Invitation Homes (NYSE:INVH) Downgraded by Wells Fargo & Company to “Equal Weight”

Wells Fargo & Company downgraded shares of Invitation Homes (NYSE:INVH) from an overweight rating to an equal weight rating in a research report sent to investors on Monday morning, Marketbeat reports. They currently have $38.00 target price on the stock, up from their prior target price of $37.00.

Several other analysts have also issued reports on the company. Keefe, Bruyette & Woods lowered their target price on Invitation Homes from $38.00 to $37.00 and set a market perform rating on the stock in a research note on Tuesday, July 30th. Royal Bank of Canada decreased their price objective on Invitation Homes from $39.00 to $37.00 and set an outperform rating on the stock in a research note on Friday, July 26th. JPMorgan Chase & Co. boosted their price objective on Invitation Homes from $35.00 to $36.00 and gave the company a neutral rating in a research note on Monday, June 17th. Deutsche Bank Aktiengesellschaft upgraded Invitation Homes from a hold rating to a buy rating and boosted their price objective for the company from $35.00 to $41.00 in a research note on Wednesday, July 24th. Finally, UBS Group boosted their price objective on Invitation Homes from $41.00 to $42.00 and gave the company a buy rating in a research note on Friday, August 16th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $38.63.

Invitation Homes Stock Performance

Shares of INVH opened at $36.45 on Monday. The firm has a market cap of $22.33 billion, a PE ratio of 41.90, a PEG ratio of 4.44 and a beta of 0.99. The stock’s fifty day moving average price is $35.58 and its two-hundred day moving average price is $34.87. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.20 and a quick ratio of 0.20. Invitation Homes has a 1 year low of $28.49 and a 1 year high of $36.92.

Invitation Homes (NYSE:INVH) last issued its earnings results on Wednesday, July 24th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.34). The firm had revenue of $653.45 million during the quarter, compared to the consensus estimate of $654.70 million. Invitation Homes had a net margin of 18.75% and a return on equity of 4.68%. On average, equities research analysts forecast that Invitation Homes will post 1.83 EPS for the current year.

Invitation Homes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Thursday, June 27th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 3.07%. The ex-dividend date was Thursday, June 27th. Invitation Homes’s payout ratio is 128.74%.

Hedge Funds Weigh In On Invitation Homes

A number of hedge funds and other institutional investors have recently modified their holdings of INVH. BOK Financial Private Wealth Inc. purchased a new position in shares of Invitation Homes in the 1st quarter worth about $26,000. UMB Bank n.a. boosted its holdings in shares of Invitation Homes by 496.9% in the 2nd quarter. UMB Bank n.a. now owns 770 shares of the company’s stock worth $28,000 after purchasing an additional 641 shares in the last quarter. Family Firm Inc. purchased a new position in shares of Invitation Homes in the 2nd quarter worth about $42,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Invitation Homes in the 2nd quarter worth about $44,000. Finally, Headlands Technologies LLC purchased a new position in shares of Invitation Homes in the 2nd quarter worth about $45,000. 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.