Invitation Homes Inc. (NYSE:INVH) Sees Significant Drop in Short Interest

Invitation Homes Inc. (NYSE:INVH) saw a large drop in short interest during the month of November. As of November 30th, there was short interest totalling 10,740,000 shares, a drop of 10.3% from the November 15th total of 11,970,000 shares. Based on an average daily volume of 3,740,000 shares, the days-to-cover ratio is currently 2.9 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of INVH. Sequoia Financial Advisors LLC lifted its holdings in shares of Invitation Homes by 6.6% during the second quarter. Sequoia Financial Advisors LLC now owns 6,600 shares of the company’s stock valued at $237,000 after acquiring an additional 409 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of Invitation Homes by 92.0% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 12,133 shares of the company’s stock worth $435,000 after buying an additional 5,813 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of Invitation Homes during the 2nd quarter worth about $212,000. Blue Trust Inc. grew its position in shares of Invitation Homes by 644.7% during the 2nd quarter. Blue Trust Inc. now owns 1,549 shares of the company’s stock worth $55,000 after buying an additional 1,341 shares during the period. Finally, Raymond James & Associates grew its position in shares of Invitation Homes by 6.0% during the 2nd quarter. Raymond James & Associates now owns 195,593 shares of the company’s stock worth $7,020,000 after buying an additional 11,123 shares during the period. 96.79% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on INVH shares. JPMorgan Chase & Co. lifted their price objective on Invitation Homes from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. The Goldman Sachs Group started coverage on Invitation Homes in a report on Wednesday, September 4th. They set a “buy” rating and a $46.00 price objective for the company. JMP Securities reaffirmed a “market outperform” rating and set a $40.00 price objective on shares of Invitation Homes in a report on Thursday, December 12th. Evercore ISI lifted their price objective on Invitation Homes from $37.00 to $38.00 and gave the stock an “outperform” rating in a report on Monday, September 16th. Finally, Mizuho reduced their price objective on Invitation Homes from $36.00 to $35.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $38.70.

Invitation Homes Stock Performance

INVH stock traded down $0.73 during midday trading on Tuesday, hitting $32.40. 3,193,537 shares of the company traded hands, compared to its average volume of 3,332,305. Invitation Homes has a twelve month low of $31.01 and a twelve month high of $37.80. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.54. The business has a 50 day simple moving average of $33.58 and a 200-day simple moving average of $34.89. The stock has a market capitalization of $19.85 billion, a price-to-earnings ratio of 45.83, a price-to-earnings-growth ratio of 5.06 and a beta of 1.03.

Invitation Homes Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, December 26th will be paid a $0.29 dividend. This is an increase from Invitation Homes’s previous quarterly dividend of $0.28. The ex-dividend date is Thursday, December 26th. This represents a $1.16 annualized dividend and a dividend yield of 3.58%. Invitation Homes’s dividend payout ratio (DPR) is presently 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.