Invitation Homes Inc. (NYSE:INVH) Sees Large Drop in Short Interest

Invitation Homes Inc. (NYSE:INVH) was the recipient of a large decrease in short interest during the month of November. As of November 30th, there was short interest totalling 10,740,000 shares, a decrease of 10.3% from the November 15th total of 11,970,000 shares. Based on an average trading volume of 3,740,000 shares, the days-to-cover ratio is presently 2.9 days.

Invitation Homes Price Performance

NYSE INVH traded down $0.73 during trading hours on Tuesday, reaching $32.40. The company’s stock had a trading volume of 3,193,537 shares, compared to its average volume of 3,332,305. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.24 and a current ratio of 0.24. The stock has a market cap of $19.85 billion, a PE ratio of 45.83, a PEG ratio of 5.06 and a beta of 1.03. The company’s 50-day moving average is $33.58 and its two-hundred day moving average is $34.89. Invitation Homes has a fifty-two week low of $31.01 and a fifty-two week high of $37.80.

Invitation Homes Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, December 26th will be given a dividend of $0.29 per share. This is an increase from Invitation Homes’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a dividend yield of 3.58%. The ex-dividend date is Thursday, December 26th. Invitation Homes’s payout ratio is currently 163.38%.

Wall Street Analyst Weigh In

Several research firms have weighed in on INVH. Bank of America downgraded Invitation Homes from a “buy” rating to a “neutral” rating and dropped their target price for the company from $39.00 to $37.00 in a research report on Tuesday, September 24th. Wells Fargo & Company cut Invitation Homes from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $37.00 to $38.00 in a research report on Monday, August 26th. Scotiabank lowered their target price on shares of Invitation Homes from $38.00 to $37.00 and set a “sector perform” rating for the company in a report on Tuesday, September 10th. JMP Securities reiterated a “market outperform” rating and issued a $40.00 price objective on shares of Invitation Homes in a research note on Thursday, December 12th. Finally, Royal Bank of Canada dropped their price target on Invitation Homes from $36.00 to $34.00 and set a “sector perform” rating on the stock in a research report on Friday, November 1st. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $38.70.

Institutional Investors Weigh In On Invitation Homes

A number of large investors have recently bought and sold shares of INVH. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Invitation Homes by 767.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,519,603 shares of the company’s stock valued at $194,621,000 after acquiring an additional 4,883,564 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in Invitation Homes by 9.3% in the third quarter. Daiwa Securities Group Inc. now owns 11,748,855 shares of the company’s stock valued at $414,264,000 after purchasing an additional 997,353 shares during the period. National Bank of Canada FI raised its position in shares of Invitation Homes by 214.5% in the 3rd quarter. National Bank of Canada FI now owns 1,144,693 shares of the company’s stock worth $40,362,000 after buying an additional 780,760 shares during the period. FMR LLC lifted its stake in shares of Invitation Homes by 4.2% in the 3rd quarter. FMR LLC now owns 18,813,744 shares of the company’s stock valued at $663,373,000 after purchasing an additional 753,464 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in Invitation Homes by 144.5% during the third quarter. BNP Paribas Financial Markets now owns 1,027,366 shares of the company’s stock worth $36,225,000 after buying an additional 607,163 shares during the period. Institutional investors and hedge funds own 96.79% of the company’s stock.

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.