Sumitomo Mitsui Asset Management Company LTD reduced its position in shares of Invitation Home Inc. (NYSE:INVH) by 60.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 130,409 shares of the company’s stock after selling 199,320 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Invitation Home were worth $2,820,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Salem Investment Counselors Inc. purchased a new position in Invitation Home during the first quarter worth about $109,000. PNC Financial Services Group Inc. purchased a new position in Invitation Home during the first quarter worth about $111,000. SG Americas Securities LLC purchased a new position in Invitation Home during the first quarter worth about $112,000. State of Alaska Department of Revenue purchased a new position in Invitation Home during the second quarter worth about $136,000. Finally, Meeder Asset Management Inc. purchased a new position in Invitation Home during the second quarter worth about $157,000.
Invitation Home Inc. (NYSE:INVH) traded up 0.87% during trading on Friday, hitting $21.92. 4,896,880 shares of the stock were exchanged. Invitation Home Inc. has a 52 week low of $19.80 and a 52 week high of $22.43. The firm’s 50-day moving average is $21.47 and its 200 day moving average is $21.46. The firm’s market cap is $6.80 billion.
Invitation Home (NYSE:INVH) last posted its earnings results on Thursday, August 10th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.24 by $0.01. The business had revenue of $242.22 million for the quarter, compared to the consensus estimate of $240.58 million. Invitation Home’s revenue was up 5.1% compared to the same quarter last year. Analysts expect that Invitation Home Inc. will post ($0.09) earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Tuesday, August 15th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, August 11th. This is an increase from Invitation Home’s previous quarterly dividend of $0.06. This represents a $0.32 annualized dividend and a dividend yield of 1.46%.
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A number of equities analysts have issued reports on INVH shares. Royal Bank Of Canada reiterated an “outperform” rating and set a $24.00 target price (up previously from $23.00) on shares of Invitation Home in a report on Tuesday, May 16th. Evercore ISI started coverage on Invitation Home in a report on Monday, June 5th. They set an “outperform” rating and a $24.00 target price for the company. Zelman & Associates upgraded Invitation Home from a “hold” rating to a “buy” rating in a report on Friday, June 23rd. Zacks Investment Research upgraded Invitation Home from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a report on Wednesday, July 12th. Finally, FBR & Co reiterated a “buy” rating on shares of Invitation Home in a report on Saturday, May 13th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $24.08.
Invitation Home Company Profile
Invitation Homes Inc is a real estate investment trust. The Company owns and operates single-family homes for lease in the United States. The Company’s segment relates to acquiring, renovating, leasing and operating single-family homes as rental properties, including single-family homes in planned unit developments.
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