Invitation Homes (NYSE:INVH) Sees Unusually-High Trading Volume – Still a Buy?

Invitation Homes Inc. (NYSE:INVH) saw an uptick in trading volume on Thursday . 2,420,630 shares were traded during trading, a decline of 19% from the previous session’s volume of 2,972,935 shares.The stock last traded at $30.56 and had previously closed at $30.50.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on INVH. Royal Bank of Canada lowered their target price on shares of Invitation Homes from $36.00 to $34.00 and set a “sector perform” rating for the company in a report on Friday, November 1st. Barclays assumed coverage on shares of Invitation Homes in a research note on Tuesday, December 17th. They issued an “overweight” rating and a $38.00 price objective for the company. Bank of America cut Invitation Homes from a “buy” rating to a “neutral” rating and cut their target price for the stock from $39.00 to $37.00 in a research report on Tuesday, September 24th. Mizuho dropped their price target on Invitation Homes from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Thursday, October 10th. Finally, Keefe, Bruyette & Woods cut their price target on Invitation Homes from $37.00 to $35.00 and set a “market perform” rating on the stock in a research report on Wednesday, November 6th. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Invitation Homes has an average rating of “Hold” and a consensus target price of $38.29.

Invitation Homes Trading Up 0.7 %

The firm has a market capitalization of $19.18 billion, a price-to-earnings ratio of 44.09, a price-to-earnings-growth ratio of 4.44 and a beta of 1.04. The business’s 50 day moving average price is $32.71 and its 200-day moving average price is $34.27. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.24 and a quick ratio of 0.24.

Invitation Homes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, December 26th were issued a $0.29 dividend. This is a boost from Invitation Homes’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a dividend yield of 3.71%. The ex-dividend date was Thursday, December 26th. Invitation Homes’s dividend payout ratio (DPR) is currently 163.38%.

Institutional Investors Weigh In On Invitation Homes

Several institutional investors have recently made changes to their positions in the stock. Paladin Wealth LLC acquired a new stake in shares of Invitation Homes in the 3rd quarter worth approximately $40,000. Assetmark Inc. boosted its position in Invitation Homes by 1,664.9% during the third quarter. Assetmark Inc. now owns 1,306 shares of the company’s stock worth $46,000 after purchasing an additional 1,232 shares in the last quarter. Brooklyn Investment Group acquired a new stake in Invitation Homes in the third quarter valued at $49,000. Huntington National Bank grew its holdings in Invitation Homes by 53.2% in the third quarter. Huntington National Bank now owns 2,014 shares of the company’s stock valued at $71,000 after purchasing an additional 699 shares during the last quarter. Finally, Intact Investment Management Inc. purchased a new position in shares of Invitation Homes in the third quarter valued at $74,000. 96.79% of the stock is currently owned by hedge funds and other institutional investors.

About Invitation Homes

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.