William L. Moore
1
All posts from William L. Moore
William L. Moore in Insider trading,

Newly IPOed Invitation Homes Receives Warm Analyst Welcome

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.

Source