Bank of Nova Scotia Cuts Holdings in Invitation Home $INVH

Bank of Nova Scotia decreased its stake in Invitation Home (NYSE:INVH - Free Report) by 49.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 89,865 shares of the company's stock after selling 87,255 shares during the period. Bank of Nova Scotia's holdings in Invitation Home were worth $2,233,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Cromwell Holdings LLC increased its stake in Invitation Home by 2,463.5% in the fourth quarter. Cromwell Holdings LLC now owns 1,333 shares of the company's stock valued at $37,000 after acquiring an additional 1,281 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in Invitation Home by 136,000.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 1,361 shares of the company's stock worth $40,000 after purchasing an additional 1,360 shares during the last quarter. Prosperity Bancshares Inc purchased a new position in shares of Invitation Home in the 4th quarter worth about $42,000. MUFG Securities EMEA plc purchased a new position in shares of Invitation Home in the 2nd quarter worth about $55,000. Finally, AdvisorNet Financial Inc increased its position in shares of Invitation Home by 7,687.5% during the 1st quarter. AdvisorNet Financial Inc now owns 1,869 shares of the company's stock valued at $46,000 after purchasing an additional 1,845 shares during the last quarter. Hedge funds and other institutional investors own 96.79% of the company's stock.

Analysts Set New Price Targets

INVH has been the topic of a number of research reports. Weiss Ratings raised Invitation Home from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, June 1st. Royal Bank Of Canada increased their price target on shares of Invitation Home from $28.00 to $30.00 and gave the company a "sector perform" rating in a research report on Friday, May 1st. Cfra downgraded shares of Invitation Home from a "hold" rating to a "sell" rating and decreased their price target for the stock from $29.00 to $27.00 in a research note on Wednesday, May 27th. BMO Capital Markets boosted their price objective on shares of Invitation Home from $32.00 to $35.00 and gave the stock a "market perform" rating in a report on Monday, June 15th. Finally, Wells Fargo & Company raised shares of Invitation Home from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $31.00 to $33.00 in a research note on Wednesday, June 24th. Ten research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $32.47.

Invitation Home Stock Up 1.5%

Shares of NYSE:INVH opened at $30.08 on Wednesday. Invitation Home has a 1 year low of $24.25 and a 1 year high of $32.04. The company has a market cap of $17.87 billion, a PE ratio of 31.66, a P/E/G ratio of 3.47 and a beta of 0.84. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.02 and a quick ratio of 0.02. The stock's 50-day moving average is $29.59 and its 200 day moving average is $27.61.

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

Invitation Home Announces Dividend

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