Invitation Homes Inc was started with bullish ratings by multiple firms Monday after a Feb. 1 IPO.
The real estate investment trust, or REIT, is a subsidiary of Blackstone Group LP . Invitation Homes received a $1 billion loan from Federal National Mortgage Assctn Fnni Me that it disclosed in January, according to CNBC.
National Real Estate Investor reported Sunday that Invitation Homes’ multibillion-dollar launch points to single-family rental homes as a growing business space — and one that was previously occupied by smaller investors.
The Dallas-based company holds a portfolio of nearly 50,000 rental homes in 13 markets, according its website.
Analysts at Deutsche Bank started Invitation Homes with a Buy and announced a $25 price target Monday.
“We believe INVH has the highest-quality portfolio in the industry and a best-in-class infrastructure that warrants a premium valuation,” Deutsche analysts said in the accompanying note.