Bank of Nova Scotia Raises Stake in Invitation Homes Inc. (NYSE:INVH)

Bank of Nova Scotia increased its position in shares of Invitation Homes Inc. (NYSE:INVH - Free Report) by 47.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 110,846 shares of the company's stock after purchasing an additional 35,867 shares during the period. Bank of Nova Scotia's holdings in Invitation Homes were worth $3,544,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Bank of Montreal Can boosted its position in shares of Invitation Homes by 0.7% in the fourth quarter. Bank of Montreal Can now owns 577,878 shares of the company's stock valued at $18,475,000 after acquiring an additional 3,761 shares during the period. Unigestion Holding SA acquired a new stake in Invitation Homes in the 4th quarter worth about $895,000. Aster Capital Management DIFC Ltd bought a new stake in Invitation Homes in the 4th quarter valued at about $1,109,000. Ilmarinen Mutual Pension Insurance Co grew its position in shares of Invitation Homes by 124.4% during the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 101,000 shares of the company's stock worth $3,229,000 after purchasing an additional 56,000 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Invitation Homes by 4.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 574,803 shares of the company's stock worth $18,376,000 after purchasing an additional 23,515 shares during the period. 96.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Mizuho raised Invitation Homes from a "neutral" rating to an "outperform" rating and increased their price target for the stock from $33.00 to $36.00 in a research report on Thursday, March 13th. Morgan Stanley lowered Invitation Homes from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $39.00 to $35.00 in a report on Friday, January 24th. Jefferies Financial Group downgraded Invitation Homes from a "buy" rating to a "hold" rating and dropped their price target for the company from $39.00 to $33.00 in a research note on Thursday, January 2nd. Raymond James decreased their target price on shares of Invitation Homes from $40.00 to $36.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Finally, Barclays reaffirmed an "overweight" rating and set a $37.00 price target (up previously from $36.00) on shares of Invitation Homes in a report on Wednesday, March 12th. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $37.38.

Invitation Homes Trading Up 1.7 %

Shares of Invitation Homes stock traded up $0.57 during trading on Friday, hitting $33.61. The company's stock had a trading volume of 2,561,738 shares, compared to its average volume of 3,355,156. The stock has a market cap of $20.60 billion, a price-to-earnings ratio of 47.34, a price-to-earnings-growth ratio of 4.70 and a beta of 0.86. Invitation Homes Inc. has a 52 week low of $29.37 and a 52 week high of $37.80. The stock has a 50-day moving average price of $33.02 and a two-hundred day moving average price of $32.81. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.24 and a quick ratio of 0.24.

Invitation Homes (NYSE:INVH - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The company reported $0.47 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.47. Invitation Homes had a net margin of 17.02% and a return on equity of 4.36%. The firm had revenue of $659.13 million during the quarter, compared to analyst estimates of $658.71 million. Equities research analysts anticipate that Invitation Homes Inc. will post 1.83 EPS for the current fiscal year.

Invitation Homes Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Investors of record on Monday, March 17th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date was Thursday, March 27th. Invitation Homes's payout ratio is currently 158.90%.

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.