American International Group Inc. Lowers Stake in Invitation Homes Inc. (NYSE:INVH)

Posted by Defense World Staff on Jun 4th, 2023

American International Group Inc. cut its holdings in shares of Invitation Homes Inc. (NYSE:INVH – Get Rating) by 2.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 157,531 shares of the company’s stock after selling 3,597 shares during the period. American International Group Inc.’s holdings in Invitation Homes were worth $4,669,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quent Capital LLC increased its stake in shares of Invitation Homes by 115.4% during the third quarter. Quent Capital LLC now owns 911 shares of the company’s stock worth $31,000 after purchasing an additional 488 shares in the last quarter. MADDEN SECURITIES Corp acquired a new position in shares of Invitation Homes during the fourth quarter valued at approximately $30,000. Covestor Ltd lifted its position in shares of Invitation Homes by 848.0% in the first quarter. Covestor Ltd now owns 2,351 shares of the company’s stock valued at $94,000 after acquiring an additional 2,103 shares in the last quarter. Bessemer Group Inc. boosted its stake in shares of Invitation Homes by 29,250.0% in the third quarter. Bessemer Group Inc. now owns 2,935 shares of the company’s stock worth $99,000 after acquiring an additional 2,925 shares during the last quarter. Finally, Centaurus Financial Inc. purchased a new stake in shares of Invitation Homes during the first quarter worth approximately $119,000. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Invitation Homes Price Performance

Invitation Homes stock opened at $34.49 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.12 and a current ratio of 0.12. The company’s 50 day simple moving average is $32.80 and its 200-day simple moving average is $31.82. Invitation Homes Inc. has a 1 year low of $28.52 and a 1 year high of $40.20. The company has a market capitalization of $21.11 billion, a price-to-earnings ratio of 51.48, a price-to-earnings-growth ratio of 2.79 and a beta of 0.91.

Invitation Homes (NYSE:INVH – Get Rating) last issued its quarterly earnings results on Monday, May 1st. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.23). Invitation Homes had a net margin of 17.88% and a return on equity of 3.98%. The business had revenue of $589.89 million during the quarter, compared to analysts’ expectations of $575.07 million. As a group, equities research analysts expect that Invitation Homes Inc. will post 1.73 earnings per share for the current year.

Invitation Homes Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 26th. Stockholders of record on Wednesday, May 10th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 3.02%. The ex-dividend date of this dividend was Tuesday, May 9th. Invitation Homes’s payout ratio is presently 155.22%.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Wells Fargo & Company initiated coverage on Invitation Homes in a report on Tuesday, March 28th. They issued an “overweight” rating and a $33.50 price objective on the stock. Mizuho raised their price target on shares of Invitation Homes from $32.00 to $35.00 in a research note on Friday, May 19th. Finally, Barclays upped their price objective on shares of Invitation Homes from $38.00 to $41.00 in a research note on Wednesday. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $35.09.

Invitation Homes 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.