Invitation Home (NYSE:INVH) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund reduced its stake in shares of Invitation Home (NYSE:INVH - Free Report) by 7.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 306,844 shares of the company's stock after selling 23,172 shares during the quarter. New York State Common Retirement Fund owned 0.05% of Invitation Home worth $10,694,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Cohen & Steers Inc. increased its stake in shares of Invitation Home by 1.7% during the fourth quarter. Cohen & Steers Inc. now owns 61,645,138 shares of the company's stock worth $1,970,744,000 after purchasing an additional 1,019,377 shares in the last quarter. Norges Bank purchased a new stake in Invitation Home during the 4th quarter worth approximately $1,646,794,000. Geode Capital Management LLC raised its holdings in shares of Invitation Home by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 15,059,390 shares of the company's stock valued at $480,276,000 after acquiring an additional 365,954 shares during the last quarter. Centersquare Investment Management LLC lifted its position in shares of Invitation Home by 42.9% in the fourth quarter. Centersquare Investment Management LLC now owns 12,898,533 shares of the company's stock valued at $412,366,000 after acquiring an additional 3,870,432 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Invitation Home by 74.1% in the 4th quarter. JPMorgan Chase & Co. now owns 10,949,043 shares of the company's stock valued at $350,041,000 after purchasing an additional 4,661,213 shares during the last quarter. 96.79% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Invitation Home news, CEO Dallas B. Tanner sold 148,749 shares of the company's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $33.41, for a total value of $4,969,704.09. Following the transaction, the chief executive officer directly owned 642,973 shares of the company's stock, valued at $21,481,727.93. This represents a 18.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.29% of the stock is owned by corporate insiders.

Invitation Home Price Performance

Invitation Home stock traded up $0.56 during mid-day trading on Tuesday, hitting $32.62. 2,942,493 shares of the company were exchanged, compared to its average volume of 3,388,749. The company has a market capitalization of $20.00 billion, a P/E ratio of 42.37, a PEG ratio of 2.39 and a beta of 0.80. 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 current ratio of 0.02 and a quick ratio of 0.02. The business's 50 day simple moving average is $33.12 and its two-hundred day simple moving average is $32.85.

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

Invitation Home Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, June 26th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 3.56%. The ex-dividend date was Thursday, June 26th. Invitation Home's dividend payout ratio (DPR) is presently 150.65%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. The Goldman Sachs Group increased their price objective on Invitation Home from $39.00 to $43.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Raymond James Financial upped their price target on Invitation Home from $36.00 to $39.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. Oppenheimer boosted their target price 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. Scotiabank upped their price target on Invitation Home from $36.00 to $38.00 and gave the company a "sector perform" rating in a report on Monday, May 12th. Finally, Citigroup raised Invitation Home from a "neutral" rating to a "buy" rating and boosted their target price for the company from $35.00 to $38.50 in a report on Friday, June 6th. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target 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.