Norges Bank Buys New Position in Invitation Homes Inc. (NYSE:INVH)

Norges Bank purchased a new position in Invitation Homes Inc. (NYSE:INVH) during the 4th quarter, HoldingsChannel reports. The firm purchased 51,510,613 shares of the company’s stock, valued at approximately $1,646,794,000. Norges Bank owned about 0.08% of Invitation Homes at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. State Street Corp grew its position in Invitation Homes by 0.8% in the third quarter. State Street Corp now owns 35,739,380 shares of the company’s stock worth $1,270,062,000 after buying an additional 298,307 shares during the last quarter. FMR LLC increased its stake in Invitation Homes by 4.2% in the 3rd quarter. FMR LLC now owns 18,813,744 shares of the company’s stock worth $663,373,000 after purchasing an additional 753,464 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Invitation Homes by 74.1% during the 4th quarter. JPMorgan Chase & Co. now owns 10,949,043 shares of the company’s stock worth $350,041,000 after buying an additional 4,661,213 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Invitation Homes by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,598,451 shares of the company’s stock valued at $210,952,000 after buying an additional 31,184 shares in the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC boosted its holdings in shares of Invitation Homes by 0.8% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 5,597,177 shares of the company’s stock worth $178,942,000 after buying an additional 44,945 shares during the period. 96.79% of the stock is owned by institutional investors and hedge funds.

Invitation Homes Stock Up 0.8 %

Shares of Invitation Homes stock opened at $34.35 on Thursday. Invitation Homes Inc. has a 12-month low of $30.13 and a 12-month high of $37.80. The stock has a 50 day moving average price of $32.31 and a two-hundred day moving average price of $33.14. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $21.04 billion, a P/E ratio of 48.37, a PEG ratio of 4.70 and a beta of 1.03.

Invitation Homes (NYSE:INVH) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $0.47 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.47. Invitation Homes had a net margin of 17.02% and a return on equity of 4.36%. The business had revenue of $659.13 million for the quarter, compared to the consensus estimate of $658.71 million. Equities analysts expect that Invitation Homes Inc. will post 1.83 earnings per share for the current year.

Invitation Homes Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, March 17th will be paid a $0.29 dividend. The ex-dividend date is Thursday, March 27th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.38%. Invitation Homes’s payout ratio is 158.90%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on INVH. Mizuho upgraded shares of Invitation Homes from a “neutral” rating to an “outperform” rating and upped their price target for the company from $33.00 to $36.00 in a research report on Thursday, March 13th. Jefferies Financial Group lowered Invitation Homes from a “buy” rating to a “hold” rating and dropped their price target for the company from $39.00 to $33.00 in a research report on Thursday, January 2nd. Keefe, Bruyette & Woods raised their price objective on Invitation Homes from $35.00 to $36.00 and gave the stock a “market perform” rating in a research report on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft cut shares of Invitation Homes from a “buy” rating to a “hold” rating and decreased their price target for the stock from $41.00 to $33.00 in a report on Tuesday, January 21st. Finally, JMP Securities restated a “market outperform” rating and set a $40.00 price target on shares of Invitation Homes in a report on Thursday, December 12th. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Invitation Homes presently has an average rating of “Hold” and an average price target of $37.56.

About Invitation Homes

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