38,291 Invitation Homes $INVH Shares Sold by Carnegie Lake Advisors LLC

Carnegie Lake Advisors LLC lessened its position in shares of Invitation Homes (NYSE:INVH) by 96.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,482 shares of the company’s stock after selling 38,291 shares during the period. Carnegie Lake Advisors LLC’s holdings in Invitation Homes were worth $39,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jupiter Topco LLC acquired a new stake in shares of Invitation Homes during the 2nd quarter valued at about $4,243,000. Paralel Advisors LLC increased its stake in shares of Invitation Homes by 218.2% in the 2nd quarter. Paralel Advisors LLC now owns 65,628 shares of the company’s stock valued at $1,983,000 after purchasing an additional 45,000 shares in the last quarter. Junto Capital Management LP purchased a new position in shares of Invitation Homes in the 2nd quarter valued at about $59,101,000. Bank of America Corp DE acquired a new position in Invitation Homes in the 2nd quarter worth about $75,411,000. Finally, Hsbc Holdings PLC raised its holdings in Invitation Homes by 2.0% in the 2nd quarter. Hsbc Holdings PLC now owns 2,722,345 shares of the company’s stock worth $82,337,000 after purchasing an additional 54,581 shares during the period. Hedge funds and other institutional investors own 96.79% of the company’s stock.

Invitation Homes Stock Performance

INVH opened at $27.10 on Monday. The firm’s fifty day simple moving average is $27.17 and its two-hundred day simple moving average is $27.79. Invitation Homes has a 52-week low of $24.25 and a 52-week high of $30.89. The company has a market cap of $15.61 billion, a price-to-earnings ratio of 23.77, a PEG ratio of 4.22 and a beta of 0.81. The company has a quick ratio of 0.01, a current ratio of 0.01 and a debt-to-equity ratio of 0.40.

Invitation Homes (NYSE:INVH) last released its earnings results on Wednesday, October 28th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.09. Invitation Homes had a net margin of 23.54% and a return on equity of 7.62%. The business had revenue of $731.28 million during the quarter, compared to analysts’ expectations of $742.55 million. During the same quarter in the previous year, the company earned $0.47 earnings per share. The company’s quarterly revenue was up 6.3% on a year-over-year basis. Equities analysts anticipate that Invitation Homes will post 1.90 earnings per share for the current fiscal year.

Invitation Homes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Thursday, September 24th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 4.4%. The ex-dividend date was Thursday, September 24th. Invitation Homes’s payout ratio is presently 105.26%.

Wall Street Analyst Weigh In

INVH has been the topic of a number of recent analyst reports. Scotiabank lowered their price target on Invitation Homes from $30.00 to $28.00 and set a “sector perform” rating on the stock in a research report on Thursday, September 17th. Weiss Ratings restated a “hold (c)” rating on shares of Invitation Homes in a research report on Thursday, August 27th. JPMorgan Chase & Co. boosted their price objective on Invitation Homes from $33.00 to $34.00 and gave the company an “overweight” rating in a research report on Tuesday, August 25th. Oppenheimer upped their target price on Invitation Homes from $31.00 to $33.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. Finally, Jefferies Financial Group upgraded Invitation Homes to a “hold” rating in a research report on Wednesday, July 22nd. Eleven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $32.00.

Invitation Homes Company Profile

Invitation Homes Inc (NYSE: INVH) is a real estate investment trust that owns, leases and operates single-family homes in the United States. The company provides professionally managed rental housing for individuals and families, with properties generally located in suburban communities and metropolitan areas.

The company’s services include home leasing, property management, resident support, maintenance and renovations. Invitation Homes uses technology and centralized operating systems to market homes, manage lease agreements, collect rent and coordinate property care.