Invitation Homes Inc. (NYSE:INVH) Raises Dividend to $0.29 Per Share

Invitation Homes Inc. (NYSE:INVH) declared a quarterly dividend on Friday, December 13th,RTT News reports. Investors of record on Thursday, December 26th will be paid a dividend of 0.29 per share on Friday, January 17th. This represents a $1.16 annualized dividend and a yield of 3.51%. This is a positive change from Invitation Homes’s previous quarterly dividend of $0.28.

Invitation Homes has raised its dividend by an average of 30.1% per year over the last three years. Invitation Homes has a dividend payout ratio of 145.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Invitation Homes to earn $1.92 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 58.3%.

Invitation Homes Stock Performance

NYSE:INVH opened at $33.07 on Friday. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.54. Invitation Homes has a 1-year low of $31.01 and a 1-year high of $37.80. The stock’s 50-day moving average is $33.60 and its 200-day moving average is $34.88. The stock has a market cap of $20.26 billion, a P/E ratio of 46.58, a price-to-earnings-growth ratio of 5.06 and a beta of 1.03.

Analyst Ratings Changes

A number of equities analysts recently weighed in on INVH shares. Scotiabank lowered their target price on shares of Invitation Homes from $38.00 to $37.00 and set a “sector perform” rating for the company in a research note on Tuesday, September 10th. UBS Group boosted their price objective on Invitation Homes from $41.00 to $42.00 and gave the company a “buy” rating in a research note on Friday, August 16th. JMP Securities reaffirmed a “market outperform” rating and set a $40.00 target price on shares of Invitation Homes in a research note on Thursday. Wells Fargo & Company lowered Invitation Homes from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $37.00 to $38.00 in a research note on Monday, August 26th. Finally, Bank of America downgraded shares of Invitation Homes from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $39.00 to $37.00 in a research report on Tuesday, September 24th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $38.80.

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.