Amundi Sells 573,448 Shares of Invitation Home $INVH

Key Points

• Amundi cut its Invitation Homes stake by 13.5% in the first quarter, selling 573,448 shares and retaining 3.67 million shares worth approximately $91.2 million. Institutional investors collectively own 96.79% of the company.
• Analyst sentiment remains mixed but targets have generally risen: the consensus rating is “Hold” with an average price target of $32.47, compared with the stock’s reported price of $29.72.
• Invitation Homes beat quarterly EPS expectations, reporting $0.26 versus the $0.18 consensus estimate, while revenue rose 8.8% year over year. The company also paid a $0.30 quarterly dividend, equivalent to a 4.0% yield.

Amundi decreased its position in Invitation Home (NYSE:INVH - Free Report) by 13.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,670,349 shares of the company's stock after selling 573,448 shares during the period. Amundi owned about 0.62% of Invitation Home worth $91,208,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. AQR Capital Management LLC lifted its holdings in Invitation Home by 67.4% during the first quarter. AQR Capital Management LLC now owns 74,426 shares of the company's stock valued at $2,589,000 after purchasing an additional 29,962 shares during the last quarter. Empowered Funds LLC raised its position in shares of Invitation Home by 10.7% in the first quarter. Empowered Funds LLC now owns 13,324 shares of the company's stock valued at $464,000 after purchasing an additional 1,290 shares during the period. Sivia Capital Partners LLC bought a new stake in shares of Invitation Home in the second quarter valued at approximately $287,000. Cetera Investment Advisers lifted its stake in shares of Invitation Home by 8.5% during the 2nd quarter. Cetera Investment Advisers now owns 19,412 shares of the company's stock valued at $637,000 after buying an additional 1,528 shares in the last quarter. Finally, Cresset Asset Management LLC lifted its stake in shares of Invitation Home by 5.5% during the 2nd quarter. Cresset Asset Management LLC now owns 15,646 shares of the company's stock valued at $515,000 after buying an additional 809 shares in the last quarter. 96.79% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on INVH. Raymond James Financial upgraded shares of Invitation Home from a "market perform" rating to an "outperform" rating and set a $32.00 price objective for the company in a research note on Monday, May 18th. Royal Bank Of Canada raised their price target on Invitation Home from $28.00 to $30.00 and gave the stock a "sector perform" rating in a report on Friday, May 1st. Scotiabank lifted their price target on Invitation Home from $29.00 to $30.00 and gave the company a "sector perform" rating in a research report on Thursday, June 18th. BMO Capital Markets lifted their price target on Invitation Home from $32.00 to $35.00 and gave the company a "market perform" rating in a research report on Monday, June 15th. Finally, Barclays boosted their price objective on Invitation Home from $32.00 to $36.00 and gave the company an "overweight" rating in a research note on Tuesday, July 14th. Ten equities 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 data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $32.47.

Invitation Home Stock Performance

NYSE INVH opened at $29.72 on Friday. The company's 50 day simple moving average is $29.63 and its two-hundred day simple moving average is $27.67. 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 stock has a market capitalization of $17.65 billion, a PE ratio of 27.27, a P/E/G ratio of 3.48 and a beta of 0.84.

Invitation Home (NYSE:INVH - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The company reported $0.26 EPS for the quarter, beating analysts' consensus estimates of $0.18 by $0.08. Invitation Home had a net margin of 23.13% and a return on equity of 7.22%. The firm had revenue of $579.00 million during the quarter, compared to analyst estimates of $689.91 million. During the same period in the previous year, the business earned $0.48 EPS. The business's revenue for the quarter was up 8.8% on a year-over-year basis. Analysts predict that Invitation Home will post 1.89 earnings per share for the current fiscal year.

Invitation Home Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Thursday, June 25th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 4.0%. The ex-dividend date was Thursday, June 25th. Invitation Home's payout ratio is presently 110.09%.

About Invitation Home

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.

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