Victory Capital Management Inc. Trims Stock Holdings in Invitation Home (NYSE:INVH)

Key Points

• Victory Capital Management Inc. reduced its stake in Invitation Home (NYSE:INVH) by 22.6%, selling 53,954 shares during the first quarter and holding a total of 185,098 shares valued at approximately $6.45 million.
• Invitation Home reported a quarterly earnings per share (EPS) of $0.48, exceeding analysts' expectations of $0.47, with a total revenue of $674.48 million for the quarter.
• The company announced a quarterly dividend of $0.29 per share, translating to an annualized yield of 3.64%, despite a high payout ratio of 150.65%.

Victory Capital Management Inc. cut its holdings in shares of Invitation Home (NYSE:INVH - Free Report) by 22.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 185,098 shares of the company's stock after selling 53,954 shares during the period. Victory Capital Management Inc.'s holdings in Invitation Home were worth $6,451,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Larson Financial Group LLC lifted its stake in shares of Invitation Home by 1,313.8% in the 1st quarter. Larson Financial Group LLC now owns 919 shares of the company's stock valued at $32,000 after acquiring an additional 854 shares during the last quarter. North Capital Inc. bought a new position in shares of Invitation Home in the 1st quarter valued at $41,000. NBC Securities Inc. lifted its stake in shares of Invitation Home by 99,700.0% in the 1st quarter. NBC Securities Inc. now owns 1,996 shares of the company's stock valued at $69,000 after acquiring an additional 1,994 shares during the last quarter. Wealthquest Corp bought a new position in shares of Invitation Home in the 1st quarter valued at $70,000. Finally, Opal Wealth Advisors LLC bought a new position in shares of Invitation Home in the 1st quarter valued at $86,000. 96.79% of the stock is currently owned by institutional investors.

Insider Activity at Invitation Home

In other Invitation Home news, CEO Dallas B. Tanner sold 148,749 shares of Invitation Home stock in a transaction that occurred 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 transaction, the chief executive officer owned 642,973 shares of the company's stock, valued at $21,481,727.93. This trade represents a 18.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is currently owned by corporate insiders.

Invitation Home Stock Down 0.7%

Shares of INVH traded down $0.22 during trading hours on Friday, hitting $31.91. The stock had a trading volume of 3,959,877 shares, compared to its average volume of 2,901,988. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.02 and a quick ratio of 0.02. The firm has a 50 day simple moving average of $33.01 and a 200-day simple moving average of $32.86. The firm has a market capitalization of $19.56 billion, a P/E ratio of 16.88, a price-to-earnings-growth ratio of 2.38 and a beta of 0.80. Invitation Home has a 1-year low of $29.37 and a 1-year high of $37.80.

Invitation Home (NYSE:INVH - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.01. Invitation Home had a net margin of 18.01% and a return on equity of 4.82%. The business had revenue of $674.48 million for the quarter, compared to analysts' expectations of $663.77 million. During the same quarter last year, the firm earned $0.47 EPS. The firm's revenue for the quarter was up 4.4% compared to the same quarter last year. Sell-side 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. Shareholders of record on Thursday, June 26th were given a dividend of $0.29 per share. The ex-dividend date was Thursday, June 26th. This represents a $1.16 annualized dividend and a dividend yield of 3.64%. Invitation Home's dividend payout ratio is currently 150.65%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on INVH shares. Scotiabank increased their price target on Invitation Home from $36.00 to $38.00 and gave the company a "sector perform" rating in a research note on Monday, May 12th. Oppenheimer increased their price objective on Invitation Home from $39.00 to $41.00 and gave the company an "outperform" rating in a report on Tuesday, May 6th. Royal Bank Of Canada increased their price objective on Invitation Home from $35.00 to $36.00 and gave the company a "sector perform" rating in a report on Friday, May 2nd. Keefe, Bruyette & Woods increased their price objective on Invitation Home from $36.00 to $37.00 and gave the company a "market perform" rating in a report on Monday, May 5th. Finally, Raymond James Financial increased their price objective on Invitation Home from $36.00 to $39.00 and gave the company an "outperform" rating in a report on Friday, May 9th. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, Invitation Home presently has a consensus rating of "Moderate Buy" and a consensus target price 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.