Short Interest in Invitation Homes Inc. (NYSE:INVH) Declines By 11.3%

Invitation Homes Inc. (NYSE:INVH) was the target of a large decline in short interest during the month of February. As of February 29th, there was short interest totalling 10,110,000 shares, a decline of 11.3% from the February 14th total of 11,400,000 shares. Based on an average daily volume of 3,260,000 shares, the short-interest ratio is presently 3.1 days.

Analysts Set New Price Targets

Several equities analysts have commented on INVH shares. Oppenheimer upped their price target on Invitation Homes from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Friday, January 5th. Keefe, Bruyette & Woods cut their price target on Invitation Homes from $38.00 to $37.00 and set a “market perform” rating for the company in a report on Tuesday, February 27th. Morgan Stanley cut their price target on Invitation Homes from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Tuesday, December 26th. JMP Securities reaffirmed a “market outperform” rating and issued a $40.00 price target on shares of Invitation Homes in a report on Thursday, March 7th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 price objective on shares of Invitation Homes in a research note on Thursday, February 15th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Invitation Homes presently has a consensus rating of “Moderate Buy” and an average target price of $37.59.

Invitation Homes Price Performance

INVH stock traded down $0.34 during midday trading on Monday, reaching $34.62. 2,871,285 shares of the company’s stock traded hands, compared to its average volume of 3,346,426. The company has a 50-day simple moving average of $33.63 and a two-hundred day simple moving average of $33.17. Invitation Homes has a 1-year low of $28.49 and a 1-year high of $36.53. The company has a market cap of $21.18 billion, a price-to-earnings ratio of 41.21, a PEG ratio of 2.07 and a beta of 0.94. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 0.53.

Invitation Homes (NYSE:INVH) last released its quarterly earnings results on Tuesday, February 13th. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.23). The business had revenue of $624.32 million for the quarter, compared to analyst estimates of $623.51 million. Invitation Homes had a net margin of 21.34% and a return on equity of 5.06%. On average, analysts anticipate that Invitation Homes will post 1.82 earnings per share for the current year.

Invitation Homes Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 19th. Stockholders of record on Thursday, March 28th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $1.12 annualized dividend and a dividend yield of 3.24%. Invitation Homes’s dividend payout ratio (DPR) is currently 133.33%.

Insider Buying and Selling

In related news, CFO Jonathan S. Olsen sold 10,000 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $34.75, for a total transaction of $347,500.00. Following the completion of the transaction, the chief financial officer now owns 37,037 shares of the company’s stock, valued at approximately $1,287,035.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.21% of the stock is owned by insiders.

Institutional Investors Weigh In On Invitation Homes

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP increased its stake in shares of Invitation Homes by 0.9% in the 4th quarter. Wellington Management Group LLP now owns 42,341 shares of the company’s stock valued at $1,444,000 after buying an additional 386 shares during the period. Creekmur Asset Management LLC acquired a new stake in shares of Invitation Homes in the 4th quarter valued at $46,000. Goldman Sachs Group Inc. boosted its position in shares of Invitation Homes by 66.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 5,424,752 shares of the company’s stock worth $185,038,000 after purchasing an additional 2,169,522 shares during the last quarter. FIL Ltd boosted its position in shares of Invitation Homes by 2.8% in the 4th quarter. FIL Ltd now owns 393,157 shares of the company’s stock worth $13,411,000 after purchasing an additional 10,793 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Invitation Homes by 1.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 767,892 shares of the company’s stock worth $26,194,000 after purchasing an additional 10,847 shares during the last quarter. 96.79% of the stock is owned by institutional investors and hedge funds.

About Invitation Homes

Invitation Homes, an S&P 500 company, is the nation's premier single-family home leasing 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.