Invitation Homes Inc. Declares Quarterly Dividend of $0.29 (NYSE:INVH)

Invitation Homes Inc. (NYSE:INVH) declared a quarterly dividend on Friday, March 14th, RTT News reports. Stockholders of record on Monday, March 17th will be paid a dividend of 0.29 per share on Thursday, April 17th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.53%.

Invitation Homes has raised its dividend by an average of 18.5% per year over the last three years. Invitation Homes has a payout ratio of 148.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Invitation Homes to earn $1.89 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 61.4%.

Invitation Homes Price Performance

INVH opened at $32.88 on Friday. The firm has a 50-day moving average price of $31.83 and a 200-day moving average price of $33.34. Invitation Homes has a twelve month low of $30.13 and a twelve month high of $37.80. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $20.14 billion, a price-to-earnings ratio of 46.30, a PEG ratio of 4.70 and a beta of 1.03.

Invitation Homes (NYSE:INVH) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $0.47 earnings per share for the quarter, meeting the consensus estimate of $0.47. The company had revenue of $659.13 million during the quarter, compared to analysts’ expectations of $658.71 million. Invitation Homes had a return on equity of 4.36% and a net margin of 17.02%. Equities analysts expect that Invitation Homes will post 1.83 EPS for the current year.

Analyst Ratings Changes

INVH has been the subject of a number of analyst reports. JMP Securities restated a “market outperform” rating and issued a $40.00 price objective on shares of Invitation Homes in a research report on Thursday, December 12th. Mizuho raised shares of Invitation Homes from a “neutral” rating to an “outperform” rating and raised their price target for the company from $33.00 to $36.00 in a report on Thursday. Jefferies Financial Group lowered shares of Invitation Homes from a “buy” rating to a “hold” rating and reduced their price target for the company from $39.00 to $33.00 in a research report on Thursday, January 2nd. Keefe, Bruyette & Woods increased their price objective on Invitation Homes from $35.00 to $36.00 and gave the stock a “market perform” rating in a research report on Wednesday, March 5th. Finally, Barclays restated an “overweight” rating and set a $37.00 target price (up from $36.00) on shares of Invitation Homes in a research report on Wednesday. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Invitation Homes currently has a consensus rating of “Hold” and a consensus price target of $37.65.

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.