Principal Financial Group Inc. Sells 373,807 Shares of Invitation Home (NYSE:INVH)

Principal Financial Group Inc. trimmed its holdings in shares of Invitation Home (NYSE:INVH - Free Report) by 1.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,086,441 shares of the company's stock after selling 373,807 shares during the quarter. Principal Financial Group Inc. owned 3.11% of Invitation Home worth $665,162,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Assetmark Inc. increased its position in shares of Invitation Home by 179.5% during the fourth quarter. Assetmark Inc. now owns 3,650 shares of the company's stock valued at $117,000 after acquiring an additional 2,344 shares during the last quarter. Toronto Dominion Bank increased its position in shares of Invitation Home by 6.6% during the fourth quarter. Toronto Dominion Bank now owns 306,352 shares of the company's stock valued at $9,794,000 after acquiring an additional 19,084 shares during the last quarter. Capital World Investors purchased a new stake in shares of Invitation Home during the fourth quarter valued at approximately $4,891,000. Charles Schwab Investment Management Inc. increased its position in shares of Invitation Home by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,598,451 shares of the company's stock valued at $210,952,000 after acquiring an additional 31,184 shares during the last quarter. Finally, OFI Invest Asset Management purchased a new stake in shares of Invitation Home during the fourth quarter valued at approximately $595,000. 96.79% of the stock is owned by hedge funds and other institutional investors.

Invitation Home Price Performance

NYSE:INVH traded up $0.11 during trading hours on Thursday, hitting $32.62. 1,808,219 shares of the company's stock traded hands, compared to its average volume of 3,411,630. The firm has a market cap of $19.99 billion, a P/E ratio of 17.20, a P/E/G ratio of 3.23 and a beta of 0.80. Invitation Home has a 52 week low of $29.37 and a 52 week high of $37.80. The business's fifty day simple moving average is $33.72 and its two-hundred day simple moving average is $32.83. The company has a quick ratio of 0.02, a current ratio of 0.02 and a debt-to-equity ratio of 0.46.

Invitation Home (NYSE:INVH - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.01. The company had revenue of $674.48 million during the quarter, compared to analyst estimates of $663.77 million. Invitation Home had a return on equity of 4.82% and a net margin of 18.01%. The firm's quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the company earned $0.47 earnings per share. On average, research analysts anticipate that Invitation Home will post 1.83 earnings per share for the current fiscal year.

Invitation Home Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, June 26th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 3.56%. The ex-dividend date is Thursday, June 26th. Invitation Home's dividend payout ratio is 150.65%.

Insider Transactions at Invitation Home

In related news, CEO Dallas B. Tanner sold 148,749 shares of Invitation Home stock in a transaction on 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 sale, the chief executive officer owned 642,973 shares of the company's stock, 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 is accessible through the SEC website. Corporate insiders own 0.29% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on INVH. Royal Bank Of Canada raised their target price on Invitation Home from $35.00 to $36.00 and gave the stock a "sector perform" rating in a research report on Friday, May 2nd. Barclays raised their target price on Invitation Home from $37.00 to $39.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Keefe, Bruyette & Woods raised their target price on Invitation Home from $36.00 to $37.00 and gave the stock a "market perform" rating in a research report on Monday, May 5th. Oppenheimer raised their target price on Invitation Home from $39.00 to $41.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. Finally, The Goldman Sachs Group raised their target price on Invitation Home from $39.00 to $43.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus 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.