes in a research report on Monday, March 18th. Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 target price on shares of Invitation Homes in a research report on Thursday, February 15th. KeyCorp boosted their target price on Invitation Homes from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Friday, January 5th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Invitation Homes in a research report on Tuesday, January 30th. They set a “hold” rating and a $35.00 target price on the stock. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.19.

Invitation Homes Stock Performance

Invitation Homes stock opened at $34.71 on Friday. The firm has a market capitalization of $21.26 billion, a P/E ratio of 41.32, a PEG ratio of 2.04 and a beta of 0.94. The stock has a fifty day moving average price of $34.34 and a 200 day moving average price of $33.42. Invitation Homes Inc. has a 52 week low of $28.49 and a 52 week high of $36.53. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.53.

Invitation Homes (NYSE:INVH) last released its earnings results on Tuesday, February 13th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.23). The business had revenue of $624.32 million during the quarter, compared to analyst estimates of $623.51 million. Invitation Homes had a net margin of 21.34% and a return on equity of 5.06%. Equities research analysts anticipate that Invitation Homes Inc. will post 1.83 earnings per share for the current year.

Invitation Homes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Thursday, March 28th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.12 annualized dividend and a yield of 3.23%. Invitation Homes’s dividend payout ratio is presently 133.33%.

Insiders Place Their Bets

In other Invitation Homes news, CFO Jonathan S. Olsen sold 10,000 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $34.75, for a total transaction of $347,500.00. Following the completion of the sale, the chief financial officer now directly owns 37,037 shares in the company, valued at $1,287,035.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.28% of the stock is currently owned by insiders.

Invitation Homes Company Profile

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.