Prana Capital Management LP Boosts Position in Invitation Homes Inc. (NYSE:INVH)

Prana Capital Management LP increased its stake in Invitation Homes Inc. (NYSE:INVH) by 27.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 324,453 shares of the company’s stock after buying an additional 69,546 shares during the quarter. Prana Capital Management LP owned about 0.05% of Invitation Homes worth $11,440,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in INVH. Investment Management Corp of Ontario grew its holdings in Invitation Homes by 49.4% during the 3rd quarter. Investment Management Corp of Ontario now owns 20,270 shares of the company’s stock worth $715,000 after acquiring an additional 6,700 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in Invitation Homes by 51.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 95,072 shares of the company’s stock valued at $3,352,000 after purchasing an additional 32,357 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Invitation Homes by 7.7% during the third quarter. Janus Henderson Group PLC now owns 152,455 shares of the company’s stock worth $5,376,000 after purchasing an additional 10,900 shares during the period. HighTower Advisors LLC boosted its holdings in shares of Invitation Homes by 696.9% in the 3rd quarter. HighTower Advisors LLC now owns 70,866 shares of the company’s stock valued at $2,508,000 after buying an additional 61,973 shares during the period. Finally, Holocene Advisors LP bought a new position in Invitation Homes in the third quarter worth about $4,952,000. 96.79% of the stock is currently owned by hedge funds and other institutional investors.

Invitation Homes Stock Performance

Shares of NYSE INVH opened at $33.59 on Wednesday. The firm has a market cap of $20.58 billion, a price-to-earnings ratio of 47.31, a P/E/G ratio of 5.15 and a beta of 1.03. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.24 and a current ratio of 0.24. The business’s 50-day simple moving average is $33.82 and its 200-day simple moving average is $34.96. Invitation Homes Inc. has a 52 week low of $31.01 and a 52 week high of $37.80.

Invitation Homes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Thursday, September 26th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 3.33%. The ex-dividend date was Thursday, September 26th. Invitation Homes’s dividend payout ratio is currently 157.75%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on INVH shares. The Goldman Sachs Group began coverage on shares of Invitation Homes in a research report on Wednesday, September 4th. They set a “buy” rating and a $46.00 price target for the company. Royal Bank of Canada lowered their target price on Invitation Homes from $36.00 to $34.00 and set a “sector perform” rating on the stock in a research report on Friday, November 1st. UBS Group increased their price target on Invitation Homes from $41.00 to $42.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Evercore ISI lifted their price objective on shares of Invitation Homes from $37.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, September 16th. Finally, Bank of America lowered shares of Invitation Homes from a “buy” rating to a “neutral” rating and decreased their target price for the company from $39.00 to $37.00 in a research report on Tuesday, September 24th. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $38.80.

Invitation Homes Company 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.