Invitation Homes $INVH Stock Sold by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group cut its Invitation Homes stake by 5.2%, selling 117,538 shares in the third quarter; it still held about 2.12 million shares worth $55.9 million.
• Institutional investors own 96.79% of the company’s stock. Analysts’ consensus rating is “Hold,” with an average price target of $32.
• Invitation Homes beat quarterly EPS expectations ($0.27 versus $0.18), while revenue came in below estimates at $731.28 million; its annualized dividend is $1.20 per share, a 4.5% yield.

Sumitomo Mitsui Trust Group Inc. reduced its position in shares of Invitation Homes (NYSE:INVH - Free Report) by 5.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,123,454 shares of the company's stock after selling 117,538 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.36% of Invitation Homes worth $55,911,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. purchased a new position in shares of Invitation Homes during the second quarter valued at approximately $1,866,973,000. Dimensional Fund Advisors LP grew its stake in Invitation Homes by 1.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,379,282 shares of the company's stock worth $208,225,000 after acquiring an additional 132,006 shares during the period. Deutsche Bank AG purchased a new stake in Invitation Homes in the 2nd quarter worth approximately $193,539,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Invitation Homes by 74,699.5% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,971,242 shares of the company's stock worth $180,391,000 after acquiring an additional 5,963,259 shares during the period. Finally, Legal & General Group Plc acquired a new position in Invitation Homes in the 2nd quarter valued at $140,427,000. 96.79% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Scotiabank reduced their price target on Invitation Homes from $30.00 to $28.00 and set a "sector perform" rating on the stock in a research note on Thursday, September 17th. BTIG Research set a $32.00 price objective on Invitation Homes in a research report on Monday, September 21st. Jefferies Financial Group upgraded Invitation Homes to a "hold" rating in a research note on Wednesday, July 22nd. Barclays dropped their target price on Invitation Homes from $36.00 to $35.00 and set an "overweight" rating for the company in a research note on Wednesday, October 14th. Finally, Oppenheimer increased 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. Eleven equities research analysts have rated the stock with a Buy rating, nine have issued 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 an average target price of $32.00.

Invitation Homes Stock Down 1.1%

Shares of Invitation Homes stock opened at $26.57 on Wednesday. The stock has a market cap of $15.31 billion, a price-to-earnings ratio of 13.77, a price-to-earnings-growth ratio of 4.00 and a beta of 0.81. The company has a current ratio of 0.01, a quick ratio of 0.01 and a debt-to-equity ratio of 0.40. Invitation Homes has a twelve month low of $24.25 and a twelve month high of $30.89. The company has a fifty day moving average price of $27.31 and a 200 day moving average price of $27.79.

Invitation Homes (NYSE:INVH - Get Free Report) last released its quarterly earnings results on Wednesday, October 28th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.47 EPS. Equities research analysts forecast that Invitation Homes will post 1.90 earnings per share for the current fiscal year.

Invitation Homes Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Thursday, September 24th were issued 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 4.5%. Invitation Homes's dividend payout ratio is 105.26%.

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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