Invitation Homes (NYSE:INVH) Downgraded by Bank of America

Bank of America lowered shares of Invitation Homes (NYSE:INVH) from a buy rating to a neutral rating in a research note issued to investors on Tuesday morning, MarketBeat Ratings reports. The firm currently has $37.00 price target on the stock, down from their previous price target of $39.00.

Other equities analysts have also recently issued research reports about the company. Wells Fargo & Company cut Invitation Homes from an overweight rating to an equal weight rating and raised their price target for the company from $37.00 to $38.00 in a report on Monday, August 26th. Royal Bank of Canada cut Invitation Homes from an outperform rating to a sector perform rating and decreased their price target for the company from $37.00 to $36.00 in a report on Monday, September 9th. Barclays decreased their price target on Invitation Homes from $41.00 to $40.00 and set an overweight rating on the stock in a report on Wednesday, May 29th. Scotiabank cut their target price on Invitation Homes from $38.00 to $37.00 and set a sector perform rating on the stock in a research note on Tuesday, September 10th. Finally, Deutsche Bank Aktiengesellschaft raised Invitation Homes from a hold rating to a buy rating and increased their target price for the company from $35.00 to $41.00 in a research note on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $39.00.

Invitation Homes Price Performance

Shares of INVH stock opened at $35.00 on Tuesday. The stock’s fifty day moving average is $35.79 and its 200-day moving average is $35.25. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.20 and a current ratio of 0.20. The stock has a market capitalization of $21.44 billion, a PE ratio of 40.23, a PEG ratio of 4.56 and a beta of 1.01. Invitation Homes has a 52 week low of $28.49 and a 52 week high of $37.80.

Invitation Homes (NYSE:INVH) last posted its quarterly 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%. Equities research analysts expect that Invitation Homes will post 1.83 EPS for the current fiscal year.

Invitation Homes Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, September 26th will be issued a dividend of $0.28 per share. The ex-dividend date is Thursday, September 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.20%. Invitation Homes’s payout ratio is presently 128.74%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. BOK Financial Private Wealth Inc. bought a new position in shares of Invitation Homes during the first quarter worth about $26,000. UMB Bank n.a. grew its holdings in shares of Invitation Homes by 496.9% during the second quarter. UMB Bank n.a. now owns 770 shares of the company’s stock worth $28,000 after buying an additional 641 shares in the last quarter. Family Firm Inc. bought a new position in shares of Invitation Homes during the second quarter worth about $42,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Invitation Homes during the second quarter worth about $44,000. Finally, Headlands Technologies LLC bought a new position in shares of Invitation Homes during the second quarter worth about $45,000. 96.79% of the stock is currently owned by institutional investors.

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.