Arrowstreet Capital Limited Partnership Cuts Stock Position in Invitation Home $INVH

Key Points

• Arrowstreet Capital cut its Invitation Homes stake by 56.1% in the first quarter, selling 1.13 million shares and retaining 883,267 shares worth approximately $21.95 million. Institutional investors own 96.79% of the company.
• Analyst sentiment is mixed, with 10 Buy, 10 Hold, and 1 Sell rating; the consensus is Hold with an average price target of $32.47. INVH shares recently opened at $30.09, near their 52-week high of $31.96.
• Invitation Homes beat quarterly EPS expectations, reporting $0.26 versus the $0.18 consensus, while revenue rose 8.8% year over year. The company also declared a $0.30 quarterly dividend, representing a 4.0% annualized yield.

Arrowstreet Capital Limited Partnership decreased its stake in shares of Invitation Home (NYSE:INVH - Free Report) by 56.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 883,267 shares of the company's stock after selling 1,128,747 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.15% of Invitation Home worth $21,949,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Sequoia Financial Advisors LLC increased its holdings in shares of Invitation Home by 2.4% during the fourth quarter. Sequoia Financial Advisors LLC now owns 20,257 shares of the company's stock valued at $563,000 after acquiring an additional 484 shares in the last quarter. LPL Financial LLC grew its position in Invitation Home by 0.7% during the 4th quarter. LPL Financial LLC now owns 73,676 shares of the company's stock valued at $2,047,000 after purchasing an additional 503 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in Invitation Home by 5.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 10,575 shares of the company's stock valued at $294,000 after purchasing an additional 516 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Invitation Home by 21.6% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 3,171 shares of the company's stock valued at $93,000 after purchasing an additional 564 shares in the last quarter. Finally, SCS Capital Management LLC raised its holdings in Invitation Home by 3.4% in the fourth quarter. SCS Capital Management LLC now owns 17,908 shares of the company's stock worth $498,000 after buying an additional 582 shares during the last quarter. 96.79% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on INVH. Compass Point upgraded shares of Invitation Home to a "hold" rating in a report on Thursday, July 9th. BMO Capital Markets upped their price objective 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. Raymond James Financial upgraded Invitation Home from a "market perform" rating to an "outperform" rating and set a $32.00 target price on the stock in a research note on Monday, May 18th. Evercore reissued an "outperform" rating and issued a $32.00 target price on shares of Invitation Home in a report on Friday, May 1st. Finally, Scotiabank boosted their price target on Invitation Home from $29.00 to $30.00 and gave the stock a "sector perform" rating in a research note on Thursday, June 18th. Ten equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $32.47.

Invitation Home Stock Performance

Shares of INVH stock opened at $30.09 on Thursday. The company has a quick ratio of 0.02, a current ratio of 0.02 and a debt-to-equity ratio of 0.50. The company has a 50 day moving average price of $29.61 and a 200-day moving average price of $27.64. Invitation Home has a 52 week low of $24.25 and a 52 week high of $31.96. The firm has a market capitalization of $17.87 billion, a PE ratio of 31.67, a P/E/G ratio of 3.52 and a beta of 0.84.

Invitation Home (NYSE:INVH - Get Free Report) last issued its earnings results on Wednesday, April 29th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.08. Invitation Home had a net margin of 20.88% and a return on equity of 6.29%. The company had revenue of $579.00 million for the quarter, compared to analysts' expectations of $689.91 million. During the same quarter last year, the company posted $0.48 earnings per share. The firm's quarterly revenue was up 8.8% on a year-over-year basis. As a group, equities research analysts expect that Invitation Home will post 1.89 earnings per share for the current year.

Invitation Home Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Thursday, June 25th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Thursday, June 25th. Invitation Home's dividend payout ratio is presently 126.32%.

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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