Invitation Homes (NYSE:INVH) Shares Cross Above 50 Day Moving Average – Here’s Why

Shares of Invitation Homes (NYSE:INVH) crossed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $27.26 and traded as high as $27.75. Invitation Homes shares last traded at $27.5880, with a volume of 7,497,430 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms have weighed in on INVH. Keefe, Bruyette & Woods raised their price objective on shares of Invitation Homes from $29.00 to $31.00 and gave the company a “market perform” rating in a research note on Wednesday, August 5th. Royal Bank Of Canada dropped their target price on shares of Invitation Homes from $31.00 to $29.00 and set a “sector perform” rating on the stock in a research note on Tuesday, October 13th. Citigroup reiterated a “buy” rating on shares of Invitation Homes in a report on Thursday, August 6th. UBS Group reduced their price target on shares of Invitation Homes from $35.00 to $31.00 and set a “buy” rating for the company in a research report on Monday, October 12th. Finally, Mizuho upgraded shares of Invitation Homes from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $31.00 to $32.00 in a report on Monday, September 21st. Eleven research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $32.00.

Invitation Homes Stock Performance

The company has a quick ratio of 0.01, a current ratio of 0.01 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $15.89 billion, a P/E ratio of 24.20, a P/E/G ratio of 4.15 and a beta of 0.81. The business has a fifty day moving average price of $27.26 and a 200-day moving average price of $27.79.

Invitation Homes (NYSE:INVH) last released its quarterly earnings data on Wednesday, October 28th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.18 by $0.09. Invitation Homes had a return on equity of 7.62% and a net margin of 23.54%. The company had revenue of $731.28 million during the quarter, compared to the consensus estimate of $742.55 million. During the same period last year, the company earned $0.47 EPS. Invitation Homes’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, sell-side analysts expect that Invitation Homes will post 1.90 EPS for the current year.

Invitation Homes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Thursday, September 24th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend was Thursday, September 24th. Invitation Homes’s dividend payout ratio (DPR) is presently 105.26%.

Institutional Trading of Invitation Homes

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new position in Invitation Homes during the second quarter valued at approximately $1,866,973,000. Dimensional Fund Advisors LP boosted its holdings in Invitation Homes by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 8,379,282 shares of the company’s stock worth $208,225,000 after purchasing an additional 132,006 shares during the last quarter. Deutsche Bank AG purchased a new stake in Invitation Homes in the second quarter worth approximately $193,539,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position 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 worth $180,391,000 after purchasing 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 worth approximately $140,427,000. 96.79% of the stock is currently owned by institutional investors.

Invitation Homes Company Profile

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.