Invitation Homes $INVH Shares Newly Acquired by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments opened a position in Invitation Homes, buying 145,009 shares worth approximately $3.82 million in the third quarter. Institutional investors collectively own 96.79% of the company’s stock.
• Invitation Homes reported quarterly EPS of $0.27, beating the $0.18 consensus estimate, while revenue of $731.28 million came in below estimates. Revenue increased 6.3% year over year.
• Shares fell 1.7% to $27.10 in Friday trading. Analysts’ consensus rating was “Hold,” with an average price target of $32.

Mirae Asset Global Investments Co. Ltd. bought a new position in Invitation Homes (NYSE:INVH - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 145,009 shares of the company's stock, valued at approximately $3,818,000.

Several other institutional investors and hedge funds also recently modified their holdings of INVH. Profund Advisors LLC grew its position in Invitation Homes by 39.7% in the third quarter. Profund Advisors LLC now owns 9,990 shares of the company's stock valued at $263,000 after acquiring an additional 2,841 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of Invitation Homes by 5.9% during the third quarter. ProShare Advisors LLC now owns 159,211 shares of the company's stock worth $4,192,000 after purchasing an additional 8,831 shares in the last quarter. Vise Technologies Inc. purchased a new position in shares of Invitation Homes in the third quarter valued at $223,000. Summit Global Investments purchased a new position in shares of Invitation Homes in the third quarter valued at $863,000. Finally, State of Wyoming acquired a new stake in Invitation Homes during the 3rd quarter valued at $379,000. Hedge funds and other institutional investors own 96.79% of the company's stock.

Invitation Homes Stock Down 1.7%

Shares of NYSE:INVH traded down $0.46 during midday trading on Friday, reaching $27.10. The company had a trading volume of 4,544,729 shares, compared to its average volume of 5,644,728. The stock has a market capitalization of $15.61 billion, a P/E ratio of 23.77, a PEG ratio of 4.00 and a beta of 0.81. The stock's fifty day moving average price is $27.17 and its 200-day moving average price is $27.79. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.01 and a quick ratio of 0.01. Invitation Homes has a one year low of $24.25 and a one year high of $30.89.

Invitation Homes (NYSE:INVH - Get Free Report) last posted its quarterly earnings data on Wednesday, October 28th. The company reported $0.27 EPS for the quarter, beating analysts' consensus estimates of $0.18 by $0.09. The firm had revenue of $731.28 million for the quarter, compared to the consensus estimate of $742.55 million. Invitation Homes had a net margin of 23.54% and a return on equity of 7.62%. The firm's revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.47 EPS. Equities research analysts expect that Invitation Homes will post 1.90 earnings per share for the current fiscal year.

Invitation Homes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Thursday, September 24th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, September 24th. This represents a $1.20 annualized dividend and a dividend yield of 4.4%. Invitation Homes's dividend payout ratio (DPR) is presently 105.26%.

Analyst Upgrades and Downgrades

INVH has been the topic of several analyst reports. BTIG Research set a $32.00 price target on shares of Invitation Homes in a research note on Monday, September 21st. JPMorgan Chase & Co. upped their price objective on shares of Invitation Homes from $33.00 to $34.00 and gave the company an "overweight" rating in a research report on Tuesday, August 25th. Scotiabank lowered their target price on Invitation Homes from $30.00 to $28.00 and set a "sector perform" rating for the company in a research note on Thursday, September 17th. Oppenheimer lifted their target price on Invitation Homes from $31.00 to $33.00 and gave the stock an "outperform" rating in a research report on Monday, August 3rd. Finally, Keefe, Bruyette & Woods boosted their price target on Invitation Homes from $29.00 to $31.00 and gave the stock a "market perform" rating in a research note on Wednesday, August 5th. Eleven investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $32.00.

About Invitation Homes

Invitation Homes Inc NYSE: INVH is a real estate investment trust that owns, leases and operates single-family homes in the United States. The company provides professionally managed rental housing for individuals and families, with properties generally located in suburban communities and metropolitan areas.

The company’s services include home leasing, property management, resident support, maintenance and renovations. Invitation Homes uses technology and centralized operating systems to market homes, manage lease agreements, collect rent and coordinate property care.

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