Invitation Homes Inc. Plans Quarterly Dividend of $0.29 (NYSE:INVH)

Invitation Homes Inc. (NYSE:INVH - Get Free Report) announced a quarterly dividend on Friday, June 13th, RTT News reports. Investors of record on Thursday, June 26th will be given a dividend of 0.29 per share on Friday, July 18th. This represents a $1.16 annualized dividend and a dividend yield of 3.46%.

Invitation Homes has a dividend payout ratio of 136.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Invitation Homes to earn $1.89 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 61.4%.

Invitation Homes Stock Down 0.6%

Shares of NYSE:INVH traded down $0.21 during midday trading on Friday, hitting $33.52. 3,574,638 shares of the stock were exchanged, compared to its average volume of 3,397,352. The company has a market capitalization of $20.55 billion, a PE ratio of 47.21, a P/E/G ratio of 4.70 and a beta of 0.82. Invitation Homes has a 52-week low of $29.37 and a 52-week high of $37.80. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.24 and a current ratio of 0.24. The business's fifty day simple moving average is $33.59 and its two-hundred day simple moving average is $32.87.

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

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Raymond James boosted their target price on shares of Invitation Homes from $36.00 to $39.00 and gave the stock an "outperform" rating in a research report on Friday, May 9th. Scotiabank increased their target price on shares of Invitation Homes from $36.00 to $38.00 and gave the stock a "sector perform" rating in a research report on Monday, May 12th. The Goldman Sachs Group boosted their price target on Invitation Homes from $39.00 to $43.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Oppenheimer increased their price objective on Invitation Homes from $39.00 to $41.00 and gave the company an "outperform" rating in a report on Tuesday, May 6th. Finally, Royal Bank of Canada boosted their target price on Invitation Homes from $35.00 to $36.00 and gave the stock a "sector perform" rating in a report on Friday, May 2nd. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Invitation Homes has a consensus rating of "Moderate Buy" and a consensus price target of $37.97.

Hedge Funds Weigh In On Invitation Homes

An institutional investor recently raised its position in Invitation Homes stock. Empowered Funds LLC grew its position in Invitation Homes Inc. (NYSE:INVH - Free Report) by 10.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,324 shares of the company's stock after acquiring an additional 1,290 shares during the quarter. Empowered Funds LLC's holdings in Invitation Homes were worth $464,000 as of its most recent SEC filing. Institutional investors own 96.79% of the company's stock.

Invitation Homes 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.