Invitation Homes Inc. (NYSE:INVH) Declares Quarterly Dividend of $0.29

Invitation Homes Inc. (NYSE:INVH) announced a quarterly dividend on Friday, December 13th,RTT News reports. Shareholders of record on Thursday, December 26th will be paid a dividend of 0.29 per share on Friday, January 17th. This represents a $1.16 annualized dividend and a yield of 3.51%. The ex-dividend date is Thursday, December 26th. This is a boost from Invitation Homes’s previous quarterly dividend of $0.28.

Invitation Homes has raised its dividend payment by an average of 30.1% annually over the last three years. Invitation Homes has a dividend payout ratio of 145.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Invitation Homes to earn $1.92 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 58.3%.

Invitation Homes Price Performance

Shares of NYSE INVH opened at $33.07 on Friday. The company has a market cap of $20.26 billion, a PE ratio of 46.58, a P/E/G ratio of 5.06 and a beta of 1.03. Invitation Homes has a fifty-two week low of $31.01 and a fifty-two week high of $37.80. 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 business has a 50-day simple moving average of $33.60 and a two-hundred day simple moving average of $34.89.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Mizuho lowered their price objective on shares of Invitation Homes from $36.00 to $35.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. Scotiabank dropped their price objective on shares of Invitation Homes from $38.00 to $37.00 and set a “sector perform” rating on the stock in a research note on Tuesday, September 10th. Wells Fargo & Company cut Invitation Homes from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $37.00 to $38.00 in a report on Monday, August 26th. JPMorgan Chase & Co. increased their price objective on shares of Invitation Homes from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Finally, Bank of America downgraded Invitation Homes from a “buy” rating to a “neutral” rating and decreased their target price for the company from $39.00 to $37.00 in a research report on Tuesday, September 24th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.80.

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.