Illinois Municipal Retirement Fund Increases Stock Holdings in Invitation Home (NYSE:INVH)

Illinois Municipal Retirement Fund lifted its stake in shares of Invitation Home (NYSE:INVH - Free Report) by 62.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 222,046 shares of the company's stock after purchasing an additional 85,169 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Invitation Home were worth $7,738,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in INVH. Norges Bank bought a new position in shares of Invitation Home in the fourth quarter valued at $1,646,794,000. JPMorgan Chase & Co. raised its holdings in shares of Invitation Home by 74.1% in the 4th quarter. JPMorgan Chase & Co. now owns 10,949,043 shares of the company's stock worth $350,041,000 after acquiring an additional 4,661,213 shares during the last quarter. Centersquare Investment Management LLC raised its holdings in shares of Invitation Home by 42.9% in the 4th quarter. Centersquare Investment Management LLC now owns 12,898,533 shares of the company's stock worth $412,366,000 after acquiring an additional 3,870,432 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Invitation Home in the 4th quarter valued at about $67,743,000. Finally, Northern Trust Corp boosted its stake in Invitation Home by 27.3% during the 4th quarter. Northern Trust Corp now owns 6,820,769 shares of the company's stock valued at $218,060,000 after purchasing an additional 1,463,236 shares during the last quarter. 96.79% of the stock is currently owned by institutional investors and hedge funds.

Invitation Home Stock Performance

NYSE:INVH traded down $0.32 during trading hours on Wednesday, reaching $32.47. The stock had a trading volume of 2,090,956 shares, compared to its average volume of 3,408,985. Invitation Home has a 12-month low of $29.37 and a 12-month high of $37.80. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.02 and a current ratio of 0.02. The stock has a 50 day simple moving average of $33.75 and a 200 day simple moving average of $32.83. The stock has a market cap of $19.90 billion, a P/E ratio of 42.19, a price-to-earnings-growth ratio of 3.26 and a beta of 0.80.

Invitation Home (NYSE:INVH - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.47 by $0.01. The business had revenue of $674.48 million for the quarter, compared to the consensus estimate of $663.77 million. Invitation Home had a net margin of 18.01% and a return on equity of 4.82%. The company's revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.47 earnings per share. On average, research analysts forecast that Invitation Home will post 1.83 EPS for the current fiscal year.

Invitation Home Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, June 26th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.57%. The ex-dividend date is Thursday, June 26th. Invitation Home's dividend payout ratio (DPR) is presently 150.65%.

Insiders Place Their Bets

In other Invitation Home news, CEO Dallas B. Tanner sold 148,749 shares of the business's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $33.41, for a total transaction of $4,969,704.09. Following the sale, the chief executive officer owned 642,973 shares of the company's stock, valued at $21,481,727.93. The trade was a 18.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.29% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on INVH shares. Citigroup raised Invitation Home from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $35.00 to $38.50 in a research note on Friday, June 6th. The Goldman Sachs Group raised their price objective on Invitation Home from $39.00 to $43.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. Keefe, Bruyette & Woods lifted their price objective on shares of Invitation Home from $36.00 to $37.00 and gave the stock a "market perform" rating in a report on Monday, May 5th. Raymond James Financial increased their target price on shares of Invitation Home from $36.00 to $39.00 and gave the company an "outperform" rating in a report on Friday, May 9th. Finally, Scotiabank raised their price target on shares of Invitation Home from $36.00 to $38.00 and gave the company a "sector perform" rating in a research report on Monday, May 12th. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Invitation Home presently has an average rating of "Moderate Buy" and a consensus target price of $37.97.

About Invitation Home

Invitation Homes, an S&P 500 company, is the nation's premier single-family home leasing and management company, meeting changing lifestyle demands by providing access to high-quality, updated homes with valued features such as close proximity to jobs and access to good schools. The company's mission, Together with you, we make a house a home, reflects its commitment to providing homes where individuals and families can thrive and high-touch service that continuously enhances residents' living experiences.