Invitation Homes Inc. (NYSE:INVH) Declares Quarterly Dividend of $0.29

Invitation Homes Inc. (NYSE:INVH) declared a quarterly dividend on Friday, December 13th,RTT News reports. Stockholders 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 dividend on an annualized basis and a dividend 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 payment 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 Down 0.3 %

NYSE:INVH opened at $33.07 on Friday. The company has a market cap of $20.26 billion, a price-to-earnings ratio of 46.58, a P/E/G ratio of 5.06 and a beta of 1.03. Invitation Homes has a 52-week low of $31.01 and a 52-week high of $37.80. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.24 and a current ratio of 0.24. The stock’s fifty day moving average price is $33.60 and its two-hundred day moving average price is $34.88.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on INVH. UBS Group increased their price objective on shares of Invitation Homes from $41.00 to $42.00 and gave the company a “buy” rating in a report on Friday, August 16th. Mizuho decreased their price objective on Invitation Homes from $36.00 to $35.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. JPMorgan Chase & Co. boosted their target price on Invitation Homes from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. The Goldman Sachs Group initiated coverage on shares of Invitation Homes in a research report on Wednesday, September 4th. They issued a “buy” rating and a $46.00 price target on the stock. Finally, 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. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company 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.