Bank of America Corp DE Purchases 129,202 Shares of Invitation Home $INVH

Key Points

• Bank of America increased its Invitation Home position by 4.6%, purchasing 129,202 shares to bring its holdings to 2.96 million shares worth approximately $73.5 million. Institutional investors collectively own 96.79% of the company.
• Invitation Home shares opened at $30.38, near their 52-week high of $31.38, and the company pays a quarterly dividend of $0.30, or $1.20 annually, representing a 4.0% yield.
• Analyst sentiment remains broadly neutral: the stock has an average “Hold” rating and a consensus price target of $32.68, although several analysts recently raised their individual targets.

Bank of America Corp DE boosted its position in Invitation Home (NYSE:INVH - Free Report) by 4.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 2,956,870 shares of the company's stock after purchasing an additional 129,202 shares during the period. Bank of America Corp DE owned about 0.50% of Invitation Home worth $73,478,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in Invitation Home in the fourth quarter valued at approximately $1,438,952,000. State Street Corp raised its stake in Invitation Home by 1.3% in the 3rd quarter. State Street Corp now owns 36,621,403 shares of the company's stock valued at $1,084,514,000 after acquiring an additional 462,379 shares during the period. Geode Capital Management LLC lifted its holdings in Invitation Home by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 16,934,620 shares of the company's stock valued at $468,997,000 after purchasing an additional 203,474 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in Invitation Home by 8.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 14,487,603 shares of the company's stock valued at $424,922,000 after purchasing an additional 1,168,113 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in Invitation Home by 7.5% during the 3rd quarter. Invesco Ltd. now owns 12,622,824 shares of the company's stock valued at $370,227,000 after purchasing an additional 877,491 shares during the last quarter. Institutional investors own 96.79% of the company's stock.

Invitation Home Stock Performance

Shares of NYSE INVH opened at $30.38 on Monday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.02 and a quick ratio of 0.02. The firm has a market cap of $17.94 billion, a price-to-earnings ratio of 27.87, a P/E/G ratio of 3.56 and a beta of 0.83. The stock's fifty day moving average price is $29.74 and its two-hundred day moving average price is $27.80. Invitation Home has a one year low of $24.25 and a one year high of $31.38.

Invitation Home Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have commented on the stock. BMO Capital Markets upped their price objective on shares of Invitation Home from $32.00 to $35.00 and gave the company a "market perform" rating in a report on Monday, June 15th. Citigroup restated a "buy" rating on shares of Invitation Home in a research note on Thursday. Royal Bank Of Canada lifted their target price on shares of Invitation Home from $28.00 to $30.00 and gave the stock a "sector perform" rating in a report on Friday, May 1st. Wall Street Zen upgraded shares of Invitation Home from a "sell" rating to a "hold" rating in a research note on Saturday, April 25th. Finally, Oppenheimer increased their price target on shares of Invitation Home from $31.00 to $33.00 and gave the company an "outperform" rating in a report on Monday, August 3rd. Ten research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Invitation Home currently has an average rating of "Hold" and an average price target of $32.68.

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.

Want to see what other hedge funds are holding INVH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Invitation Home (NYSE:INVH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source