38,291 Invitation Homes $INVH Shares Sold by Carnegie Lake Advisors LLC

Key Points

• Carnegie Lake Advisors cut its Invitation Homes stake by 96.3% in the third quarter, selling 38,291 shares and retaining 1,482 shares valued at about $39,000.
• Analyst views are mixed: 11 rate the stock Buy, nine Hold and one Sell; MarketBeat’s consensus rating is Hold, with an average price target of $32.
• Invitation Homes reported quarterly EPS of $0.27, beating the $0.18 consensus, while revenue of $731.28 million fell short of estimates. Its quarterly dividend was $0.30 per share, equivalent to a 4.4% annualized yield.

Carnegie Lake Advisors LLC decreased its position in Invitation Homes (NYSE:INVH - Free Report) by 96.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,482 shares of the company's stock after selling 38,291 shares during the period. Carnegie Lake Advisors LLC's holdings in Invitation Homes were worth $39,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Versant Capital Management Inc grew its stake in Invitation Homes by 21.0% during the 3rd quarter. Versant Capital Management Inc now owns 2,866 shares of the company's stock valued at $75,000 after purchasing an additional 498 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in shares of Invitation Homes by 110.8% in the second quarter. Parkside Financial Bank & Trust now owns 1,018 shares of the company's stock worth $31,000 after purchasing an additional 535 shares during the last quarter. IFP Advisors Inc raised its stake in shares of Invitation Homes by 59.5% in the second quarter. IFP Advisors Inc now owns 1,745 shares of the company's stock worth $53,000 after purchasing an additional 651 shares during the last quarter. Capital Square LLC lifted its holdings in shares of Invitation Homes by 2.6% during the third quarter. Capital Square LLC now owns 27,565 shares of the company's stock worth $726,000 after purchasing an additional 690 shares during the period. Finally, Raiffeisen Bank International AG lifted its holdings in shares of Invitation Homes by 174.5% during the second quarter. Raiffeisen Bank International AG now owns 1,301 shares of the company's stock worth $40,000 after purchasing an additional 827 shares during the period. Hedge funds and other institutional investors own 96.79% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Keefe, Bruyette & Woods upped their target price on Invitation Homes from $29.00 to $31.00 and gave the company a "market perform" rating in a research report on Wednesday, August 5th. Oppenheimer raised their price target on shares of Invitation Homes from $31.00 to $33.00 and gave the stock an "outperform" rating in a research report on Monday, August 3rd. BTIG Research set a $32.00 price objective on shares of Invitation Homes in a research note on Monday, September 21st. Royal Bank Of Canada dropped their price objective on shares of Invitation Homes from $31.00 to $29.00 and set a "sector perform" rating on the stock in a report on Tuesday, October 13th. Finally, Wells Fargo & Company dropped their price objective on shares of Invitation Homes from $33.00 to $30.00 and set an "overweight" rating on the stock in a report on Monday, October 19th. Eleven research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $32.00.

Invitation Homes Stock Performance

NYSE INVH opened at $27.10 on Monday. The stock has a 50-day simple moving average of $27.17 and a two-hundred day simple moving average of $27.79. The firm has a market capitalization of $15.61 billion, a P/E ratio of 23.77, a PEG ratio of 4.22 and a beta of 0.81. Invitation Homes has a fifty-two week low of $24.25 and a fifty-two week high of $30.89. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.01 and a current ratio of 0.01.

Invitation Homes (NYSE:INVH - Get Free Report) last issued its earnings results on Wednesday, October 28th. The company reported $0.27 EPS for the quarter, topping analysts' consensus estimates of $0.18 by $0.09. The firm had revenue of $731.28 million for the quarter, compared to the consensus estimate of $742.55 million. Invitation Homes had a return on equity of 7.62% and a net margin of 23.54%. The company's revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.47 earnings per share. On average, equities analysts forecast that Invitation Homes will post 1.90 earnings per share for the current year.

Invitation Homes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Thursday, September 24th were issued a $0.30 dividend. The ex-dividend date of this dividend was Thursday, September 24th. This represents a $1.20 dividend on an annualized basis and a yield of 4.4%. Invitation Homes's payout ratio is presently 105.26%.

About Invitation Homes

Invitation Homes Inc NYSE: INVH is a real estate investment trust that owns, leases and operates single-family homes in the United States. The company provides professionally managed rental housing for individuals and families, with properties generally located in suburban communities and metropolitan areas.

The company’s services include home leasing, property management, resident support, maintenance and renovations. Invitation Homes uses technology and centralized operating systems to market homes, manage lease agreements, collect rent and coordinate property care.

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