Park Avenue Securities LLC Trims Holdings in Invitation Homes Inc. (NYSE:INVH)

Park Avenue Securities LLC lowered its stake in shares of Invitation Homes Inc. (NYSE:INVH) by 27.7% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 12,752 shares of the company’s stock after selling 4,878 shares during the period. Park Avenue Securities LLC’s holdings in Invitation Homes were worth $454,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in INVH. Cohen & Steers Inc. grew its stake in shares of Invitation Homes by 1.3% in the fourth quarter. Cohen & Steers Inc. now owns 80,498,790 shares of the company’s stock valued at $2,746,208,000 after buying an additional 1,008,392 shares in the last quarter. Norges Bank acquired a new position in Invitation Homes in the 4th quarter valued at about $1,346,883,000. Principal Financial Group Inc. lifted its position in shares of Invitation Homes by 0.7% during the fourth quarter. Principal Financial Group Inc. now owns 20,923,484 shares of the company’s stock worth $713,700,000 after purchasing an additional 147,050 shares in the last quarter. Morgan Stanley lifted its position in shares of Invitation Homes by 19.5% during the third quarter. Morgan Stanley now owns 8,993,919 shares of the company’s stock worth $285,017,000 after purchasing an additional 1,466,330 shares in the last quarter. Finally, Centersquare Investment Management LLC boosted its stake in shares of Invitation Homes by 7.1% in the fourth quarter. Centersquare Investment Management LLC now owns 8,167,642 shares of the company’s stock valued at $278,598,000 after purchasing an additional 538,182 shares during the period. Hedge funds and other institutional investors own 96.79% of the company’s stock.

Invitation Homes Stock Performance

Shares of INVH stock opened at $35.89 on Friday. The stock’s 50-day moving average is $34.90 and its two-hundred day moving average is $34.32. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.21 and a current ratio of 0.21. Invitation Homes Inc. has a 1 year low of $28.49 and a 1 year high of $36.53. The firm has a market cap of $21.98 billion, a price-to-earnings ratio of 41.25, a PEG ratio of 2.16 and a beta of 0.99.

Invitation Homes (NYSE:INVH) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.22). The firm had revenue of $646.04 million for the quarter, compared to analysts’ expectations of $630.97 million. Invitation Homes had a return on equity of 5.29% and a net margin of 21.75%. Analysts predict that Invitation Homes Inc. will post 1.83 earnings per share for the current year.

Invitation Homes Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 19th. Investors of record on Thursday, June 27th will be given a $0.28 dividend. The ex-dividend date is Thursday, June 27th. This represents a $1.12 annualized dividend and a yield of 3.12%. Invitation Homes’s dividend payout ratio (DPR) is 128.74%.

Insider Buying and Selling

In related news, COO Charles D. Young sold 5,000 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $34.85, for a total value of $174,250.00. Following the transaction, the chief operating officer now owns 275,296 shares in the company, valued at approximately $9,594,065.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Charles D. Young sold 5,000 shares of Invitation Homes stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $34.85, for a total value of $174,250.00. Following the transaction, the chief operating officer now directly owns 275,296 shares in the company, valued at approximately $9,594,065.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Cohen Jana Barbe sold 7,200 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $34.58, for a total transaction of $248,976.00. Following the transaction, the director now owns 28,068 shares of the company’s stock, valued at approximately $970,591.44. The disclosure for this sale can be found here. 0.28% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on INVH shares. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $38.00 target price on shares of Invitation Homes in a report on Monday, June 17th. Mizuho reduced their price objective on Invitation Homes from $37.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday, June 3rd. Raymond James boosted their target price on Invitation Homes from $37.00 to $39.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. Scotiabank increased their price target on Invitation Homes from $36.00 to $38.00 and gave the company a “sector perform” rating in a research report on Thursday, May 16th. Finally, Evercore ISI restated an “in-line” rating and set a $36.00 target price on shares of Invitation Homes in a research note on Monday, March 18th. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.00.

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.