New York Life Investment Management LLC Trims Stake in Invitation Homes Inc. (NYSE:INVH)

New York Life Investment Management LLC trimmed its position in shares of Invitation Homes Inc. (NYSE:INVH - Free Report) by 45.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 84,679 shares of the company's stock after selling 71,410 shares during the quarter. New York Life Investment Management LLC's holdings in Invitation Homes were worth $2,707,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Assenagon Asset Management S.A. raised its stake in shares of Invitation Homes by 11.4% in the third quarter. Assenagon Asset Management S.A. now owns 6,571 shares of the company's stock worth $232,000 after purchasing an additional 675 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Invitation Homes by 6.2% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 12,885 shares of the company's stock valued at $454,000 after buying an additional 752 shares during the last quarter. First Trust Direct Indexing L.P. grew its holdings in Invitation Homes by 15.7% during the third quarter. First Trust Direct Indexing L.P. now owns 10,680 shares of the company's stock worth $377,000 after buying an additional 1,450 shares in the last quarter. Farther Finance Advisors LLC raised its position in Invitation Homes by 7.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 18,928 shares of the company's stock valued at $667,000 after buying an additional 1,235 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in Invitation Homes by 8.7% during the 3rd quarter. Van ECK Associates Corp now owns 250,818 shares of the company's stock valued at $8,706,000 after acquiring an additional 20,104 shares in the last quarter. 96.79% of the stock is owned by institutional investors and hedge funds.

Invitation Homes Stock Performance

Invitation Homes stock traded down $0.40 during midday trading on Thursday, reaching $33.67. The stock had a trading volume of 1,150,467 shares, compared to its average volume of 2,942,259. The firm has a market capitalization of $20.63 billion, a PE ratio of 47.44, a P/E/G ratio of 4.70 and a beta of 1.03. Invitation Homes Inc. has a 12 month low of $30.13 and a 12 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 firm's 50-day moving average price is $31.62 and its 200 day moving average price is $33.41.

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

Invitation Homes Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, December 26th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date of this dividend was Thursday, December 26th. This is a positive change from Invitation Homes's previous quarterly dividend of $0.28. Invitation Homes's payout ratio is presently 158.90%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Keefe, Bruyette & Woods increased their target price on shares of Invitation Homes from $35.00 to $36.00 and gave the company a "market perform" rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft lowered shares of Invitation Homes from a "buy" rating to a "hold" rating and decreased their price objective for the company from $41.00 to $33.00 in a research note on Tuesday, January 21st. JMP Securities restated a "market outperform" rating and issued a $40.00 target price on shares of Invitation Homes in a research note on Thursday, December 12th. Barclays reduced their target price on Invitation Homes from $38.00 to $36.00 and set an "overweight" rating for the company in a report on Friday, January 24th. Finally, Morgan Stanley lowered Invitation Homes from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $39.00 to $35.00 in a report on Friday, January 24th. Eleven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $37.53.

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.