filings.toolsItem 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS, AND ISSUER PURCHASES OF EQUITY SECURITIES
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Item 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS, AND ISSUER PURCHASES OF EQUITY SECURITIES
Market Information
Our common stock is listed on the NYSE under the symbol “INVH.”
Holders
As of February 14, 2020, there were 67 holders of record of 541,882,811 shares of common stock outstanding. This does not include the number of stockholders who hold shares of our common stock through banks, brokers, and other financial institutions.
Dividends
We have elected to qualify as a REIT for United States federal income tax purposes. The Code generally requires that a REIT annually distribute at least 90% of its REIT taxable income, determined without regard to the deduction for dividends paid and excluding any net capital gain, and imposes tax on any REIT taxable income retained by a REIT, including capital gains. To satisfy the requirements to qualify as a REIT and to avoid paying tax on our income, we intend to make quarterly distributions of all, or substantially all, of our REIT taxable income (excluding net capital gains) to our stockholders.
For income tax purposes, dividends paid to holders of common stock primarily consist of ordinary income, capital gains, qualified dividends, unrecaptured Section 1250 gains, and return of capital, or a combination thereof. For the years ended December 31, 2019 and 2018, dividends per share held for the entire year were estimated to be taxable as follows:
| 2019 | 2018 | |||||||||||||
| Amount**(1)** | Percentage | Amount**(1)** | Percentage | |||||||||||
| Ordinary income | $ | 0.23 | 45.4 | % | $ | 0.32 | 74.0 | % | ||||||
| Capital gains | 0.22 | 42.7 | % | 0.08 | 17.4 | % | ||||||||
| Qualified dividends | 0.01 | 0.5 | % | 0.01 | 2.0 | % | ||||||||
| Unrecaptured Section 1250 gain | 0.06 | 11.4 | % | 0.03 | 6.6 | % | ||||||||
| Return of capital | — | — | % | — | — | % | ||||||||
| Total | $ | 0.52 | 100.0 | % | $ | 0.44 | 100.0 | % |
| (1) | Amounts are displayed in actual dollars per share. |
Stock Performance Graph
The following graph shows the total stockholder return of an investment of $100 cash on February 1, 2017 (the date our common stock began trading on the NYSE) for (1) our common stock, (2) the S&P 500 Total Return Index, and (3) the MSCI US REIT (RMS) Total Return Index. All values assume reinvestment of the full amount of all dividends. Stockholder returns over the indicated period are based on historical data and are not necessarily indicative of future stockholder returns.
| Cumulative Total Returns as of | ||||||||||||||||||||||||||||
| February 1, 2017 | June 30, 2017 | December 31, 2017 | June 30, 2018 | December 31, 2018 | June 30, 2019 | December 31, 2019 | ||||||||||||||||||||||
| Invitation Homes Inc. | $ | 100.00 | $ | 108.45 | $ | 119.02 | $ | 117.61 | $ | 103.43 | $ | 139.19 | $ | 157.50 | ||||||||||||||
| S&P 500 Index | 100.00 | 107.25 | 119.50 | 122.67 | 114.26 | 135.44 | 150.24 | |||||||||||||||||||||
| MSCI US REIT Index | 100.00 | 103.99 | 106.43 | 107.70 | 101.56 | 119.61 | 127.80 |
Repurchases of Equity Securities
We made no repurchases of our common stock during the three months ended December 31, 2019.
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