Norges Bank Investment Management has recently announced that it has increased stake in Invitation Homes Inc (NYSE:INVH) by 3.44%. After grabbing 38.03 million shares, the institutional investor is now in possession of 1.27 million shares of the Real Estate Company. The new investment brought the stake of investor firm to 6.21% having worth around $1.3 billion. Moreover, Principal Global Investors LLC increased its share by 0.13 million to have a control over 20.37 million shares. And Geode Capital Management LLC raised its holdings to 0.15 million shares by acquiring 13.76 million shares or 2.25% of the stake.
Invitation Homes Inc (INVH) concluded trading on Wednesday at a closing price of $33.12, with 3.36 million shares of worth about $111.16 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -6.84% during that period and On Wednesday, January 24 the price saw a loss of about -1.81%. Currently the company’s common shares owned by public are about 611.41M shares, out of which, 609.72M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 40 times over the past 12 months. They bought 514,162 shares in 19 of the transactions. In 21 selling transactions, insiders dumped 153,335 shares.
Government Pension Fund – Global, Vanguard Real Estate Index Fund, and Vanguard Total Stock Market ETF are the top 3 mutual funds which are holding stakes in Invitation Homes Inc Government Pension Fund – Global is currently holding 37.88 million shares of worth totaling $1.29 billion. The company recently came buying 8.04 million shares which brought its stake up to 6.19% of the company’s outstanding shares. Vanguard Real Estate Index Fund sold -0.13 million shares, after which its hold over company’s outstanding shares shrunk to 4.03%, leaving 24.68 million shares with the mutual fund that have a worth of about $841.88 million. Vanguard Total Stock Market ETF, after buying 19.17 million shares, have now control over 3.13% of the stake in the company. It holds 15836.0 shares of worth $653.82 million.
However, the stock later moved at a day high price of 34.18, or with a loss of -1.81%. Stock saw a price change of 0.03% in past 5 days and over the past one month there was a price change of -3.21%. Year-to-date (YTD), INVH shares are showing a performance of -2.90% which increased to 5.28% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $28.49 but also hit the highest price of $36.53 during that period. The average intraday trading volume for Invitation Homes Inc shares is 3.12 million. The stock is currently trading -2.52% below its 20-day simple moving average (SMA20), while that difference is down -1.56% for SMA50 and it goes to -1.14% lower than SMA200.
Norges Bank Investment Management acquired 38.03 million shares of Invitation Homes Inc having value of about $1.3 billion. Data submitted at the U.S SEC by Norges Bank Investment Management revealed that the firm now holds 1.27 million shares in the company valued at close to $41924057.76, or have control over 3.44% stake in the company. Invitation Homes Inc (NYSE: INVH) currently have 611.41M outstanding shares and institutions hold larger chunk of about 104.71% of that. Holding of mutual funds in the company is about 39.97% while other institutional holders and individual stake holders have control over 65.53% and 0.82% of the stake respectively.
The stock has a current market capitalization of $20.27B and its 3Y-monthly beta is at 0.94. PE ratio of stock for trailing 12 months is 60.75, while it has posted earnings per share of $0.55 in the same period. Its PEG reads 4.66 while making debt-to-equity ratio of 0.84. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for INVH, volatility over the week remained 2.25% while standing at 1.63% over the month.
Analysts are in expectations that Invitation Homes Inc (INVH) stock would likely to be making an EPS of $0.18 in the current quarter, while forecast for next quarter EPS is $0.18 and it is $0.72 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.15 which is $0.23 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.16 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 28.58% while it is estimated to decrease by -12.33% in next year.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Exane BNP Paribas on January 22, 2024 offering an Outperform rating for the stock and assigned a target price of $39 to it.
