Conversant Capital LLC Acquires New Position in Invitation Home $INVH

Key Points

• Conversant Capital LLC disclosed a new first-quarter position in Invitation Home, buying 1.25 million shares worth about $31.1 million. The stake makes INVH its second-largest holding and represents about 0.21% of the company.
• Institutional ownership of Invitation Home remains very high, with several large funds adding to positions and 96.79% of the stock owned by institutional investors.
• Invitation Home reported quarterly EPS of $0.26, beating analyst expectations, and its shares also pay a quarterly dividend of $0.30 per share, equal to a 4.0% annualized yield.

Conversant Capital LLC acquired a new stake in Invitation Home (NYSE:INVH - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,250,000 shares of the company's stock, valued at approximately $31,062,000. Invitation Home accounts for approximately 4.3% of Conversant Capital LLC's holdings, making the stock its 2nd largest position. Conversant Capital LLC owned about 0.21% of Invitation Home as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Invitation Home during the fourth quarter valued at approximately $1,438,952,000. State Street Corp grew its stake in Invitation Home by 1.3% in the third quarter. State Street Corp now owns 36,621,403 shares of the company's stock worth $1,084,514,000 after purchasing an additional 462,379 shares in the last quarter. Geode Capital Management LLC grew its stake in Invitation Home by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 16,934,620 shares of the company's stock worth $468,997,000 after purchasing an additional 203,474 shares in the last quarter. Daiwa Securities Group Inc. increased 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 worth $424,922,000 after purchasing an additional 1,168,113 shares during the period. Finally, Invesco Ltd. increased 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 worth $370,227,000 after purchasing an additional 877,491 shares during the period. 96.79% of the stock is currently owned by institutional investors.

Invitation Home Stock Performance

Shares of NYSE:INVH opened at $29.77 on Friday. The company has a market capitalization of $17.68 billion, a price-to-earnings ratio of 31.33, a price-to-earnings-growth ratio of 3.49 and a beta of 0.84. Invitation Home has a 52 week low of $24.25 and a 52 week high of $32.27. 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 firm has a 50 day moving average of $29.55 and a 200 day moving average of $27.58.

Invitation Home (NYSE:INVH - Get Free Report) last posted its earnings results on Wednesday, April 29th. The company reported $0.26 earnings per share for the quarter, topping analysts' consensus estimates of $0.18 by $0.08. The company had revenue of $579.00 million during the quarter, compared to analyst estimates of $689.91 million. Invitation Home had a return on equity of 6.29% and a net margin of 20.88%.Invitation Home's revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.48 earnings per share. Invitation Home has set its FY 2026 guidance at 1.900-1.980 EPS. On average, sell-side analysts predict that Invitation Home will post 1.89 earnings per share for the current fiscal year.

Invitation Home Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Thursday, June 25th were paid 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 126.32%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Wall Street Zen raised Invitation Home from a "sell" rating to a "hold" rating in a research report on Saturday, April 25th. Weiss Ratings raised Invitation Home from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, June 1st. UBS Group raised their price target on Invitation Home from $32.00 to $35.00 and gave the company a "buy" rating in a research note on Wednesday, July 8th. Evercore restated an "outperform" rating and issued a $32.00 price objective on shares of Invitation Home in a report on Friday, May 1st. Finally, Royal Bank Of Canada upped their price objective on shares of Invitation Home from $28.00 to $30.00 and gave the stock a "sector perform" rating in a research note on Friday, May 1st. Ten equities 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 company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $32.47.

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.

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