PNC Financial Services Group Inc. Sells 350,262 Shares of Invitation Home $INVH

Key Points

• PNC Financial Services cut its Invitation Homes stake by 72.1%, selling 350,262 shares and retaining 135,338 shares valued at approximately $3.36 million. Institutional investors collectively own 96.79% of INVH.
• Analyst sentiment is broadly neutral, with 10 Buy, 10 Hold, and one Sell rating. The stock has an average “Hold” rating and a consensus price target of $32.47, compared with an opening price of $30.08.
• Invitation Homes reported quarterly EPS of $0.26, beating estimates of $0.18, while revenue rose 8.8% year over year. The company also declared a quarterly dividend of $0.30 per share, representing a 4.0% annualized yield.

PNC Financial Services Group Inc. cut its position in shares of Invitation Home (NYSE:INVH - Free Report) by 72.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 135,338 shares of the company's stock after selling 350,262 shares during the period. PNC Financial Services Group Inc.'s holdings in Invitation Home were worth $3,363,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in INVH. Cromwell Holdings LLC raised its position in Invitation Home by 2,463.5% in the 4th quarter. Cromwell Holdings LLC now owns 1,333 shares of the company's stock worth $37,000 after purchasing an additional 1,281 shares during the period. Caitong International Asset Management Co. Ltd raised its holdings in shares of Invitation Home by 136,000.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 1,361 shares of the company's stock worth $40,000 after buying an additional 1,360 shares during the period. Prosperity Bancshares Inc bought a new stake in shares of Invitation Home during the 4th quarter worth approximately $42,000. AdvisorNet Financial Inc lifted its stake in shares of Invitation Home by 7,687.5% during the 1st quarter. AdvisorNet Financial Inc now owns 1,869 shares of the company's stock worth $46,000 after acquiring an additional 1,845 shares during the last quarter. Finally, Aventus Investment Advisors Inc. purchased a new position in Invitation Home during the 1st quarter valued at $50,000. 96.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on INVH shares. Wall Street Zen raised Invitation Home from a "sell" rating to a "hold" rating in a research report on Saturday, April 25th. Cfra downgraded Invitation Home from a "hold" rating to a "sell" rating and decreased their target price for the stock from $29.00 to $27.00 in a research report on Wednesday, May 27th. Raymond James Financial raised shares of Invitation Home from a "market perform" rating to an "outperform" rating and set a $32.00 target price for the company in a research note on Monday, May 18th. Keefe, Bruyette & Woods upped their price target on shares of Invitation Home from $28.00 to $29.00 and gave the stock a "market perform" rating in a report on Monday, May 4th. Finally, BMO Capital Markets raised their price target on shares of Invitation Home from $32.00 to $35.00 and gave the stock a "market perform" rating in a research note on Monday, June 15th. Ten investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Invitation Home has an average rating of "Hold" and an average price target of $32.47.

Invitation Home Stock Up 1.5%

Shares of NYSE INVH opened at $30.08 on Wednesday. Invitation Home has a 52-week low of $24.25 and a 52-week high of $32.04. The firm has a market capitalization of $17.87 billion, a price-to-earnings ratio of 31.66, a PEG ratio of 3.47 and a beta of 0.84. The stock has a 50 day moving average price of $29.59 and a 200 day moving average price of $27.61. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.02 and a current ratio of 0.02.

Invitation Home (NYSE:INVH - Get Free Report) last issued its earnings results on Wednesday, April 29th. The company reported $0.26 earnings per share for the quarter, beating analysts' consensus estimates of $0.18 by $0.08. Invitation Home had a return on equity of 6.29% and a net margin of 20.88%.The business had revenue of $579.00 million during the quarter, compared to analyst estimates of $689.91 million. During the same period in the previous year, the company posted $0.48 EPS. Invitation Home's revenue was up 8.8% on a year-over-year basis. Sell-side analysts expect that Invitation Home will post 1.89 earnings per share for the current year.

Invitation Home Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Thursday, June 25th were paid a dividend of $0.30 per share. The ex-dividend date was Thursday, June 25th. This represents a $1.20 annualized dividend and a dividend yield of 4.0%. Invitation Home's dividend payout ratio (DPR) is currently 126.32%.

Invitation Home Company Profile

Invitation Homes NYSE: INVH is a real estate investment trust that specializes in the ownership, operation and leasing of single-family rental homes across the United States. The company focuses on acquiring suburban and urban-adjacent single-family residences and managing them as rental properties for households seeking professionally managed, long-term housing alternatives to traditional homeownership or multifamily rentals.

Operationally, Invitation Homes is involved in the full lifecycle of the single-family rental business: sourcing and acquiring homes, performing renovations and ongoing maintenance, marketing and leasing properties, and providing property management and resident services.

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