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

Invitation Homes Inc. (NYSE:INVH - Get Free Report) announced a quarterly dividend on Friday, March 14th, RTT News reports. Investors of record on Thursday, March 27th will be given a dividend of 0.29 per share on Thursday, April 17th. This represents a $1.16 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date is Thursday, March 27th.

Invitation Homes has raised its dividend by an average of 18.5% annually 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. 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 stock traded up $0.20 during midday trading on Tuesday, reaching $34.01. 3,400,913 shares of the company's stock traded hands, compared to its average volume of 3,069,729. The company has a 50-day simple moving average of $31.97 and a two-hundred day simple moving average of $33.24. Invitation Homes has a 1-year low of $30.13 and a 1-year high of $37.80. The company has a market cap of $20.84 billion, a price-to-earnings ratio of 47.90, a PEG ratio of 4.70 and a beta of 1.03. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.54.

Invitation Homes (NYSE:INVH - Get Free Report) last released its earnings results on Wednesday, February 26th. The company reported $0.47 EPS 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%. On average, analysts anticipate that Invitation Homes will post 1.83 earnings per share for the current year.

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Analysts Set New Price Targets

Several equities research analysts have recently commented on INVH shares. Deutsche Bank Aktiengesellschaft cut Invitation Homes from a "buy" rating to a "hold" rating and lowered their target price for the company from $41.00 to $33.00 in a research note on Tuesday, January 21st. Keefe, Bruyette & Woods lifted their target price on Invitation Homes from $35.00 to $36.00 and gave the company a "market perform" rating in a research note on Wednesday, March 5th. Mizuho raised Invitation Homes from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $33.00 to $36.00 in a research note on Thursday, March 13th. Jefferies Financial Group lowered Invitation Homes from a "buy" rating to a "hold" rating and reduced their price target for the stock from $39.00 to $33.00 in a research report on Thursday, January 2nd. Finally, Morgan Stanley lowered Invitation Homes from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $39.00 to $35.00 in a research report on Friday, January 24th. Ten analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $37.65.

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.