Royal Bank of Canada Has $26.76 Million Stock Holdings in Invitation Homes Inc. (NYSE:INVH)

Royal Bank of Canada grew its holdings in Invitation Homes Inc. (NYSE:INVH - Free Report) by 140.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 837,102 shares of the company's stock after acquiring an additional 489,367 shares during the quarter. Royal Bank of Canada owned 0.14% of Invitation Homes worth $26,762,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of INVH. Cohen & Steers Inc. lifted its position in Invitation Homes by 1.7% in the fourth quarter. Cohen & Steers Inc. now owns 61,645,138 shares of the company's stock worth $1,970,744,000 after purchasing an additional 1,019,377 shares during the period. Norges Bank bought a new position in Invitation Homes in the fourth quarter worth $1,646,794,000. Geode Capital Management LLC lifted its position in Invitation Homes by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 15,059,390 shares of the company's stock worth $480,276,000 after purchasing an additional 365,954 shares during the period. Centersquare Investment Management LLC lifted its position in Invitation Homes by 42.9% in the fourth quarter. Centersquare Investment Management LLC now owns 12,898,533 shares of the company's stock worth $412,366,000 after purchasing an additional 3,870,432 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Invitation Homes by 74.1% in the fourth quarter. JPMorgan Chase & Co. now owns 10,949,043 shares of the company's stock worth $350,041,000 after purchasing an additional 4,661,213 shares during the period. 96.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on INVH. Keefe, Bruyette & Woods raised their target price on Invitation Homes from $36.00 to $37.00 and gave the stock a "market perform" rating in a research report on Monday, May 5th. The Goldman Sachs Group raised their target price on Invitation Homes from $39.00 to $43.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Barclays raised their target price on Invitation Homes from $37.00 to $39.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Royal Bank of Canada raised their target price on Invitation Homes from $35.00 to $36.00 and gave the stock a "sector perform" rating in a research report on Friday, May 2nd. Finally, Scotiabank increased their price objective on Invitation Homes from $36.00 to $38.00 and gave the stock a "sector perform" rating in a research note on Monday, May 12th. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $37.94.

Invitation Homes Price Performance

Shares of NYSE:INVH traded down $0.14 during midday trading on Thursday, reaching $33.06. The company's stock had a trading volume of 571,505 shares, compared to its average volume of 3,355,731. Invitation Homes Inc. has a fifty-two week low of $29.37 and a fifty-two week high of $37.80. The company has a market capitalization of $20.27 billion, a P/E ratio of 46.63, a P/E/G ratio of 4.70 and a beta of 0.87. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.24 and a quick ratio of 0.24. The business's fifty day simple moving average is $33.65 and its 200-day simple moving average is $32.91.

Invitation Homes (NYSE:INVH - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.48 earnings per share for the quarter, beating analysts' consensus estimates of $0.47 by $0.01. Invitation Homes had a return on equity of 4.36% and a net margin of 17.02%. The company had revenue of $674.48 million during the quarter, compared to analyst estimates of $663.77 million. During the same period last year, the company posted $0.47 earnings per share. The firm's quarterly revenue was up 4.4% compared to the same quarter last year. As a group, equities research analysts expect that Invitation Homes Inc. will post 1.83 EPS for the current fiscal year.

Invitation Homes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 17th. Stockholders of record on Monday, March 17th were paid a $0.29 dividend. The ex-dividend date of this dividend was Thursday, March 27th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.51%. Invitation Homes's dividend payout ratio (DPR) is presently 150.65%.

Invitation Homes 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.