State of New Jersey Common Pension Fund D Decreases Stake in Invitation Home $INVH

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Invitation Home by 3.8%, selling 25,513 shares and retaining 642,920 shares valued at approximately $22.4 million.
• Invitation Home announced a $0.29 quarterly dividend, which contributes to an annualized yield of 3.8%, despite a payout ratio of 131.82%.
• Analysts have varying ratings on Invitation Home, with an average target price of $37.53, and Citigroup upgraded the stock from "neutral" to "buy", raising its price target to $38.50.

State of New Jersey Common Pension Fund D lowered its stake in shares of Invitation Home (NYSE:INVH - Free Report) by 3.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 642,920 shares of the company's stock after selling 25,513 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.10% of Invitation Home worth $22,406,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in INVH. Vanguard Group Inc. boosted its holdings in Invitation Home by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 94,306,901 shares of the company's stock valued at $3,286,595,000 after purchasing an additional 829,212 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Invitation Home by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 8,827,708 shares of the company's stock valued at $282,221,000 after purchasing an additional 33,235 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Invitation Home by 27.3% during the 4th quarter. Northern Trust Corp now owns 6,820,769 shares of the company's stock worth $218,060,000 after acquiring an additional 1,463,236 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Invitation Home by 1.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,664,294 shares of the company's stock worth $232,251,000 after acquiring an additional 65,843 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Invitation Home during the 1st quarter worth approximately $148,870,000. Hedge funds and other institutional investors own 96.79% of the company's stock.

Invitation Home Trading Down 1.9%

INVH traded down $0.57 during trading on Monday, hitting $29.98. The company's stock had a trading volume of 3,451,863 shares, compared to its average volume of 3,938,231. The firm's 50 day moving average price is $32.07 and its 200-day moving average price is $32.85. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.02 and a quick ratio of 0.02. The stock has a market cap of $18.37 billion, a PE ratio of 34.06, a PEG ratio of 3.13 and a beta of 0.78. Invitation Home has a twelve month low of $29.37 and a twelve month high of $37.80.

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

Invitation Home Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, June 26th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Thursday, June 26th. Invitation Home's dividend payout ratio is 131.82%.

Analyst Upgrades and Downgrades

INVH has been the topic of several research analyst reports. Raymond James Financial boosted their price target on Invitation Home from $36.00 to $39.00 and gave the stock an "outperform" rating in a research note on Friday, May 9th. Scotiabank boosted their price target on Invitation Home from $36.00 to $38.00 and gave the stock a "sector perform" rating in a research note on Monday, May 12th. Barclays decreased their price target on Invitation Home from $40.00 to $37.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 12th. The Goldman Sachs Group boosted their price target on Invitation Home from $39.00 to $43.00 and gave the stock a "buy" rating in a research note on Tuesday, May 6th. Finally, Keefe, Bruyette & Woods cut their price objective on Invitation Home from $37.00 to $33.00 and set a "market perform" rating for the company in a research report on Wednesday, August 6th. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Invitation Home currently has a consensus rating of "Hold" and an average target price of $37.26.

Insiders Place Their Bets

In related news, CEO Dallas B. Tanner sold 148,749 shares of the company's stock in a transaction on 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 completion of the sale, the chief executive officer directly owned 642,973 shares of the company's stock, 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 Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.29% of the company's stock.

Invitation Home Company 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.