Renaissance Technologies LLC Purchases 712,500 Shares of Invitation Homes Inc. (NYSE:INVH)

Renaissance Technologies LLC boosted its position in shares of Invitation Homes Inc. (NYSE:INVH - Free Report) by 1,394.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 763,583 shares of the company's stock after purchasing an additional 712,500 shares during the period. Renaissance Technologies LLC owned about 0.12% of Invitation Homes worth $24,412,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Lindbrook Capital LLC increased its stake in Invitation Homes by 58.4% in the 4th quarter. Lindbrook Capital LLC now owns 892 shares of the company's stock valued at $29,000 after buying an additional 329 shares during the last quarter. SRS Capital Advisors Inc. raised its holdings in Invitation Homes by 654.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 951 shares of the company's stock worth $30,000 after acquiring an additional 825 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in Invitation Homes by 58.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,024 shares of the company's stock valued at $33,000 after purchasing an additional 378 shares during the last quarter. Allworth Financial LP grew its stake in Invitation Homes by 101.2% in the fourth quarter. Allworth Financial LP now owns 1,396 shares of the company's stock valued at $43,000 after purchasing an additional 702 shares in the last quarter. Finally, Center for Financial Planning Inc. acquired a new position in shares of Invitation Homes during the 4th quarter worth approximately $48,000. Institutional investors and hedge funds own 96.79% of the company's stock.

Analyst Upgrades and Downgrades

INVH has been the subject of several analyst reports. Morgan Stanley cut shares of Invitation Homes from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $39.00 to $35.00 in a research note on Friday, January 24th. Deutsche Bank Aktiengesellschaft downgraded shares of Invitation Homes from a "buy" rating to a "hold" rating and cut their target price for the company from $41.00 to $33.00 in a research note on Tuesday, January 21st. Raymond James dropped their price objective on Invitation Homes from $40.00 to $36.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. Barclays reissued an "overweight" rating and set a $37.00 target price (up from $36.00) on shares of Invitation Homes in a report on Wednesday, March 12th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Invitation Homes from $35.00 to $36.00 and gave the stock a "market perform" rating in a research report on Wednesday, March 5th. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $37.38.

Invitation Homes Stock Performance

Invitation Homes stock traded up $0.57 during midday 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 company has a 50-day moving average price of $33.02 and a two-hundred day moving average price of $32.81. Invitation Homes Inc. has a 1-year low of $29.37 and a 1-year high of $37.80. The company has a market cap of $20.60 billion, a price-to-earnings ratio of 47.34, a PEG ratio of 4.70 and a beta of 0.86. 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 issued 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. Invitation Homes had a return on equity of 4.36% and a net margin of 17.02%. The business had revenue of $659.13 million during the quarter, compared to analysts' expectations of $658.71 million. As a group, sell-side analysts predict that Invitation Homes Inc. will post 1.83 earnings per share for the current year.

Invitation Homes Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Investors of record on Monday, March 17th were given a $0.29 dividend. 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.