Invitation Home Inc. (INVH) Cut to Hold at Zacks Investment Research
Zacks Investment Research downgraded shares of Invitation Home Inc. (NYSE:INVH) from a buy rating to a hold rating in a research note published on Thursday.
According to Zacks, “Invitation Homes Inc. provides real estate services. It focuses on owning, renovating, leasing and operating single-family residential properties primarily in the United States. Invitation Homes Inc. is headquartered in Dallas, Texas. “
Other research analysts also recently issued reports about the stock. Zelman & Associates upgraded shares of Invitation Home from a hold rating to a buy rating in a research report on Friday, June 23rd. Keefe, Bruyette & Woods reissued a buy rating and issued a $25.00 price objective on shares of Invitation Home in a research note on Friday, August 18th. Finally, Evercore ISI initiated coverage on shares of Invitation Home in a research note on Monday, June 5th. They issued an outperform rating and a $24.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Invitation Home has an average rating of Buy and a consensus price target of $24.38.
Invitation Home (NYSE INVH) opened at 22.40 on Thursday. Invitation Home has a 1-year low of $19.80 and a 1-year high of $23.13. The company has a 50-day moving average of $22.45 and a 200-day moving average of $22.12. The stock’s market capitalization is $6.97 billion.
Invitation Home (NYSE:INVH) last released its quarterly earnings results on Thursday, August 10th. The company reported $0.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.01. The business had revenue of $242.22 million during the quarter, compared to the consensus estimate of $240.58 million. The company’s revenue was up 5.1% compared to the same quarter last year. Analysts anticipate that Invitation Home will post ($0.10) earnings per share for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Tuesday, August 15th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, August 11th. This represents a $0.32 annualized dividend and a yield of 1.43%. This is a positive change from Invitation Home’s previous quarterly dividend of $0.06.
A number of hedge funds have recently added to or reduced their stakes in the business. Citigroup Inc. lifted its holdings in shares of Invitation Home by 3.3% in the 2nd quarter. Citigroup Inc. now owns 47,555 shares of the company’s stock worth $1,030,000 after acquiring an additional 1,540 shares during the last quarter. GAM Holding AG lifted its holdings in shares of Invitation Home by 28.1% in the 2nd quarter. GAM Holding AG now owns 7,300 shares of the company’s stock worth $158,000 after acquiring an additional 1,600 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of Invitation Home by 8.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 28,114 shares of the company’s stock worth $608,000 after acquiring an additional 2,171 shares during the last quarter. Utah Retirement Systems lifted its holdings in shares of Invitation Home by 26.7% in the 2nd quarter. Utah Retirement Systems now owns 16,092 shares of the company’s stock worth $348,000 after acquiring an additional 3,392 shares during the last quarter. Finally, Quantbot Technologies LP lifted its holdings in shares of Invitation Home by 30.9% in the 2nd quarter. Quantbot Technologies LP now owns 14,523 shares of the company’s stock worth $314,000 after acquiring an additional 3,432 shares during the last quarter.
Invitation Home Company Profile
Invitation Homes Inc is a real estate investment trust. The Company owns and operates single-family homes for lease in the United States. The Company’s segment relates to acquiring, renovating, leasing and operating single-family homes as rental properties, including single-family homes in planned unit developments.
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