Principal Financial Group Inc. Lowers Stake in Invitation Homes Inc. (NYSE:INVH)

Principal Financial Group Inc. lowered its stake in shares of Invitation Homes Inc. (NYSE:INVH - Free Report) by 2.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,460,248 shares of the company's stock after selling 591,408 shares during the period. Principal Financial Group Inc. owned approximately 3.18% of Invitation Homes worth $622,141,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Assetmark Inc. lifted its stake in Invitation Homes by 1,664.9% in the 3rd quarter. Assetmark Inc. now owns 1,306 shares of the company's stock valued at $46,000 after acquiring an additional 1,232 shares in the last quarter. Brooklyn Investment Group bought a new stake in Invitation Homes in the 3rd quarter valued at approximately $49,000. Allworth Financial LP lifted its stake in Invitation Homes by 101.2% in the 4th quarter. Allworth Financial LP now owns 1,396 shares of the company's stock valued at $43,000 after acquiring an additional 702 shares in the last quarter. Center for Financial Planning Inc. bought a new stake in Invitation Homes in the 4th quarter valued at approximately $48,000. Finally, Huntington National Bank lifted its stake in Invitation Homes by 53.2% in the 3rd quarter. Huntington National Bank now owns 2,014 shares of the company's stock valued at $71,000 after acquiring an additional 699 shares in the last quarter. Institutional investors own 96.79% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on INVH shares. Jefferies Financial Group cut Invitation Homes from a "buy" rating to a "hold" rating and cut their target price for the company from $39.00 to $33.00 in a research note on Thursday, January 2nd. Royal Bank of Canada lowered their price target on Invitation Homes from $36.00 to $34.00 and set a "sector perform" rating on the stock in a research report on Friday, November 1st. Barclays lowered their price target on Invitation Homes from $38.00 to $36.00 and set an "overweight" rating on the stock in a research report on Friday, January 24th. Morgan Stanley lowered Invitation Homes from an "overweight" rating to an "equal weight" rating and lowered their price target for the stock from $39.00 to $35.00 in a research report on Friday, January 24th. Finally, Keefe, Bruyette & Woods lowered their price target on Invitation Homes from $37.00 to $35.00 and set a "market perform" rating on the stock in a research report on Wednesday, November 6th. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $37.47.

Invitation Homes Stock Performance

Invitation Homes stock traded down $0.02 during trading on Wednesday, reaching $31.88. The company had a trading volume of 1,221,693 shares, compared to its average volume of 2,754,209. Invitation Homes Inc. has a 52 week low of $30.13 and a 52 week high of $37.80. The firm's 50-day simple moving average is $31.59 and its 200 day simple moving average is $33.61. The firm has a market capitalization of $19.53 billion, a price-to-earnings ratio of 44.87, a price-to-earnings-growth ratio of 4.59 and a beta of 1.04. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.54.

Invitation Homes Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, December 26th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.64%. This is a boost from Invitation Homes's previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Thursday, December 26th. Invitation Homes's payout ratio is 163.38%.

Invitation Homes 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.