State of Alaska Department of Revenue Raises Holdings in Invitation Home (NYSE:INVH)

State of Alaska Department of Revenue grew its position in shares of Invitation Home (NYSE:INVH) by 2.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 367,308 shares of the company’s stock after purchasing an additional 7,108 shares during the period. State of Alaska Department of Revenue owned approximately 0.06% of Invitation Home worth $12,799,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Empowered Funds LLC grew its position in Invitation Home by 11.7% in the fourth quarter. Empowered Funds LLC now owns 12,034 shares of the company’s stock worth $385,000 after acquiring an additional 1,258 shares in the last quarter. Allworth Financial LP grew its position in Invitation Home by 101.2% in the fourth quarter. Allworth Financial LP now owns 1,396 shares of the company’s stock worth $43,000 after acquiring an additional 702 shares in the last quarter. Sanctuary Advisors LLC grew its position in Invitation Home by 105.0% in the fourth quarter. Sanctuary Advisors LLC now owns 29,142 shares of the company’s stock worth $903,000 after acquiring an additional 14,929 shares in the last quarter. CIBC Asset Management Inc grew its position in Invitation Home by 4.6% in the fourth quarter. CIBC Asset Management Inc now owns 88,154 shares of the company’s stock worth $2,818,000 after acquiring an additional 3,878 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its position in Invitation Home by 11.3% in the fourth quarter. Handelsbanken Fonder AB now owns 421,425 shares of the company’s stock worth $13,473,000 after acquiring an additional 42,625 shares in the last quarter. Hedge funds and other institutional investors own 96.79% of the company’s stock.

Invitation Home Stock Performance

Shares of Invitation Home stock opened at $33.74 on Thursday. The firm has a market cap of $20.68 billion, a P/E ratio of 43.81, a P/E/G ratio of 3.25 and a beta of 0.82. The company has a current ratio of 0.02, a quick ratio of 0.02 and a debt-to-equity ratio of 0.46. Invitation Home has a 12 month low of $29.37 and a 12 month high of $37.80. The stock’s fifty day moving average price is $33.70 and its 200-day moving average price is $32.85.

Invitation Home (NYSE:INVH) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.47 by $0.01. The firm had revenue of $674.48 million for the quarter, compared to analyst estimates of $663.77 million. Invitation Home had a return on equity of 4.82% and a net margin of 18.01%. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.47 earnings per share. On average, equities research analysts expect that Invitation Home will post 1.83 earnings per share for the current fiscal year.

Invitation Home Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, June 26th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date of this dividend is Thursday, June 26th. Invitation Home’s dividend payout ratio (DPR) is 150.65%.

Insider Buying and Selling

In other Invitation Home news, CEO Dallas B. Tanner sold 148,749 shares of Invitation Home stock in a transaction on Friday, June 13th. The shares were sold at an average price of $33.41, for a total value of $4,969,704.09. Following the transaction, the chief executive officer now directly owns 642,973 shares of the company’s stock, valued at approximately $21,481,727.93. The trade was a 18.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

INVH has been the subject of several recent research reports. The Goldman Sachs Group lifted their price target on Invitation Home from $39.00 to $43.00 and gave the stock a “buy” rating in a research report on Tuesday, May 6th. Royal Bank Of Canada lifted their price target on Invitation Home from $35.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Friday, May 2nd. Mizuho upgraded Invitation Home from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $33.00 to $36.00 in a research report on Thursday, March 13th. Scotiabank boosted their target price on Invitation Home from $36.00 to $38.00 and gave the company a “sector perform” rating in a research report on Monday, May 12th. Finally, Citigroup upgraded Invitation Home from a “neutral” rating to a “buy” rating and boosted their target price for the company from $35.00 to $38.50 in a research report on Friday, June 6th. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Invitation Home presently has an average rating of “Moderate Buy” and an average price target of $37.97.

About Invitation Home

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.