Penn Capital Management Co. Inc. lifted its position in Invitation Homes Inc (NYSE:INVH) by 182.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 130,476 shares of the company’s stock after acquiring an additional 84,349 shares during the quarter. Penn Capital Management Co. Inc.’s holdings in Invitation Homes were worth $3,174,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cohen & Steers Inc. boosted its position in Invitation Homes by 11.8% during the fourth quarter. Cohen & Steers Inc. now owns 38,017,950 shares of the company’s stock worth $763,400,000 after purchasing an additional 4,011,363 shares during the period. BlackRock Inc. boosted its position in Invitation Homes by 1.3% during the fourth quarter. BlackRock Inc. now owns 25,602,737 shares of the company’s stock worth $514,104,000 after purchasing an additional 327,620 shares during the period. Daiwa Securities Group Inc. boosted its position in Invitation Homes by 19.5% during the first quarter. Daiwa Securities Group Inc. now owns 13,349,812 shares of the company’s stock worth $324,801,000 after purchasing an additional 2,174,523 shares during the period. Zimmer Partners LP boosted its position in Invitation Homes by 58.2% during the fourth quarter. Zimmer Partners LP now owns 7,874,801 shares of the company’s stock worth $158,126,000 after purchasing an additional 2,896,804 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Invitation Homes by 11.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,014,865 shares of the company’s stock worth $80,618,000 after purchasing an additional 413,086 shares during the period.
In related news, major shareholder Real Estate Partner Blackstone sold 40,000,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $23.22, for a total value of $928,800,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Barry S. Sternlicht sold 3,000,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $23.22, for a total transaction of $69,660,000.00. Following the completion of the sale, the director now directly owns 5,482 shares in the company, valued at $127,292.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,029,925 shares of company stock worth $999,203,038. Insiders own 0.25% of the company’s stock.
Shares of Invitation Homes stock opened at $25.35 on Monday. Invitation Homes Inc has a 12-month low of $19.21 and a 12-month high of $25.38. The stock has a market capitalization of $13.31 billion, a PE ratio of 110.22, a PEG ratio of 3.37 and a beta of 0.54. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.12.
Invitation Homes (NYSE:INVH) last announced its quarterly earnings results on Monday, May 6th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.26). Invitation Homes had a return on equity of 1.10% and a net margin of 1.89%. The firm had revenue of $435.50 million during the quarter, compared to analysts’ expectations of $434.60 million. During the same period in the previous year, the company posted $0.29 earnings per share. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, analysts anticipate that Invitation Homes Inc will post 1.25 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Tuesday, May 14th. Invitation Homes’s payout ratio is 226.09%.
A number of brokerages have weighed in on INVH. Raymond James increased their target price on shares of Invitation Homes from $27.00 to $30.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, May 15th. BTIG Research set a $27.00 target price on shares of Invitation Homes and gave the stock a “buy” rating in a research report on Tuesday, May 14th. TheStreet upgraded shares of Invitation Homes from a “d+” rating to a “c-” rating in a research report on Wednesday, March 13th. Finally, Zacks Investment Research raised shares of Invitation Homes from a “sell” rating to a “hold” rating in a report on Friday, January 25th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $26.13.
About Invitation Homes
Invitation Homes is a leading owner and operator of single-family rental homes, offering residents high-quality homes across America. With over 80,000 homes for lease in 17 markets across the country, Invitation Homes is meeting changing lifestyle demands by providing residents access to updated homes with features they value, such as close proximity to jobs and access to good schools.
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