California State Teachers Retirement System Sells 22,740 Shares of Invitation Home $INVH

California State Teachers Retirement System lessened its holdings in shares of Invitation Home (NYSE:INVH) by 2.0% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,121,861 shares of the company’s stock after selling 22,740 shares during the quarter. California State Teachers Retirement System’s holdings in Invitation Home were worth $27,878,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Invitation Home in the fourth quarter valued at about $1,438,952,000. State Street Corp increased its holdings in shares of Invitation Home by 1.3% in the third quarter. State Street Corp now owns 36,621,403 shares of the company’s stock worth $1,084,514,000 after acquiring an additional 462,379 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Invitation Home by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 16,934,620 shares of the company’s stock worth $468,997,000 after purchasing an additional 203,474 shares during the period. Daiwa Securities Group Inc. raised its position in shares of Invitation Home by 8.8% during the third quarter. Daiwa Securities Group Inc. now owns 14,487,603 shares of the company’s stock worth $424,922,000 after purchasing an additional 1,168,113 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Invitation Home by 7.5% during the 3rd quarter. Invesco Ltd. now owns 12,622,824 shares of the company’s stock valued at $370,227,000 after purchasing an additional 877,491 shares in the last quarter. 96.79% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on INVH shares. Wells Fargo & Company upgraded Invitation Home from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $31.00 to $33.00 in a research report on Wednesday, June 24th. Weiss Ratings upgraded shares of Invitation Home from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, June 1st. Evercore reaffirmed an “outperform” rating and issued a $32.00 price target on shares of Invitation Home in a research note on Friday, May 1st. Jefferies Financial Group raised shares of Invitation Home to a “hold” rating in a research note on Wednesday, July 22nd. Finally, Wall Street Zen upgraded shares of Invitation Home from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. Ten investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Invitation Home has a consensus rating of “Hold” and an average price target of $32.47.

Invitation Home Stock Performance

INVH opened at $29.72 on Friday. The company has a market capitalization of $17.65 billion, a price-to-earnings ratio of 27.27, a P/E/G ratio of 3.48 and a beta of 0.84. The business’s 50-day moving average price is $29.63 and its two-hundred day moving average price is $27.67. Invitation Home has a 1 year low of $24.25 and a 1 year high of $31.38. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.02 and a quick ratio of 0.02.

Invitation Home (NYSE:INVH) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.08. The company had revenue of $579.00 million during the quarter, compared to analysts’ expectations of $689.91 million. Invitation Home had a return on equity of 7.22% and a net margin of 23.13%.Invitation Home’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.48 earnings per share. Equities analysts expect that Invitation Home will post 1.89 EPS for the current fiscal year.

Invitation Home Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Thursday, June 25th were paid a $0.30 dividend. The ex-dividend date was Thursday, June 25th. This represents a $1.20 annualized dividend and a yield of 4.0%. Invitation Home’s payout ratio is presently 110.09%.

Invitation Home Profile

Invitation Homes (NYSE: INVH) is a real estate investment trust that specializes in the ownership, operation and leasing of single-family rental homes across the United States. The company focuses on acquiring suburban and urban-adjacent single-family residences and managing them as rental properties for households seeking professionally managed, long-term housing alternatives to traditional homeownership or multifamily rentals.

Operationally, Invitation Homes is involved in the full lifecycle of the single-family rental business: sourcing and acquiring homes, performing renovations and ongoing maintenance, marketing and leasing properties, and providing property management and resident services.