Naviter Wealth LLC Sells 1,854 Shares of Invitation Homes Inc. (NYSE:INVH)

Naviter Wealth LLC cut its holdings in Invitation Homes Inc. (NYSE:INVH) by 4.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 39,458 shares of the company’s stock after selling 1,854 shares during the period. Naviter Wealth LLC’s holdings in Invitation Homes were worth $1,402,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in INVH. BOK Financial Private Wealth Inc. bought a new stake in shares of Invitation Homes in the first quarter worth approximately $26,000. UMB Bank n.a. boosted its holdings in Invitation Homes by 496.9% in the second quarter. UMB Bank n.a. now owns 770 shares of the company’s stock worth $28,000 after purchasing an additional 641 shares during the last quarter. Paladin Wealth LLC bought a new stake in Invitation Homes in the 3rd quarter worth approximately $40,000. Family Firm Inc. purchased a new stake in Invitation Homes during the 2nd quarter valued at $42,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Invitation Homes during the 2nd quarter valued at $44,000. 96.79% of the stock is currently owned by hedge funds and other institutional investors.

Invitation Homes Price Performance

Shares of NYSE:INVH opened at $34.18 on Friday. The firm has a market cap of $20.93 billion, a price-to-earnings ratio of 39.28, a P/E/G ratio of 4.71 and a beta of 1.01. The firm has a fifty day moving average price of $35.47 and a 200 day moving average price of $35.16. Invitation Homes Inc. has a fifty-two week low of $28.49 and a fifty-two week high of $37.80. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.20 and a current ratio of 0.20.

Invitation Homes (NYSE:INVH) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.34). The company had revenue of $653.45 million during the quarter, compared to analysts’ expectations of $654.70 million. Invitation Homes had a return on equity of 4.68% and a net margin of 18.75%. As a group, sell-side analysts expect that Invitation Homes Inc. will post 1.83 earnings per share for the current fiscal year.

Invitation Homes Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, September 26th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date is Thursday, September 26th. Invitation Homes’s payout ratio is 128.74%.

Wall Street Analyst Weigh In

Several brokerages recently commented on INVH. Bank of America lowered Invitation Homes from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $39.00 to $37.00 in a report on Tuesday, September 24th. Evercore ISI upped their price target on shares of Invitation Homes from $37.00 to $38.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. Deutsche Bank Aktiengesellschaft upgraded shares of Invitation Homes from a “hold” rating to a “buy” rating and increased their price objective for the stock from $35.00 to $41.00 in a research note on Wednesday, July 24th. Scotiabank cut 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 research report on Tuesday, September 10th. Finally, UBS Group upped their target price on shares of Invitation Homes from $41.00 to $42.00 and gave the company a “buy” rating in a report on Friday, August 16th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $39.00.

Invitation Homes Profile

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.