Investors Buy High Volume of Put Options on Invitation Homes (NYSE:INVH)

Posted by Defense World Staff on Apr 13th, 2023

Invitation Homes Inc. (NYSE:INVH – Get Rating) was the target of some unusual options trading activity on Wednesday. Investors acquired 5,350 put options on the company. This is an increase of 103% compared to the average volume of 2,640 put options.

Hedge Funds Weigh In On Invitation Homes

Hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC increased its position in shares of Invitation Homes by 40.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 131,614 shares of the company’s stock valued at $4,444,000 after purchasing an additional 37,595 shares during the last quarter. Credit Suisse AG increased its position in shares of Invitation Homes by 2.8% during the 3rd quarter. Credit Suisse AG now owns 805,602 shares of the company’s stock valued at $27,206,000 after purchasing an additional 21,807 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Invitation Homes by 3.3% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 125,527 shares of the company’s stock valued at $3,721,000 after acquiring an additional 4,038 shares during the period. Aviva PLC grew its stake in shares of Invitation Homes by 2.4% during the 3rd quarter. Aviva PLC now owns 532,576 shares of the company’s stock valued at $17,985,000 after acquiring an additional 12,652 shares during the period. Finally, State Board of Administration of Florida Retirement System grew its stake in shares of Invitation Homes by 0.5% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 681,886 shares of the company’s stock valued at $23,027,000 after acquiring an additional 3,528 shares during the period. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Invitation Homes Stock Performance

Shares of INVH stock opened at $31.96 on Thursday. Invitation Homes has a 12 month low of $28.52 and a 12 month high of $44.36. The stock has a market cap of $19.56 billion, a PE ratio of 51.55, a price-to-earnings-growth ratio of 2.76 and a beta of 0.90. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.53. The company’s fifty day moving average price is $31.49 and its 200-day moving average price is $31.59.

Invitation Homes (NYSE:INVH – Get Rating) last issued its earnings results on Wednesday, February 15th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.25). Invitation Homes had a return on equity of 3.89% and a net margin of 17.10%. The business had revenue of $579.84 million during the quarter, compared to analysts’ expectations of $566.68 million. On average, equities analysts expect that Invitation Homes will post 1.72 EPS for the current fiscal year.

Invitation Homes Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 28th. Shareholders of record on Tuesday, February 14th were given a $0.26 dividend. This is a positive change from Invitation Homes’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Monday, February 13th. This represents a $1.04 dividend on an annualized basis and a yield of 3.25%. Invitation Homes’s payout ratio is 167.74%.

Wall Street Analyst Weigh In

INVH has been the topic of a number of recent analyst reports. Credit Suisse Group downgraded shares of Invitation Homes from an “outperform” rating to a “neutral” rating and set a $31.00 target price on the stock. in a research note on Monday, January 9th. Barclays decreased their price target on shares of Invitation Homes from $39.00 to $38.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 15th. JPMorgan Chase & Co. downgraded shares of Invitation Homes from an “overweight” rating to a “neutral” rating and set a $35.00 price target on the stock. in a research note on Friday, December 16th. Scotiabank began coverage on shares of Invitation Homes in a research note on Tuesday, January 17th. They set a “sector perform” rating and a $30.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft cut shares of Invitation Homes from a “buy” rating to a “hold” rating and cut their target price for the stock from $44.00 to $34.00 in a report on Wednesday, January 4th. Ten equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Invitation Homes currently has a consensus rating of “Hold” and an average target price of $35.32.

Invitation Homes Company Profile

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Invitation Homes, Inc engages in the acquisition, renovation, leasing, and operation of single-family homes as rental properties, including single-family homes in planned unit developments. Its services include property management, selection of homes, maintenance program, and online payment. The company was founded by Marcus Ridgway, Dallas Tanner, and Brad Greiwe in 2012 and is headquartered in Dallas, TX.