Invitation Home (NYSE:INVH) Shares Sold by Centersquare Investment Management LLC

Key Points

• Centersquare Investment Management LLC has reduced its stake in Invitation Home (NYSE:INVH) by 15.9%, now holding approximately 10.85 million shares worth $378.23 million, making it the firm's 8th largest holding.
• Invitation Home recently announced a quarterly dividend of $0.29, representing an annual yield of 3.8%, although its payout ratio stands at 131.82%.
• The company reported earnings of $0.48 per share for the last quarter, matching analysts' expectations, and recorded revenue of $681.4 million, exceeding estimates by $6.39 million.

Centersquare Investment Management LLC lessened its stake in Invitation Home (NYSE:INVH - Free Report) by 15.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,853,109 shares of the company's stock after selling 2,045,424 shares during the quarter. Invitation Home comprises approximately 3.9% of Centersquare Investment Management LLC's investment portfolio, making the stock its 8th biggest holding. Centersquare Investment Management LLC owned approximately 1.77% of Invitation Home worth $378,231,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of INVH. American Assets Investment Management LLC bought a new position in Invitation Home in the first quarter valued at about $4,274,000. Avalon Trust Co bought a new stake in Invitation Home during the 1st quarter worth about $63,000. PNC Financial Services Group Inc. raised its holdings in Invitation Home by 373.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 598,782 shares of the company's stock worth $20,868,000 after purchasing an additional 472,254 shares during the last quarter. Commerce Bank lifted its position in Invitation Home by 4.2% during the 1st quarter. Commerce Bank now owns 10,197 shares of the company's stock valued at $355,000 after purchasing an additional 414 shares during the period. Finally, Wealthquest Corp bought a new position in shares of Invitation Home in the 1st quarter valued at about $70,000. 96.79% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Oppenheimer boosted their price target on shares of Invitation Home from $39.00 to $41.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. Keefe, Bruyette & Woods dropped their target price on shares of Invitation Home from $37.00 to $33.00 and set a "market perform" rating for the company in a research report on Wednesday. The Goldman Sachs Group increased their price target on Invitation Home from $39.00 to $43.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. Royal Bank Of Canada decreased their price objective on Invitation Home from $35.00 to $34.00 and set a "sector perform" rating for the company in a research note on Friday, August 1st. Finally, Barclays reissued an "overweight" rating on shares of Invitation Home in a research note on Tuesday, July 15th. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $37.64.

Insider Buying and Selling at Invitation Home

In related news, CEO Dallas B. Tanner sold 148,749 shares of the stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $33.41, for a total transaction of $4,969,704.09. Following the completion of the transaction, the chief executive officer directly owned 642,973 shares in the company, valued at approximately $21,481,727.93. This trade represents a 18.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is owned by corporate insiders.

Invitation Home Stock Down 0.8%

INVH traded down $0.25 during trading on Friday, reaching $29.97. The company had a trading volume of 2,972,222 shares, compared to its average volume of 3,296,255. The company has a market cap of $18.37 billion, a P/E ratio of 34.05, a PEG ratio of 3.10 and a beta of 0.78. 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 0.47, a current ratio of 0.02 and a quick ratio of 0.02. The business's fifty day moving average price is $32.44 and its 200 day moving average price is $32.85.

Invitation Home (NYSE:INVH - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.48 EPS for the quarter, hitting analysts' consensus estimates of $0.48. The business had revenue of $681.40 million for the quarter, compared to analyst estimates of $675.01 million. Invitation Home had a net margin of 20.36% and a return on equity of 5.56%. The firm's quarterly revenue was up 4.3% on a year-over-year basis. During the same period last year, the business posted $0.47 earnings per share. Equities analysts anticipate that Invitation Home will post 1.83 EPS for the current year.

Invitation Home Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, June 26th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Thursday, June 26th. Invitation Home's dividend payout ratio is currently 131.82%.

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.