Summit Global Investments Acquires New Shares in Invitation Homes $INVH

Summit Global Investments acquired a new stake in Invitation Homes (NYSE:INVH) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 32,777 shares of the company’s stock, valued at approximately $863,000.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of Invitation Homes during the 2nd quarter worth approximately $1,866,973,000. Dimensional Fund Advisors LP increased its holdings in shares of Invitation Homes by 1.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,379,282 shares of the company’s stock worth $208,225,000 after acquiring an additional 132,006 shares during the last quarter. Deutsche Bank AG acquired a new position in shares of Invitation Homes during the 2nd quarter worth approximately $193,539,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Invitation Homes by 74,699.5% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,971,242 shares of the company’s stock valued at $180,391,000 after acquiring an additional 5,963,259 shares during the period. Finally, Legal & General Group Plc bought a new stake in Invitation Homes in the 2nd quarter valued at $140,427,000. 96.79% of the stock is owned by institutional investors and hedge funds.

Invitation Homes Price Performance

Invitation Homes stock opened at $26.87 on Tuesday. Invitation Homes has a 12 month low of $24.25 and a 12 month high of $30.89. The stock’s 50 day moving average is $27.39 and its 200-day moving average is $27.79. The company has a current ratio of 0.02, a quick ratio of 0.02 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $15.87 billion, a price-to-earnings ratio of 13.72, a PEG ratio of 3.98 and a beta of 0.82.

Invitation Homes (NYSE:INVH) last announced its earnings results on Wednesday, October 28th. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.09. The company had revenue of $731.28 million for the quarter, compared to analyst estimates of $742.55 million. Invitation Homes had a return on equity of 7.54% and a net margin of 23.54%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.47 earnings per share. Equities research analysts expect that Invitation Homes will post 1.90 EPS for the current year.

Invitation Homes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Thursday, September 24th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend was Thursday, September 24th. Invitation Homes’s dividend payout ratio is currently 105.26%.

Wall Street Analysts Forecast Growth

INVH has been the subject of several research reports. Jefferies Financial Group raised Invitation Homes to a “hold” rating in a report on Wednesday, July 22nd. Scotiabank decreased their price objective on shares of Invitation Homes from $30.00 to $28.00 and set a “sector perform” rating on the stock in a report on Thursday, September 17th. Oppenheimer upped their price objective on shares of Invitation Homes from $31.00 to $33.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. UBS Group dropped their price objective on shares of Invitation Homes from $35.00 to $31.00 and set a “buy” rating on the stock in a research report on Monday, October 12th. Finally, Compass Point upgraded shares of Invitation Homes to a “hold” rating in a research note on Thursday, July 9th. Eleven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $32.00.

About Invitation Homes

Invitation Homes Inc (NYSE: INVH) is a real estate investment trust that owns, leases and operates single-family homes in the United States. The company provides professionally managed rental housing for individuals and families, with properties generally located in suburban communities and metropolitan areas.

The company’s services include home leasing, property management, resident support, maintenance and renovations. Invitation Homes uses technology and centralized operating systems to market homes, manage lease agreements, collect rent and coordinate property care.