Invitation Homes (NYSE:INVH) Sees Strong Trading Volume – Still a Buy?

Invitation Homes Inc. (NYSE:INVH) shares saw unusually-high trading volume on Thursday . Approximately 2,420,630 shares were traded during trading, a decline of 19% from the previous session’s volume of 2,972,935 shares.The stock last traded at $30.56 and had previously closed at $30.50.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Mizuho lowered their price target on Invitation Homes from $36.00 to $35.00 and set a “neutral” rating on the stock in a research report on Thursday, October 10th. Jefferies Financial Group cut shares of Invitation Homes from a “buy” rating to a “hold” rating and reduced their target price for the stock from $39.00 to $33.00 in a report on Thursday, January 2nd. Keefe, Bruyette & Woods decreased their price target on shares of Invitation Homes from $37.00 to $35.00 and set a “market perform” rating on the stock in a research report on Wednesday, November 6th. Bank of America downgraded Invitation Homes from a “buy” rating to a “neutral” rating and cut their price objective for the company from $39.00 to $37.00 in a research report on Tuesday, September 24th. Finally, JMP Securities restated a “market outperform” rating and issued a $40.00 target price on shares of Invitation Homes in a report on Thursday, December 12th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $38.29.

Invitation Homes Trading Up 1.2 %

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 $18.91 billion, a price-to-earnings ratio of 43.39, a price-to-earnings-growth ratio of 4.44 and a beta of 1.04. The company’s 50 day simple moving average is $32.80 and its two-hundred day simple moving average is $34.32.

Invitation Homes Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, December 26th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.76%. This is a positive change from Invitation Homes’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Thursday, December 26th. Invitation Homes’s dividend payout ratio (DPR) is currently 163.38%.

Institutional Investors Weigh In On Invitation Homes

Several large investors have recently made changes to their positions in INVH. State Street Corp raised its holdings in shares of Invitation Homes by 0.8% during the 3rd quarter. State Street Corp now owns 35,739,380 shares of the company’s stock valued at $1,270,062,000 after purchasing an additional 298,307 shares in the last quarter. FMR LLC increased its position in Invitation Homes by 4.2% during the third quarter. FMR LLC now owns 18,813,744 shares of the company’s stock worth $663,373,000 after buying an additional 753,464 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in Invitation Homes by 0.8% during the second quarter. Canada Pension Plan Investment Board now owns 15,814,912 shares of the company’s stock valued at $567,597,000 after buying an additional 128,000 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in Invitation Homes by 9.3% during the third quarter. Daiwa Securities Group Inc. now owns 11,748,855 shares of the company’s stock valued at $414,264,000 after buying an additional 997,353 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Invitation Homes by 2.0% in the second quarter. Dimensional Fund Advisors LP now owns 8,795,707 shares of the company’s stock worth $315,671,000 after buying an additional 170,374 shares during the last quarter. Institutional investors 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.