Invitation Home $INVH Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund reduced its holdings in shares of Invitation Home (NYSE:INVH) by 41.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 188,729 shares of the company’s stock after selling 133,775 shares during the period. Illinois Municipal Retirement Fund’s holdings in Invitation Home were worth $5,535,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of INVH. Norges Bank purchased a new position in shares of Invitation Home during the second quarter worth about $1,693,992,000. AQR Capital Management LLC lifted its position in Invitation Home by 2,205.3% during the 2nd quarter. AQR Capital Management LLC now owns 1,715,777 shares of the company’s stock worth $56,277,000 after acquiring an additional 1,641,351 shares during the period. First Trust Advisors LP grew its stake in shares of Invitation Home by 1,556.8% in the 2nd quarter. First Trust Advisors LP now owns 1,460,638 shares of the company’s stock valued at $47,909,000 after purchasing an additional 1,372,478 shares during the last quarter. Invesco Ltd. grew its stake in shares of Invitation Home by 11.9% in the 2nd quarter. Invesco Ltd. now owns 11,745,333 shares of the company’s stock valued at $385,247,000 after purchasing an additional 1,247,682 shares during the last quarter. Finally, Qube Research & Technologies Ltd increased its holdings in shares of Invitation Home by 367.2% in the second quarter. Qube Research & Technologies Ltd now owns 1,255,077 shares of the company’s stock valued at $41,167,000 after purchasing an additional 986,452 shares during the period. 96.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

INVH has been the topic of a number of analyst reports. Evercore lowered their price objective on shares of Invitation Home from $34.00 to $33.00 and set an “outperform” rating on the stock in a research report on Friday, October 31st. JPMorgan Chase & Co. lowered their target price on shares of Invitation Home from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Tuesday, November 18th. Keefe, Bruyette & Woods dropped their price target on shares of Invitation Home from $33.00 to $31.00 and set a “market perform” rating on the stock in a research note on Wednesday, November 5th. Morgan Stanley reduced their price objective on shares of Invitation Home from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Thursday, November 13th. Finally, Barclays reaffirmed an “overweight” rating and issued a $33.00 price objective on shares of Invitation Home in a report on Tuesday, January 13th. Eight equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, Invitation Home currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.70.

Invitation Home Stock Up 0.5%

Shares of NYSE INVH opened at $26.97 on Friday. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.42. Invitation Home has a 52 week low of $25.29 and a 52 week high of $35.80. The firm has a 50-day moving average price of $26.97 and a 200 day moving average price of $28.43. The stock has a market capitalization of $16.53 billion, a price-to-earnings ratio of 28.38, a price-to-earnings-growth ratio of 2.92 and a beta of 0.83.

Invitation Home Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Tuesday, December 23rd were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date was Tuesday, December 23rd. This is a positive change from Invitation Home’s previous quarterly dividend of $0.29. Invitation Home’s payout ratio is 126.32%.

About Invitation Home

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.