Wells Fargo & Company MN raised its stake in Invitation Homes Inc (NYSE:INVH) by 0.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,489,198 shares of the company’s stock after buying an additional 24,190 shares during the period. Wells Fargo & Company MN owned about 1.44% of Invitation Homes worth $171,577,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the company. Bank of Montreal Can boosted its stake in shares of Invitation Homes by 338.8% in the 3rd quarter. Bank of Montreal Can now owns 4,555 shares of the company’s stock valued at $104,000 after purchasing an additional 3,517 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in Invitation Homes during the 2nd quarter valued at $175,000. Signition LP purchased a new stake in shares of Invitation Homes in the 3rd quarter worth about $203,000. Engineers Gate Manager LP purchased a new stake in shares of Invitation Homes in the 2nd quarter worth about $205,000. Finally, IFM Investors Pty Ltd purchased a new stake in shares of Invitation Homes in the 3rd quarter worth about $266,000.
Several research analysts recently issued reports on the stock. Raymond James increased their price target on shares of Invitation Homes from $26.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, August 21st. TheStreet upgraded shares of Invitation Homes from a “d+” rating to a “c” rating in a research note on Tuesday. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Invitation Homes has an average rating of “Buy” and a consensus target price of $25.83.
Invitation Homes (NYSE:INVH) last issued its quarterly earnings results on Monday, November 5th. The company reported $0.29 earnings per share for the quarter, meeting the consensus estimate of $0.29. Invitation Homes had a negative net margin of 4.71% and a negative return on equity of 0.56%. The business had revenue of $434.20 million for the quarter, compared to the consensus estimate of $436.18 million. During the same quarter in the previous year, the firm earned $0.20 earnings per share. The company’s revenue for the quarter was up 78.3% on a year-over-year basis. On average, equities research analysts predict that Invitation Homes Inc will post 1.18 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Wednesday, November 14th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 2.03%. The ex-dividend date is Tuesday, November 13th. Invitation Homes’s dividend payout ratio is currently 169.23%.
In other Invitation Homes news, Director Barry S. Sternlicht sold 1,309,849 shares of Invitation Homes stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $23.55, for a total transaction of $30,846,943.95. Following the transaction, the director now owns 5,482 shares of the company’s stock, valued at $129,101.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is owned by insiders.
About Invitation Homes
Invitation Homes is a leading owner and operator of single-family homes for lease, offering residents high-quality homes across America. With over 80,000 homes for lease in 17 markets across the country, Invitation Homes is meeting changing lifestyle demands by providing residents access to updated homes with features they value, such as close proximity to jobs and access to good schools.
Further Reading: Earnings Per Share
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