Resona Asset Management Co. Ltd. Buys 22,106 Shares of Invitation Home $INVH

Key Points

• Resona Asset Management Co. Ltd. has increased its stake in Invitation Home (NYSE: INVH) by 6.9%, now owning approximately 0.06% of the company with a total of 340,608 shares worth about $11.77 million.
• Invitation Home's recent quarterly earnings report showed earnings per share (EPS) of $0.48, matching analyst expectations, and a revenue of $681.40 million, which exceeded estimates.
• The firm declared a $0.29 quarterly dividend, representing an annual yield of 3.8%, although it has a dividend payout ratio (DPR) of 131.82%.

Resona Asset Management Co. Ltd. raised its position in Invitation Home (NYSE:INVH - Free Report) by 6.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 340,608 shares of the company's stock after purchasing an additional 22,106 shares during the period. Resona Asset Management Co. Ltd. owned 0.06% of Invitation Home worth $11,773,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in INVH. Raymond James Financial Inc. bought a new position in Invitation Home in the 4th quarter worth about $7,251,000. Canada Post Corp Registered Pension Plan purchased a new stake in Invitation Home in the fourth quarter valued at approximately $249,000. Marshall Wace LLP bought a new stake in Invitation Home during the fourth quarter valued at approximately $7,007,000. Investure LLC grew its stake in Invitation Home by 23.8% in the 4th quarter. Investure LLC now owns 649,916 shares of the company's stock worth $20,778,000 after buying an additional 125,016 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its holdings in shares of Invitation Home by 3.3% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,009,979 shares of the company's stock worth $32,267,000 after buying an additional 32,230 shares during the last quarter. 96.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Invitation Home

In related news, CEO Dallas B. Tanner sold 148,749 shares of the company's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $33.41, for a total transaction of $4,969,704.09. Following the transaction, the chief executive officer directly owned 642,973 shares in the company, valued at approximately $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 accessible through this hyperlink. Corporate insiders own 0.29% of the company's stock.

Invitation Home Trading Down 1.4%

Shares of NYSE:INVH traded down $0.43 during trading on Monday, reaching $30.12. The company's stock had a trading volume of 1,159,747 shares, compared to its average volume of 3,300,041. The stock has a market capitalization of $18.46 billion, a PE ratio of 34.25, a price-to-earnings-growth ratio of 3.13 and a beta of 0.78. Invitation Home has a 12 month low of $29.37 and a 12 month high of $37.80. The company has a current ratio of 0.02, a quick ratio of 0.02 and a debt-to-equity ratio of 0.47. The firm's 50 day simple moving average is $32.14 and its two-hundred day simple moving average is $32.86.

Invitation Home (NYSE:INVH - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.48 EPS for the quarter, hitting analysts' consensus estimates of $0.48. Invitation Home had a return on equity of 5.56% and a net margin of 20.36%. The firm had revenue of $681.40 million during the quarter, compared to analysts' expectations of $675.01 million. During the same quarter in the previous year, the business earned $0.47 EPS. The company's quarterly revenue was up 4.3% on a year-over-year basis. On average, research analysts predict that Invitation Home will post 1.83 EPS for the current fiscal year.

Invitation Home Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, June 26th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Thursday, June 26th. Invitation Home's dividend payout ratio (DPR) is 131.82%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Oppenheimer increased their target price on Invitation Home from $39.00 to $41.00 and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Citigroup upgraded Invitation Home from a "neutral" rating to a "buy" rating and increased their price objective for the company from $35.00 to $38.50 in a research report on Friday, June 6th. The Goldman Sachs Group boosted 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. Keefe, Bruyette & Woods reduced their price target on shares of Invitation Home from $37.00 to $33.00 and set a "market perform" rating on the stock in a research report on Wednesday, August 6th. Finally, Scotiabank lifted their price target on shares of Invitation Home from $36.00 to $38.00 and gave the stock a "sector perform" rating in a research note on Monday, May 12th. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $37.26.

Invitation Home Profile

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.