Invitation Homes is a compelling investment opportunity these days.

The stock market has been in rally mode in the second half of this year. The S&P 500 is up by almost 14% over the last 12 months and seems to be hitting new all-time highs almost every day. That rally has driven the index's average dividend yield down to 1.2%, near its record low. As a result, there are fewer stocks trading at bargain levels and fewer higher-yielding dividend stocks.

However, the market isn't without some compelling value-driven income opportunities. Shares of Invitation Homes ( INVH 0.23% ) are down more than 16% over the past year and about 20% from their 52-week high. That slump has helped drive the yield of the real estate investment trust (REIT) up to 4.1%. That combination of value an

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