Invitation Homes (NYSE:INVH) Shares Gap Down Following Weak Earnings

Invitation Homes Inc. (NYSE:INVH) shares gapped down before the market opened on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $35.97, but opened at $33.49. Invitation Homes shares last traded at $34.12, with a volume of 834,870 shares.

The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.34). The firm had revenue of $653.45 million during the quarter, compared to the consensus estimate of $654.70 million. Invitation Homes had a net margin of 21.75% and a return on equity of 5.29%.

Invitation Homes Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Thursday, June 27th were paid a $0.28 dividend. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.28%. Invitation Homes’s payout ratio is currently 128.74%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on INVH shares. JPMorgan Chase & Co. upped their price target on shares of Invitation Homes from $35.00 to $36.00 and gave the company a “neutral” rating in a report on Monday, June 17th. Barclays lowered their price objective on Invitation Homes from $41.00 to $40.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 29th. Evercore ISI lifted their target price on shares of Invitation Homes from $36.00 to $37.00 and gave the company an “in-line” rating in a report on Tuesday, July 9th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $38.00 price target on shares of Invitation Homes in a report on Monday, June 17th. Finally, Raymond James raised their price target on shares of Invitation Homes from $37.00 to $39.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.39.

Insider Transactions at Invitation Homes

In other news, Director Cohen Jana Barbe sold 7,200 shares of the firm’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $34.58, for a total value of $248,976.00. Following the transaction, the director now directly owns 28,068 shares of the company’s stock, valued at $970,591.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Cohen Jana Barbe sold 7,200 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $34.58, for a total value of $248,976.00. Following the completion of the sale, the director now owns 28,068 shares of the company’s stock, valued at $970,591.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Charles D. Young sold 5,000 shares of the business’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $34.85, for a total value of $174,250.00. Following the transaction, the chief operating officer now directly owns 275,296 shares in the company, valued at approximately $9,594,065.60. The disclosure for this sale can be found here. Insiders own 0.28% of the company’s stock.

Institutional Investors Weigh In On Invitation Homes

Hedge funds and other institutional investors have recently bought and sold shares of the company. Family Firm Inc. purchased a new stake in shares of Invitation Homes in the 2nd quarter valued at approximately $42,000. Tevis Investment Management lifted its holdings in Invitation Homes by 13.0% in the second quarter. Tevis Investment Management now owns 142,155 shares of the company’s stock valued at $5,142,000 after acquiring an additional 16,336 shares during the last quarter. GYL Financial Synergies LLC lifted its holdings in Invitation Homes by 3.6% in the second quarter. GYL Financial Synergies LLC now owns 52,068 shares of the company’s stock valued at $1,869,000 after acquiring an additional 1,821 shares during the last quarter. 1620 Investment Advisors Inc. grew its position in Invitation Homes by 2.3% in the second quarter. 1620 Investment Advisors Inc. now owns 18,339 shares of the company’s stock worth $658,000 after acquiring an additional 421 shares during the period. Finally, Nisa Investment Advisors LLC increased its stake in Invitation Homes by 0.7% during the second quarter. Nisa Investment Advisors LLC now owns 311,055 shares of the company’s stock worth $11,251,000 after acquiring an additional 2,074 shares during the last quarter. 96.79% of the stock is currently owned by institutional investors and hedge funds.

Invitation Homes Price Performance

The stock has a 50-day simple moving average of $35.37 and a 200 day simple moving average of $34.52. The company has a market cap of $20.90 billion, a PE ratio of 41.34, a P/E/G ratio of 2.24 and a beta of 0.99. The company has a quick ratio of 0.21, a current ratio of 0.21 and a debt-to-equity ratio of 0.53.

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.