Capital Growth Management LP Invests $37.34 Million in Invitation Homes Inc (INVH) Stock
Capital Growth Management LP purchased a new position in Invitation Homes Inc (NYSE:INVH) in the third quarter, HoldingsChannel.com reports. The institutional investor purchased 1,630,000 shares of the company’s stock, valued at approximately $37,343,000. Invitation Homes makes up about 1.9% of Capital Growth Management LP’s portfolio, making the stock its 25th largest holding.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Nisa Investment Advisors LLC grew its stake in Invitation Homes by 25.1% during the second quarter. Nisa Investment Advisors LLC now owns 26,493 shares of the company’s stock valued at $611,000 after acquiring an additional 5,308 shares in the last quarter. Mizuho Securities USA LLC purchased a new position in Invitation Homes during the second quarter valued at approximately $505,000. Daiwa Securities Group Inc. grew its stake in Invitation Homes by 0.7% during the second quarter. Daiwa Securities Group Inc. now owns 7,501,045 shares of the company’s stock valued at $172,975,000 after acquiring an additional 49,321 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its position in Invitation Homes by 2.7% during the second quarter. State of New Jersey Common Pension Fund D now owns 1,128,192 shares of the company’s stock valued at $26,017,000 after purchasing an additional 30,000 shares during the last quarter. Finally, Eii Capital Management Inc. lifted its position in Invitation Homes by 151.4% during the second quarter. Eii Capital Management Inc. now owns 84,966 shares of the company’s stock valued at $1,959,000 after purchasing an additional 51,167 shares during the last quarter.
Several equities research analysts have issued reports on the stock. Raymond James lifted their target price on shares of Invitation Homes from $26.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, August 21st. TheStreet upgraded shares of Invitation Homes from a “d+” rating to a “c” rating in a research report on Tuesday, November 6th. Zacks Investment Research lowered shares of Invitation Homes from a “hold” rating to a “sell” rating in a research report on Wednesday, November 14th. Finally, Mizuho lowered shares of Invitation Homes from a “buy” rating to a “neutral” rating and dropped their target price for the company from $25.00 to $23.00 in a research report on Wednesday, November 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $25.61.
Invitation Homes (NYSE:INVH) last announced its quarterly earnings data on Monday, November 5th. The company reported $0.29 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.29. The firm had revenue of $434.20 million during the quarter, compared to analyst estimates of $436.18 million. Invitation Homes had a negative net margin of 4.71% and a negative return on equity of 0.56%. The business’s quarterly revenue was up 78.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.20 EPS. Analysts forecast that Invitation Homes Inc will post 1.18 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Wednesday, November 14th will be issued a $0.11 dividend. The ex-dividend date is Tuesday, November 13th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.10%. Invitation Homes’s payout ratio is 169.23%.
In other news, Director Barry S. Sternlicht sold 1,309,849 shares of the business’s stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $23.55, for a total value of $30,846,943.95. Following the completion of the sale, the director now directly owns 5,482 shares in the company, valued at approximately $129,101.10. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.50% of the company’s stock.
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Invitation Homes Company Profile
Invitation Homes is a leading owner and operator of single-family homes for lease, offering residents high-quality homes across America. With over 80,000 homes for lease in 17 markets across the country, Invitation Homes is meeting changing lifestyle demands by providing residents access to updated homes with features they value, such as close proximity to jobs and access to good schools.
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