Northern Trust Corp Grows Position in Invitation Homes Inc. (NYSE:INVH)

Northern Trust Corp grew its holdings in Invitation Homes Inc. (NYSE:INVH) by 27.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 6,820,769 shares of the company’s stock after buying an additional 1,463,236 shares during the quarter. Northern Trust Corp’s holdings in Invitation Homes were worth $218,060,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Assetmark Inc. grew its holdings in Invitation Homes by 179.5% in the 4th quarter. Assetmark Inc. now owns 3,650 shares of the company’s stock valued at $117,000 after buying an additional 2,344 shares in the last quarter. Capital World Investors purchased a new stake in shares of Invitation Homes in the fourth quarter valued at about $4,891,000. Charles Schwab Investment Management Inc. increased its position 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 worth $210,952,000 after purchasing an additional 31,184 shares during the last quarter. OFI Invest Asset Management purchased a new position in Invitation Homes during the fourth quarter worth about $595,000. Finally, Cbre Investment Management Listed Real Assets LLC boosted its holdings in Invitation Homes by 0.8% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 5,597,177 shares of the company’s stock valued at $178,942,000 after purchasing an additional 44,945 shares during the last quarter. 96.79% of the stock is owned by hedge funds and other institutional investors.

Invitation Homes Stock Performance

NYSE:INVH opened at $35.10 on Friday. Invitation Homes Inc. has a 52 week low of $29.37 and a 52 week high of $37.80. The company has a fifty day simple moving average of $33.47 and a two-hundred day simple moving average of $32.81. 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 company has a market cap of $21.51 billion, a price-to-earnings ratio of 49.44, a price-to-earnings-growth ratio of 4.70 and a beta of 0.86.

Invitation Homes (NYSE:INVH) last released its earnings results on Wednesday, April 30th. The company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.47 by $0.01. The firm had revenue of $674.48 million during the quarter, compared to analysts’ expectations of $663.77 million. Invitation Homes had a return on equity of 4.36% and a net margin of 17.02%. Invitation Homes’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.47 EPS. As a group, equities analysts anticipate that Invitation Homes Inc. will post 1.83 earnings per share for the current fiscal year.

Invitation Homes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 17th. Investors of record on Monday, March 17th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Thursday, March 27th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.30%. Invitation Homes’s payout ratio is 158.90%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Keefe, Bruyette & Woods raised their price target on shares of Invitation Homes from $35.00 to $36.00 and gave the stock a “market perform” rating in a report on Wednesday, March 5th. Jefferies Financial Group downgraded Invitation Homes from a “buy” rating to a “hold” rating and reduced their target price for the company from $39.00 to $33.00 in a research report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft cut Invitation Homes from a “buy” rating to a “hold” rating and lowered their price target for the stock from $41.00 to $33.00 in a report on Tuesday, January 21st. Morgan Stanley downgraded Invitation Homes from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $39.00 to $35.00 in a research report on Friday, January 24th. Finally, Mizuho raised shares of Invitation Homes from a “neutral” rating to an “outperform” rating and upped their target price for the company from $33.00 to $36.00 in a research report on Thursday, March 13th. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $37.38.

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.