Cohen & Steers Capital Management.. recently announced the acquisition of new stake in Invitation Homes Inc. (NYSE:INVH). The institutional investor has increased its shareholding in the Real Estate company by 22.68% to 38.09 million shares with purchase of 7.04 million shares. This fresh investment now brings its stake to 7.01% valued currently at $1.14 billion. In addition, Principal Global Investors LLC raised its holdings by 0.11 million to 26.72 million shares. And APG Asset Management US, Inc. has lifted its position by 4.88% or 0.85 million shares – to 18.26 million shares.
With over 4.77 million Invitation Homes Inc. (INVH) shares trading Tuesday and a closing price of $28.77 on the day, the dollar volume was approximately $137.19 million. The shares have shown a negative weekly performance of -0.59% and its price on 09/01/20 gained nearly 0.49%. Currently, there are 560.53M common shares owned by the public and among those 558.71M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 17 analysts who have offered their price forecasts for INVH have a consensus price objective of $32.31. The analysts have set the share’s price value over the next 12 months at a high of $37.00 and a low of $29.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Invitation Homes Inc. stock is 2.00 for the next 12 months. The average price target is 11.01% above its last price level and an upside to the estimated low will see the stock gain 0.79% over that period. But an upside of 22.24% will see the stock hit the forecast high price target while mean target price for the stock is $32.00.
Insiders at the company have transacted a total of 160 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 22 of these insider trades were purchases, accounting for 244,399 shares. Insider sales of the common stock occurred on 138 occasions, with total insider shares sold totaling 713,012,814 shares.
The top 3 mutual fund holders in Invitation Homes Inc. are Vanguard Real Estate Index Fund, Stichting Pensioenfonds ABP (Glob, and Vanguard Total Stock Market Index. Vanguard Real Estate Index Fund owns 24.18 million shares of the company’s stock, all valued at over $720.95 million. The company sold -0.12 million shares recently to bring their total holdings to about 4.45% of the shares outstanding. Stichting Pensioenfonds ABP (Glob bought 2.73 million shares to see its total holdings expand to 19.63 million shares valued at over $585.25 million and representing 3.61% of the shares outstanding. Vanguard Total Stock Market Index sold 35857.0 shares to bring its total holdings to over 15.86 million shares at a value of $473.04 million. Vanguard Total Stock Market Index now owns shares totaling to 2.92% of the shares outstanding.
Shares of Invitation Homes Inc. (NYSE: INVH) opened at $28.61, down -$0.02 from a prior closing price of $28.63. However, the script later closed the day at $28.77, up 0.49%. The company’s stock has a 5-day price change of -0.59% and 3.41% over the past three months. INVH shares are trading -4.00% year to date (YTD), with the 12-month market performance down to -1.24% lower. It has a 12-month low price of $15.64 and touched a high of $32.70 over the same period. Currently, 4.77 million shares have been traded, compared to an average intraday trading volume of 3.60 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -1.43%, 1.07%, and 4.33% respectively.
Institutional ownership of Invitation Homes Inc. (NYSE: INVH) 560.53M shares outstanding. Mutual fund holders own 51.53%, while other institutional holders and individual stakeholders account for 57.91% and 0.74% respectively.
It has a market capitalization of $16.22B and a beta (3y monthly) value of 0.85. The stock’s trailing 12-month PE ratio is 87.71, while the earnings-per-share (ttm) stands at $0.33. The company has a debt-to-equity ratio at 1.01. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.59% over the week and 2.21% over the month.
Analysts forecast that Invitation Homes Inc. (INVH) will achieve an EPS of $0.04 for the current quarter, $0.05 for the next quarter and $0.28 for 2021. The lowest estimate earnings-per-share for the quarter is $0.02 while analysts give the company a high EPS estimate of $0.07. Comparatively, EPS for the current quarter was $0.06 a year ago. Earnings per share for the fiscal year are expected to decrease by 0.00%, and 4.49% over the next financial year. EPS should shrink at an annualized rate of -1.50% over the next five years, compared to 18.20% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 17 brokerage firm advisors rate Invitation Homes Inc. (INVH) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 13 Wall Street analysts polled rate the stock as a buy, while 3 of the 17 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the INVH, a number of firms have released research notes about the stock. Morgan Stanley stated their Overweight rating for the stock in a research note on August 12, 2020, with the firm’s price target at $34. Janney coverage for the Invitation Homes Inc. (INVH) stock in a research note released on June 18, 2020 offered a Buy rating with a price target of $34. Mizuho was of a view on April 29, 2020 that the stock is Buy, while Morgan Stanley gave the stock Equal-Weight rating on April 16, 2020, issuing a price target of $22. Wells Fargo on their part issued Overweight rating on February 18, 2020.