Lenox Wealth Management Inc. lifted its position in shares of Invitation Homes Inc (NYSE:INVH) by 6,568.3% during the third quarter, HoldingsChannel reports. The firm owned 9,269 shares of the company’s stock after buying an additional 9,130 shares during the quarter. Lenox Wealth Management Inc.’s holdings in Invitation Homes were worth $274,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bank of America Corp DE lifted its position in Invitation Homes by 1,373.2% in the 2nd quarter. Bank of America Corp DE now owns 23,768,299 shares of the company’s stock valued at $635,327,000 after acquiring an additional 22,154,878 shares in the last quarter. Vanguard Group Inc. lifted its position in Invitation Homes by 27.6% in the 2nd quarter. Vanguard Group Inc. now owns 62,328,263 shares of the company’s stock valued at $1,666,034,000 after acquiring an additional 13,491,691 shares in the last quarter. Nuveen Asset Management LLC lifted its position in Invitation Homes by 195.1% in the 2nd quarter. Nuveen Asset Management LLC now owns 6,530,891 shares of the company’s stock valued at $174,570,000 after acquiring an additional 4,317,595 shares in the last quarter. BlackRock Inc. lifted its position in Invitation Homes by 13.5% in the 2nd quarter. BlackRock Inc. now owns 32,366,010 shares of the company’s stock valued at $865,142,000 after acquiring an additional 3,837,192 shares in the last quarter. Finally, Resolution Capital Ltd bought a new stake in Invitation Homes in the 2nd quarter valued at $89,444,000.
In other news, major shareholder Real Estate Partner Blackstone sold 44,000,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $28.18, for a total transaction of $1,239,920,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Mark A. Solls sold 30,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $29.01, for a total transaction of $870,300.00. Following the transaction, the executive vice president now owns 94,858 shares in the company, valued at $2,751,830.58. The disclosure for this sale can be found here. Insiders have sold a total of 44,649,323 shares of company stock worth $1,259,523,023 over the last 90 days. 0.25% of the stock is owned by company insiders.
Several equities research analysts recently commented on INVH shares. Keefe, Bruyette & Woods cut shares of Invitation Homes from an “outperform” rating to a “market perform” rating and set a $28.50 price objective on the stock. in a research report on Friday, July 19th. Morgan Stanley boosted their price target on shares of Invitation Homes from $31.00 to $35.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Credit Suisse Group boosted their price target on shares of Invitation Homes from $28.50 to $32.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada boosted their price target on shares of Invitation Homes to $30.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. Finally, Citigroup boosted their price target on shares of Invitation Homes from $31.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Invitation Homes has a consensus rating of “Hold” and a consensus price target of $29.79.
NYSE:INVH traded down $0.01 on Friday, hitting $29.51. 1,968,848 shares of the company’s stock were exchanged, compared to its average volume of 3,854,910. The firm has a 50-day moving average price of $30.17 and a 200-day moving average price of $27.76. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.29 and a quick ratio of 0.29. Invitation Homes Inc has a 52 week low of $19.21 and a 52 week high of $31.32. The company has a market cap of $15.95 billion, a P/E ratio of 128.30, a price-to-earnings-growth ratio of 3.14 and a beta of 0.40.
Invitation Homes (NYSE:INVH) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.24). The business had revenue of $443.33 million for the quarter, compared to the consensus estimate of $446.66 million. Invitation Homes had a return on equity of 1.83% and a net margin of 6.76%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the firm earned $0.29 earnings per share. On average, research analysts expect that Invitation Homes Inc will post 1.23 earnings per share for the current fiscal year.
The company also recently disclosed a dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be paid a dividend of $0.13 per share. The ex-dividend date is Tuesday, November 12th. Invitation Homes’s dividend payout ratio is presently 226.09%.
About Invitation Homes
Invitation Homes is a leading owner and operator of single-family rental homes, 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.
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