Franklin Resources Inc. Cuts Position in Invitation Homes Inc. (NYSE:INVH)

Franklin Resources Inc. lessened its stake in Invitation Homes Inc. (NYSE:INVH) by 11.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,446 shares of the company’s stock after selling 5,836 shares during the quarter. Franklin Resources Inc.’s holdings in Invitation Homes were worth $1,602,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in INVH. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Invitation Homes by 767.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,519,603 shares of the company’s stock valued at $194,621,000 after acquiring an additional 4,883,564 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in Invitation Homes by 9.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 11,748,855 shares of the company’s stock valued at $414,264,000 after acquiring an additional 997,353 shares in the last quarter. National Bank of Canada FI increased its holdings in Invitation Homes by 214.5% during the 3rd quarter. National Bank of Canada FI now owns 1,144,693 shares of the company’s stock valued at $40,362,000 after acquiring an additional 780,760 shares in the last quarter. FMR LLC increased its holdings in Invitation Homes by 4.2% during the 3rd quarter. FMR LLC now owns 18,813,744 shares of the company’s stock valued at $663,373,000 after acquiring an additional 753,464 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in Invitation Homes by 144.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,027,366 shares of the company’s stock valued at $36,225,000 after acquiring an additional 607,163 shares in the last quarter. Hedge funds and other institutional investors own 96.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on INVH shares. Keefe, Bruyette & Woods dropped their target price on shares of Invitation Homes from $37.00 to $35.00 and set a “market perform” rating for the company in a report on Wednesday, November 6th. Barclays started coverage on shares of Invitation Homes in a report on Tuesday, December 17th. They set an “overweight” rating and a $38.00 target price for the company. Evercore ISI raised their price target on shares of Invitation Homes from $37.00 to $38.00 and gave the stock an “outperform” rating in a research note on Monday, September 16th. JMP Securities reaffirmed a “market outperform” rating and set a $40.00 price target on shares of Invitation Homes in a research note on Thursday, December 12th. Finally, Royal Bank of Canada decreased their price target on shares of Invitation Homes from $36.00 to $34.00 and set a “sector perform” rating on the stock in a research note on Friday, November 1st. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Invitation Homes presently has an average rating of “Moderate Buy” and an average price target of $38.79.

Invitation Homes Price Performance

INVH opened at $32.10 on Friday. The company’s 50 day simple moving average is $33.34 and its 200 day simple moving average is $34.74. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.24 and a current ratio of 0.24. Invitation Homes Inc. has a 1 year low of $31.01 and a 1 year high of $37.80. The stock has a market capitalization of $19.66 billion, a PE ratio of 45.21, a P/E/G ratio of 5.06 and a beta of 1.03.

Invitation Homes Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, December 26th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.61%. This is a boost from Invitation Homes’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Thursday, December 26th. Invitation Homes’s payout ratio is 163.38%.

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.