Invitation Homes (NYSE:INVH) posted its earnings results on Monday. The company reported $0.29 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.29, Briefing.com reports. The firm had revenue of $434.20 million for the quarter, compared to analysts’ expectations of $436.18 million. Invitation Homes had a negative net margin of 6.99% and a negative return on equity of 0.98%. The company’s revenue was up 78.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.20 earnings per share. Invitation Homes updated its FY 2018 guidance to $1.16-1.18 EPS and its FY18 guidance to $1.16-1.18 EPS.
Shares of NYSE:INVH traded up $0.29 during mid-day trading on Wednesday, reaching $21.32. 1,578,423 shares of the company’s stock were exchanged, compared to its average volume of 2,245,972. The firm has a market cap of $11.05 billion, a PE ratio of 82.00, a price-to-earnings-growth ratio of 3.15 and a beta of 0.03. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.75 and a current ratio of 0.75. Invitation Homes has a twelve month low of $20.25 and a twelve month high of $24.30.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Wednesday, November 14th will be issued a dividend of $0.11 per share. The ex-dividend date is Tuesday, November 13th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.06%. Invitation Homes’s dividend payout ratio (DPR) is presently 169.23%.
In other news, Director Barry S. Sternlicht sold 1,309,849 shares of Invitation Homes stock in a transaction on Friday, September 14th. The shares were sold at an average price of $23.55, for a total transaction of $30,846,943.95. Following the transaction, the director now owns 5,482 shares in the company, valued at $129,101.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.50% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the company. Bank of Montreal Can lifted its holdings in Invitation Homes by 338.8% in the third quarter. Bank of Montreal Can now owns 4,555 shares of the company’s stock valued at $104,000 after buying an additional 3,517 shares during the period. Point72 Hong Kong Ltd acquired a new position in Invitation Homes in the second quarter valued at $175,000. Signition LP acquired a new position in Invitation Homes in the third quarter valued at $203,000. Engineers Gate Manager LP acquired a new position in Invitation Homes in the second quarter valued at $205,000. Finally, IFM Investors Pty Ltd acquired a new position in Invitation Homes in the third quarter valued at $266,000.
Separately, Raymond James boosted their target price on shares of Invitation Homes from $26.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, August 21st. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $25.83.
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Invitation Homes Company Profile
Invitation Homes is a leading owner and operator of single-family homes for lease, offering residents high-quality homes across America. With over 80,000 homes for lease in 17 markets across the country, Invitation Homes is meeting changing lifestyle demands by providing residents access to updated homes with features they value, such as close proximity to jobs and access to good schools.
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